She has to send in an additional Tk 100 as it would cost her mother Tk 18.5 for every Tk 1,000 she withdraws. Currently, a customer has to pay Tk 17.5 for cashing out Tk 1,000 through mobile apps of the respective service MFS providers except for Nagad. At the end of September, the total number of agents providing MFS service stood at 1,017,055, the highest yet, according to data from the BB. Despite the supposedly high charges, the MFS players, particularly the market leader bKash, is not making a profit, he said. But the lion’s share of the transactions on the MFS platform are small-ticket ones,” he added.

Source: Dhaka Tribune November 23, 2020 04:07 UTC