Staff Correspondent:

Bangladesh Bank has re-fixed the transaction limit for mobile financial service (MFS) providers such as bKash, Rocket and Nagad, allowing users to cash in, cash out, and transfer more money than before.

The Payment Systems Department of the Bangladesh Bank issued new directives to this end on Thursday (March 27).

The directives state that from now on, a maximum of Tk 50,000 can be cashed in daily from agent points to personal accounts, which was earlier Tk30,000.

The monthly cash in limit has also been increased from Tk2 lakh to Tk3 lakh.

Similarly, the cash-out limit has also been increased.

Earlier, the maximum daily cash-out limit for an individual account from agent points was Tk25,000, which has now been increased to Tk30,000.

The monthly cash out limit has been increased from Tk1.5 lakh to Tk2 lakh.

Additionally, MFS users can now maintain a maximum balance of Tk5 lakh, whereas earlier the limit was Tk3 lakh.

In the new guidelines, the limit on the number of transactions in MFS has also been withdrawn. That is, from now on, customers will be able to make as many transactions as they want.

However, Bangladesh Bank has said that MFS institutions will be able to set these limits considering their own risks.