BB tightens rules for card-to-MFS cash-outs

Bangladesh Bank has introduced new rules for cashing out money from card-based mobile financial service (MFS) accounts, aiming to tighten verification and strengthen transaction security.

Under the new rules, customers must first complete a successful transaction of up to Tk 500 through the card before they can link the card with an MFS account. The account can only be connected 24 hours after that transaction is completed.

The circular also said that from August 1 this year, MFS cash withdrawals through cards will only be allowed if the MFS account and the card are verified under the same ownership. Transactions involving mismatched ownership information will not be permitted.

The central bank said the changes will apply to all MFS providers and scheduled banks operating in the country.

In a circular issued by the Payment Systems Department on May 19, 2026, the central bank outlined several conditions for using card-to-MFS cash withdrawal services. The instructions were sent to managing directors and chief executives of all concerned institutions.

Bangladesh Bank has also instructed service providers to introduce systems that clearly identify transactions as card-based instead of merchant payments.

At the same time, the beneficiary account number must not remain blank during card-linked transactions.

The central bank warned that institutions failing to make the required changes by July 31 this year would not be allowed to continue offering card-to-MFS cash withdrawal services from August 1 of the same year.

The circular further said that earlier instructions issued on March 27 last year regarding other transactions through MFS accounts would remain in force. All new directives will take immediate effect.