BB raises charges for using other banks' ATMs

The Bangladesh Bank (BB) has increased the cost of withdrawing cash from ATM booths of other banks, with the revised charges set to take effect on February 20.

These new charges are part of the BB's efforts to regulate electronic banking transactions and optimise interbank ATM (automated teller machine) usage.

According to a circular, issued by the BB's Payment Systems Department on Thursday, ATM cardholders will be charged Tk 15 per transaction for the first five transactions per month for cash withdrawal from other bank's ATM. However, from the sixth transaction onward, the charge will double to Tk 30, including VAT.

Customers seeking a summary statement or account status through ATMs will have to pay Tk 5.0, including VAT. A short statement will also cost Tk 5.0, while each fund transfer between banks via ATMs will cost Tk 10.

These charges will be paid by the card-issuing bank or financial institution to the ATM-owning bank concerned.

For cash withdrawals, the issuing bank can collect a maximum of Tk 15 per transaction from the customer for the first five transactions per month. Each transaction limit is Tk 20,000 or as per the customer's demand.

Beyond these five transactions, the full charge will be borne by the customer, and the card-issuing bank will have to pay Tk 30 per transaction to the bank that owns the ATM booth.

For internet-based fund transfer, if a customer transfers money to another bank, s/he will have to pay Tk 10, including VAT. The bank will deduct the amount from the client's account.

For online income tax return or e-return submissions and transactions for other government services, the fees will vary based on transaction amounts. Up to Tk 25,000 it will be Tk 20 per transaction, and above Tk 25,000 it will be Tk 50 per transaction.

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