Bangladesh Bank has introduced a new security system in the process of adding money to the mobile financial service (MFS) account using bank cards in the country.
The central bank’s payment systems department has recently sent a notification in this regard to the chief executives of all banks and MFS companies.
According to the new guidelines, a token transaction of Rs 500 will be mandatory for the first time to be added to any MBS account including bKash, cash or rocket. The card will be fully activated in the concerned MFS account after 24 hours after the successful completion of this transaction. After that, the user will be able to make a large amount of ‘ad money’ in the normal rules.
According to the Bangladesh Bank directive, the same rules will not always be applicable. If the name of the cardholder and MFS account holder and the national identity card are the same since August 1, 2026, then this token transaction will no longer be mandatory. That is, the transaction will be made easier by attaching the card directly to the same person.
The central bank has also changed the transaction classification to ensure security and transparency. From now on, the transfer of money from the card to the MFS account cannot be shown as a ‘merchant payment’; it must be marked as a ‘fund transfer’.
Besides, the information that is going to the MFS wallet is going to be conveyed to the card issuing bank clearly. Bangladesh Bank expects that the prevention of misinformation, card fraud or unauthorized transactions will be more effective.