Monthly MFS transaction limit remains unchanged

The Bangladesh Bank (BB) yesterday said that the highest monthly transaction limit of Tk 2 lakh from person to person through mobile financial services (MFS) would remain unchanged.

The BB increased the monthly transaction limit from Tk 75,000 on April 4 soon after the government declared strict restrictions on movement to contain the second wave of the coronavirus pandemic.

The central bank, however, withdrew the facility of MFS transactions that allowed clients to transfer Tk 40,000 without any charge through MFS.

"We have taken the decision as the economy reopens after the government relaxed the restriction," a BB official said.

From now on, MFS providers can impose the charge as per their business policy.

The central bank also said that credit cardholders would have to face interest on the overdue amount of their cards.

In April, banks were asked to impose interest on the only principal amount of credit cardholders. But the latest notice has withdrawn the rules as well.