BB fixes fees, charges for card transactions

The Bangladesh Bank on Monday set fees and charges for card transactions through ATM, Point of Sale (POS), Internet Banking Fund Transfer (IBFT), Bangla QR and government invoices. 

The central bank issued a notice to the managing directors and CEOs of all scheduled banks, mobile financial services providers (MFS), payment services providers (PSP) and payment system operator (PSO) in this regard. 

A senior BB official said the fees and charges for card transactions through IBFT, Bangla QR and government invoices had been set newly. Those for ATM and POS were set previously.

Card transaction through IBFT

The central bank notice said that the maximum service charge would be Tk 10 (including VAT) for transferring funds from one bank to another using IBFT. 

Card transaction through Bangla QR

Card transaction through Bangla QR in case of personal retail account, acquiring bank or institution will collect 0.7 per cent as merchant discount rate (MDR) of the total transaction from the merchant. Of it, 0.4 per cent will go to the card-issuing bank or institution as an interchange reimbursement fee (IRF). 

The BB said that without a personal retail account, acquiring bank or institution will collect 1.6 per cent as MDR of the total transaction from the merchant. Of it, 1.1 per cent will go to card issuing bank or institution as IRF. 

Payment against govt services through card

The Merchant Category Code (MCC)-9399 will be used in case of invoice payment against the government services and the chargeback would not be applicable against the code.

Acquiring bank or institution will impose a maximum Tk 20 as charge in card transaction of maximum Tk 25,000 against the code. Of it, Tk 5 will go to the card-issuing bank or institution. Conventional fees and charges will be applicable in case of card transactions above Tk 25,000, said the BB notice.  

Card transaction through ATM

Under the National Payment Switch Bangladesh (NPSB), banks will be able to impose Tk 20 for cash withdrawal (including VAT) for the clients of another bank. Tk 5 will be imposed in case of looking for the outstanding balance, Tk 5 for slips, Tk 10 for fund transfer and Tk 20 for cash deposit.

Card transaction through POS

Under the NPSB, the acquiring bank or institution will collect 1.6 per cent as MDR of the total transaction from the merchant. Of it, 1.1 per cent will go to card-issuing bank or institution as IRF in case of merchant payment.