Account holders of 13 banks can transfer money to Nagad wallet for free

Staff Correspondent | Published: 15:10, May 23,2021 | Updated: 22:46, May 23,2021


Customers of 13 commercial banks can now transfer money from their accounts to the digital wallet of Nagad, the mobile financial service arm of the Bangladesh Post Office, to avail digital services from the convenience of their home amid the coronavirus outbreak, said a press release.

No extra cost will be charged for the facility while there will also be the opportunity to add money to Nagad wallets free of cost from any Visa and MasterCard cards issued in Bangladesh.

Nagad has rolled out the service with Midland Bank, Exim Bank, Mutual Trust Bank, First Security Islami Bank, Community Bank, Shahjalal Islami Bank, NRB Bank, Social Islami Bank, Premier Bank, IFIC Bank, Union Bank, NRBC Bank and National Bank. 

Nagad is going to ink similar deals with several other banks very soon.

The limit set by the Bangladesh Bank will be applicable in case of adding money to Nagad wallet.

To transfer money to Nagad wallet from bank accounts, customers must first add the beneficiary account.

For this, customers have to enter the add money icon of Nagad app and then go to the ‘Bank to Nagad’ option and add the name of the banks. The internet banking portal (app or web) of banks will show ‘add beneficiary’ or ‘manage beneficiary’ option under the fund transfer option or ‘transfer to Nagad option’.

Customers then have to add the Nagad number where they want to transfer the fund from the bank account.

One has to add the beneficiary wallet number only once in order to bring money to a Nagad wallet.

After selecting the beneficiary number in the app, the page will show ‘bank debit’ or ‘from account’ options.

Customers will choose the option at their convenience and enter the amount.

Customers will get a one-time password (OTP). After confirming the OTP, customers will receive an SMS notification of a successful transfer. — New Age

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