Service charges payable via RTGS from Sept 15

Bangladesh Bank (BB) is set to introduce a major digital facility for the payment of service charges at Chittagong Port, the prime sea port of the country.

According to the directives, transactions of less than Tk 100,000 with the Chittagong Port Authority (CPA) can also be settled directly through the Bangladesh Real Time Gross Settlement (BD-RTGS) system. Clients can now pay service charges of Chittagong Port by RTGS from September 15.

The new system will reduce the need for payments via pay orders or cheques, or for consolidating multiple small bills.

The facility for faster payments will not only save time during various stages of vessel, container, and cargo handling but also accelerate the port’s revenue collection.

The Payment Systems Department of Bangladesh Bank issued a notification regarding this matter on September 1.

In accordance with PSD-2 Circular No. 04, the existing minimum transaction limit of Tk 100,000 will no longer apply to BD-RTGS transactions involving the CPA.

Under the new system, a specific transaction type code-‘TTC 042’ has been assigned to the CPA.