Bangladesh Bank yesterday withdrew the ceiling for the number of daily inter-bank fund transfers through internet banking.
Clients earlier were permitted to settle as many as 10 such transactions per day while business entities 20.
From now on, such ceilings will not be applicable, according to a Bangladesh Bank notice.
The central bank has taken the decision as internet banking transactions have surged in recent months, with people increasingly embracing the digital mode while opting out of visiting branches, said a central bank official.
An individual is now allowed to transfer a maximum of Tk 10 lakh per day and the highest Tk 3 lakh per transaction.
The limit for business entities is Tk 25 lakh per day and the ceiling for a single transaction is Tk 5 lakh.
The central bank also lifted the limit on the maximum amount of funds that can be transferred from one account to another within a particular bank.
Banks can set the daily intra-bank transaction limit on their own.
Earlier, the intra-bank fund transfer limit was Tk 5 lakh per day.
Transactions through internet banking amounted to Tk 17,763 crore in February, up 109 per cent year-on-year, showed the BB data.
Clients started to heavily rely on internet banking transactions after the coronavirus pandemic hit the country.
A good number of banks have already introduced app-based financial services, allowing customers to settle financial transactions hassle free through internet banking.
Some of the facilities include the transfer of funds from one account to another, payment of tuition fees and utility bills and adjustment of loans taken against credit cards.
