BB sets mobile banking account balance limit at Tk 3 lakh

Staff Correspondent | Published: 00:05, Nov 07,2017

 
 

Bangladesh Bank has set the highest balance limit for mobile banking service account of a client at Tk 3 lakh to check abuse of the service.
Setting the highest balance limit, the BB in a circular issued on Sunday said that if any client had the balance over Tk 3 lakh, he or she would have to cut the balance to Tk 3 lakh by December 31, 2017.
It also said that mobile banking client would be able to transfer the additional amount to his or her linking bank account.
Earlier, the central bank tightened ceiling on transactions through MFS and identification process of clients to tackle money laundering using the service.
On January 11, the BB issued a circular to managing directors and chief executive officers of all banks and their subsidiary companies, which run the MFS, saying that from now on a client would be allowed to transact Tk 15,000 as cash-in and Tk 10,000 as cash-out in a day from the previous ceiling of Tk 25,000 for both cash-in and cash-out.
The central bank also lowered the monthly ceiling on cash-in and cash-out by a client through the MFS to Tk 1.5 lakh and Tk 50,000 respectively from the previous limit of Tk 1.5 lakh for both cash-in and cash-out.

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