Home ›› 12 Nov 2022 ›› Front
Interoperability among mobile financial services (MFS), banks, and payment service providers (PSP) will be launched tomorrow, with the MFS to MFS money transfer charge set at Tk 5 per thousand.
To transfer money from MFS to banks, Tk 10 per thousand will be charged while a transfer from MFS to PSP will cost Tk 5 per thousand, said the Bangladesh Bank in a circular on Thursday night.
It said the Interoperable Digital Transaction Platform (IDTP) named Binimoy would be officially launched on Sunday.
The receiving entity will pay Tk 0.5 to the IDTP for any transaction using Binimoy.
The bank to bank transaction fee has been set at Tk 100 per thousand. There will be no fee for transferring money from banks to PSP and MFS.
But the fee for transferring money from PSP to banks will be Tk 10 per thousand while it will be Tk 5 per thousand for PSP to PSP and PSP to MFS.
The senders will charge customers for using interoperable services.
The circular said the 2020 notification about interoperability had been cancelled. The 2020 notification said interoperable services had been decided to be launched under the central bank’s management.
The services were supposed to be officially launched on October 27, 2020. The Bangladesh Bank at the time issued a notification about this. However, the launching was cancelled.
Binimoy will be added as a service to the apps of banks and MFS. Customers must register to use the service. After registration, an ID generated on binimoy.gov.bd will be appended to the customer’s name.
Upon registration, customers will see two options – send money and receive money. If they want to send money to someone, they have to choose an entity they have an account with.
