cash withdrawal, balance enquiry, fund transfer and mini statement) could be done through NPSB. Currently, four types of interbank ATM transaction (i.e.
53 Banks are now interconnected through NPSB for their ATM transactions. Currently, it caters interbank Automated Teller Machines (ATM), Point of Sales (POS) and Internet Banking Fund Transfer (IBFT) transactions while the Mobile Financial Services interoperability is under active consideration. Operational since 2012, NPSB is meant for establishing interoperability among participating banks for their account and card based transactions. (c) National Payment Switch Bangladesh (NPSB) Bangladesh Electronic Funds Transfer Network (BEFTN) Operating Rules V 2.0.salary, social benefits, all social safety net payments and other government payments are processed through BEFTN. At the same way it accommodates debit transactions like utility bill payments, insurance premium payments, Club/Association payments, EMI payment etc. This network can handle credit transfers such as payroll, foreign and domestic remittances, social security payments, company dividends, bill payments, corporate payments, government tax payments, social security payments and person to person payments. It facilitates both credit and debit transactions, as a lead over cheque clearing system. Incepted in February 2011, BEFTN was country's first paperless electronic inter-bank funds transfer system. (b) Bangladesh Electronic Funds Transfer Network (BEFTN) Bangladesh Automated Cheque Processing System (BACPS) V 2.0.
At present HV presentment cutoff time is at 12:00 and the return cutoff is at 15:00 while for RV clearing presentment cut off time is at 12:30 and return cut off is at 17:00. 5,00,000 or above) and Regular Value (RV) Cheque clearing are operated. Under BACPS umbrella High Value (HV) Cheque Clearing (Cheque amounting Tk. Transactions received from the banks during the day are processed and settled at a pre-fixed time. BACPS operates in a batch processing mode.
cheque, pay order, dividend & refund warrants, etc). It uses the Cheque Imaging and Truncation (CIT) technology for electronic presentment and payment of paper-based instruments (i.e. Since inception in October, 2010 BACPS is the only state-of-the art cheque clearing facility. (a) Bangladesh Automated Cheque Processing Systems (BACPS) Bangladesh Real Time Gross Settlement (BD-RTGS).National Payment Switch Bangladesh (NPSB).Bangladesh Electronic Funds Transfer Network (BEFTN).Bangladesh Automated Cheque Processing Systems (BACPS).Bangladesh Automated Clearing House (BACH).Regulatory FinTech Facilitation Office (RFFO).Payment Service Provider (PSP) and Payment System Operator (PSO).Payment System Department’s function may be divided into following three broad categories: In parallel, the department looks after the Law, regulation, licensing and oversight of the payment systems. With the mandate of Bangladesh Bank Order 1972, Payment Systems Department (PSD) endeavors for promoting new payments, clearing and settlement systems to ease financial transactions ensuring circulation of money in the economy and also enforces new rules regulation to facilitate payment systems innovation in the country.Įstablished in 2012, Payment Systems Department’s core objective includes establishing modern and efficient interbank payments, clearing and settlement system. Payment and settlement systems are the means by which funds are transferred among financial institutions, businesses, and individuals and are considered to be the critical factor for proper functioning of country's financial system.
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