Special discounts were offered on credit card bills during lockdowns to prevent coronavirus infections. However, on Wednesday (August 25), the Payment Systems Department of Bangladesh Bank withdrew that facility.
A circular has been issued in this regard stating that interest or profit will be levied on unpaid credit card bills from the day after the last date fixed for payment of credit card bills.
The new guidelines of the central bank further said that public transport system has already been introduced including opening of shops and shopping malls subject to ensuring hygiene. Therefore, the instructions regarding credit card bill payment period, late payment fee and interest have been withdrawn. In this case no interest can be charged from the date of transaction in any way. Delay fee cannot be collected more than once against any bill paid late.
The circular provides new guidelines for person-to-person (person-to-person) transactions from the MFS provider. From now on, the maximum monthly limit for person-to-person transactions will be Taka 200,000. The charge for this transaction will be in accordance with the service provider’s own business policy. Earlier, the maximum person-to-person monthly transaction was Taka 75,000.
There was a ban on late payment fees even if credit card bills were not paid during the ban. In addition, customers will have the opportunity to pay up to five working days after the suspension of arrears.