Inter-Bank Transaction Thru Bb Npsb
8 banks asked not to overcharge clients for ATM use
Bangladesh Bank has recently asked eight scheduled banks, attached to the National Payment Switch Bangladesh, not to charge clients more than the stipulated Tk 10 for each inter-bank transaction through automated teller machines. The central bank has recently found allegations against the banks that some of them imposed higher charge on the clients through ATM transactions violating the BB directions.
Against the backdrop, the central bank issued separate letters on June 19, 2014 to the eight banks asking them to follow strictly the BB regulations.
The eight banks are: Dutch-Bangla Bank, BRAC Bank, Prime Bank, Pubali Bank, Islami Bank Bangladesh, Mutual Trust Bank, Southeast Bank and Al-Arafah Islami Bank.
The eight banks earlier joined in the NPSB and a number of banks are now taking preparation to get attached to the domestic payment gateway.
The NPSB is now playing the role of a ‘mother switch’ and it will gradually connect all ‘child switches’ owned or shared by the scheduled banks in the country.
The child switches, which are ATM, point on sale, electronic commerce, internet banking, mobile banking and other online-related banking services offered by banks, will be brought onto a common platform of the NPSB under the central bank strengthening project.
The BB set the charge at Tk 10 on March 18, 2014 for each inter-bank transaction for clients through ATM under its NPSB project.
The central bank also set charge at Tk 5 for mini statement or balance inquiry in the inter-bank transactions through ATMs under its NPSB project.
According to the BB circular about the ATM charge, the card (debit or credit card) issuer banks will have to pay Tk 20 to the ATM owner banks for each inter-bank transaction.
The card issuer banks will have to impose a maximum charge of Tk 10 for each inter-bank transaction for its clients through the ATM machines, meaning that the card issuer bank will have to pay a subsidy of Tk 10.
The card issuer banks, however, will receive the full charge of Tk 5 from their clients if they (clients) collect mini statement or search their balance position through the ATMs.
A BB official told New Age on Wednesday that some scheduled banks had earlier complained against the central bank’s move saying that the new charge set by the BB was not viable for their business.
The banks, which set up the majority number of ATM booths, say that they will not be able to avail from the central bank initiative as their maintenance cost is higher than that of the BB charge, he said.
The central banker said, ‘The BB thinks that the ATM charge under the NPSB is viable enough for the banks.’
-With New Age input