MFS cashout limit now Tk 30,000

Business Report :

The Bangladesh Bank has increased transaction limits for mobile financial service (MFS) providers such as bKash, Rocket, and Nagad.

The payment system department (PSD) of the central bank issued a circular in this regard on Thursday

The development comes ahead of Eid-ul-Fitr, when the economy typically sees increased money flow. Under the revised policy, MFS account holders can now deposit up to Tk 50,000 daily through an agent, up from Tk 30,000.

The monthly cash-in limit through agents has also been raised to Tk 3 lakh from Tk 2 lakh.
For cash-outs via agents, the daily transaction limit has been increased to Tk 30,000 from Tk 25,000, while the monthly limit has been raised to Tk 2 lakh from Tk 1.5 lakh, according to the central bank notice. However, the maximum cash-in limit via bank accounts and cards remains unchanged at Tk 50,000 per day and Tk 3 lakh per month.

Similarly, the cash-out cap through bank accounts and cards remains Tk 50,000 daily and Tk 3 lakh monthly. For person-to-person (P2P) transactions, MFS users can now transfer up to Tk 50,000 per day, doubling the previous limit of Tk 25,000.

The monthly transfer cap has been raised to Tk3 lakh from Tk2 lakh. Additionally, the maximum balance an MFS account can hold has been increased to Tk 5 lakh from Tk 3 lakh. Currently, 13 MFS providers operate in the country, while Nagad continues its operations with temporary approval from the Bangladesh Bank. In December 2024, the average daily transaction volume through MFS stood at Tk 5,314 crore, with total transactions for the month reaching Tk 1,64,739 crore, according to central bank data.