BB extends MFS transaction limit

Bangladesh Bank has extended the limit of transactions through the mobile financial service (MFS) platforms, in an effort to meet the growing demand for cashless transactions.

The MFS users can now deposit a highest amount of Tk 30,000 into an account through agents in a day and Tk 200,000 in a month, according to a gazette notification issued on Monday.

On the other hand, the daily cash-out limit has been fixed at Tk 25,000 from agent points while the monthly cash-out limit is Tk 1,50,000.

The person to person (p2p) cash transfer limit has been set at Tk 25,000 daily and Tk 200,000 monthly. The MFS users can keep a maximum balance of Tk 300,000 in each account.

The central bank also said in the notification that the users can bring up to Tk 50,000 from their bank accounts or cards to the MFS accounts in a day and Tk 300,000 in a month.

Earlier, there was no specific limit for deposition from the cards, but the users could not deposit more than Tk 30,000.