Bangladesh Bank has announced a rise in ATM withdrawal charges for transactions made at other banks’ ATMs, effective February 20. Under the new policy, customers will now pay 30 taka per withdrawal (including VAT) after the first five transactions per month, while the first five will be charged at 15 taka each, up from the previous flat rate of 15 taka per withdrawal.
According to a circular issued by the Payment Systems Department of Bangladesh Bank, additional transaction fees will also be introduced. Customers requesting an account balance inquiry or a mini statement will now pay 5 taka, while fund transfers via ATM will be charged 10 taka. The fees extend to POS cash withdrawals, where banks can charge up to 20 taka per transaction, and interbank fund transfers through NPSB, which will carry a 10 taka service charge per transaction.
For digital payments, transactions of up to 25,000 taka via card or internet banking will incur a 20 taka charge, while larger payments will be subject to a 50 taka fee. Mobile Financial Services (MFS) and Payment Service Provider (PSP) wallet transactions will carry a maximum charge of 1% or 30 taka per transaction (whichever is lower).
Liberty News’ economic correspondents the new charges aim to regulate banking fees and streamline transaction costs. However, they are likely to add an extra financial burden on consumers who rely on interbank ATM withdrawals and digital banking services.
LND/BAIZID
