BB re-fixes MFS transaction limit

Bangladesh Bank has revised the mobile financial service (MFS) transaction limits.

A circular issued by the Payment System Department (PSD) of the central bank on Thursday outlined the new limits.

The daily cash-in limit for agent points has been increased to Tk50,000 from Tk30,000, while the monthly cash-in limit has been raised to Tk3,00,000 from Tk2,00,000.

The cash-out limit for agent points has been increased to Tk30,000 from Tk25,000 per day, and the monthly cash-out limit is now Tk2,00,000, up from Tk1,50,000.

The person-to-person (P2P) money transfer daily limit has been raised to Tk50,000 from Tk25,000, with the monthly limit now set at Tk3,00,000, up from Tk2,00,000.

The circular also mentioned that MFS providers may reduce the transaction limits based on the risk assessment of clients.

The decision will be effective immediately, said the central bank.