Inter-MFS Transactions Begin Nov 1, Costs to Rise Slightly

A new feature is being added to Bangladesh’s financial ecosystem as inter-Mobile Financial Service (MFS) transactions are set to begin on November 1, allowing customers to transfer money across different MFS providers for the first time.Until now, users could only send money within the same platform—such as from one bKash account to another. From Friday, they will be able to send funds from bKash to Nagad or vice versa, though the new service will come with a slightly higher transaction cost.According to the Bangladesh Bank (BB), inter-MFS transfers will incur a charge of Tk 8.50 per Tk 1,000, while transfers from banks to MFS accounts will cost Tk 1.50 per Tk 1,000. For bank-to-PSP transactions, the charge will be Tk 2 per Tk 1,000. Existing cash-out charges, however, will remain unchanged.Despite the added cost, both customers and agents have welcomed the initiative, saying it will make transactions faster and more ...

• 30 Oct 2025