The Association of Bankers, Bangladesh (ABB), a body of bank executives, has proposed major changes to the service charges customers pay in the country’s banking sector. Under the proposal, a customer who withdraws cash from a bank counter more than three times a month could have to pay an extra fee of Tk 100 to Tk 300. New fees, or increases to existing charges, have also been recommended on 14 other types of banking service.
On this, however, Bangladesh Bank has made clear that no decision will be taken that creates unreasonable financial pressure on customers. The central bank said the impact of any proposal would be considered deeply before it was approved.
Under the ABB proposal: a fee of Tk 100 to Tk 300 for withdrawing cash from the counter more than three times a month; a Tk 500 fee to reactivate a long-dormant bank account; a proposal to raise loan-processing fees several times over; and the addition of new fees and increases to existing charges on various banking services.
Bankers argue that such steps would ease pressure on branch-based services and encourage customers to make greater use of digital banking, ATMs and alternative channels.
Bangladesh Bank spokesperson Arif Hossain Khan said: “Imposing extra fees or charges on customers could create reluctance toward banking services among ordinary people. So the central bank will consider all aspects before taking any such decision.” The central bank has also advised banks to increase their income through loan disbursement and other normal banking activities rather than relying on service charges.
The proposal has caused concern among ordinary customers, who say the cost of living has already risen because of high inflation. If the cost of banking services is also increased, they say, the worst affected will be small depositors, the elderly and customers who are not yet fully used to digital banking. In rural areas and many suburbs in particular, most people still carry out their regular transactions at the counter, and those concerned fear the extra fee could become a new financial burden.
According to economists and banking analysts, the goal of discouraging counter transactions to expand digital banking is positive, but unless the alternative services are accessible, reliable and safe for everyone, it will be hard to get the desired result merely by raising fees. Such a policy, they say, should be put into effect only after steps are taken to increase the number of ATM booths, strengthen the security of mobile and internet banking and get customers used to digital services; otherwise it will simply raise the cost of banking and put extra pressure on ordinary customers.
The ABB proposal has not yet been finalised, and Bangladesh Bank is reviewing it. No new fee or charge will therefore take effect without the central bank’s approval, so customers do not need to pay anything extra for now. Once a final decision is taken, the central bank will announce it formally.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report