BRAC Bank lifts bar on foreign ATM cash withdrawals with debit cards

BRAC Bank has brought back the option to withdraw cash from ATMs with debit cards a month after suspending the feature for all cards.

The services were restored on January 18 on customers’ demand, the bank said.

They can withdraw up to $300 a day from ATMs abroad. The monthly cash withdrawal limit is $1,500, reports bdnews24.com.

The bank suspended the services on December 24, citing reasons related to accounts and audits.

Some other banks also started preventing customers from withdrawing cash by using cards abroad.

Mahiul Islam, deputy managing director and head of retail banking at BRAC Bank, told bdnews24.com on Monday: “Considering the need and problems of the customers, BRAC Bank has relaunched the cash withdrawal option with multicurrency debit cards abroad.”

According to the rules, a citizen can use foreign currencies worth up to $12,000 in cash or bank cards under the travel quota. They are allowed to withdraw 50 per cent of the amount by using cards.

Bangladesh Bank has been encouraging customers to use cards while spending in dollars to save the greenback amid a shortage of foreign currencies.