Banks asked to extend online, internet-based services during Eid holidays

The Bangladesh Bank todays asked banks to provide online and internet-based banking services to clients round the clock during the upcoming Eid holidays.

Banks will have to deliver immediate financial services through automated teller machines, points of sale, internet banking and mobile financial services to clients, according to a Bangladesh Bank notice.

The BB asked the lenders to ensure ATM services for clients during the holidays when sufficient cash have to be stored with the tool.

If any ATM machine face technical glitch, banks will have to solve it in the quickest possible time.

Eid-ul-Fitr, the largest religious festival of the Muslims, is scheduled to be celebrated either on May 2 or 3 depending on Moon sighting. The government declares vacations for 3-4 days to celebrate the festival.

The central bank also asked banks to ensure POS service during the period when they have to campaign awareness programme to keep alert clients such they can avert fraudulent activities.

Banks will have to ensure the security tool of the two-factor authentication system while clients settle transaction through the method of card-not-present.

A card-not-present transaction occurs when neither the cardholder nor the credit card is physically present at the time of the transaction. It is the most common for orders that happen remotely over the phone or by internet or mail.

MFS providers will have to provide financial services during the holidays. In addition, the agents of MFS will have to keep sufficient fund in their shops such that clients can withdraw fund uninterruptedly.