Govt to increase IBFT transaction limit

Staff Correspondent

7 September, 2020 12:00 AM printer

Govt to increase IBFT transaction limit

The government has decided to increase internet banking fund transfer (IBFT) limit up to Tk 1, 00,000 in a single transaction for personal accounts and Tk 2, 00,000 in single transaction for the organisational accounts.

The decision came in consideration due to popularity of technology based inter-banking service during the COVID-19 situation.

Bangladesh Bank on Sunday issued a circular in this regard.

Bangladesh Bank in circular said that maximum 10 transactions and total transfer of Tk 5, 00,000 will be allowed for personal account holders per day.

On the other hand 20 transactions maximum and total transfer of Tk 10, 00,000 will be allowed for the organisational accounts per day.

The revised IBFT transaction limit will come into effect from September 10, 2020, reads the circular.

At present, customers can transfer up to Tk 50,000 in a single transaction. Maximum 5 transactions and total transfer of Tk 2, 00,000 is now allowed per day.

 


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