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Inform customers of service charges, BB asks MFS providers

16 Oct 2020 10:23, Somoy English Desk
Inform customers of service charges, BB asks MFS providers
Inform customers of service charges, BB asks MFS providers

Mobile financial service providers will have to inform their customers of charges applicable for availing their services.

Bangladesh Bank issued a circular on Thursday as per Article 5.0 of the Bangladesh Mobile Financial Services (MFS) Regulations, 2018.

A number of MFS providers, including bKash, MCash, Rocket and UCash, are operating across the country.

The central bank directives said MFS operators have to properly inform their customers before providing any service about the type of service, the amount of service charge/charges and the list of service charges.

Such service-related information also has to be put on their websites and displayed in the form of Frequently Asked Questions (FAQ).

Customers will have to be informed about any change in the charges through advance notification, it said.

The MFS providers were also asked to launch campaign through newspapers, radio, TV, YouTube channels and social media like Facebook, Instagram and Linkedin to avoid confusion about the charges and the tariff rates.

In every case, the service charges, including value added tax (VAT) and the tariff, must be mentioned in the publicity, said the BB.

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