A bank customer will be able to transfer up to Tk 50,000 in a single transaction through the National Payment Switch Bangladesh or NPSB of the Bangladesh Bank. The customers can use the services to pay credit card bills, monthly instalment for deposit schemes or DPS, instalment of loan repayment, and insurance premiums. Bangladesh Bank said in a media release the customers will be able to transfer funds from account to account, account to debit or credit card and from debit or credit card to account. Currently, 51 of the 53 banks with payment card business are members of the NPSB. The move to launch IBFT was taken to expand the card payment business of the banks, the release says.

Source: bd News24 November 02, 2017 16:41 UTC