BB rises transaction limit in internet Banking

Sunbd Desk , Published: 2020-09-06 14:23:06, Updated: 2020-09-06 14:24:09

Bangladesh Bank yesterday has raised transaction limit in internet Banking fund transfer (IBFT) as interbank transaction through the technology has increased amid pandemic.

Now an internet banking account holder (person) can transact maximum Tk5,00,000 and institutions can transact maximum Tk10,00,000 in a day, according to the BB notice.

Previously, the maximum transaction limit was Tk2,00,000 in a day for both persons and institutions.

The BB notice said, an internet banking account holder (person) can make maximum ten transactions and institutions can make maximum 20 transactions in a day, up from five transactions both person and institution account holder.

A single transaction limit (person) enhanced to Tk1,00,000 from Tk50,000 and the limit (institution) enhanced to Tk2,00,000 from Tk50,000, as per BB notice.

The revised transaction limit will be implemented from September 10, this year.

Transaction through internet banking has increased amid pandemic coronavirus, which prompted Bangladesh Bank to revise the transaction limit in Internet Banking Fund Transfer (IBFT) through National Payment Switch Bangladesh (NPSB), said a high official of the BB.