Integrated transaction service has been launched between bKash and Community Bank Bangladesh Limited. Now the customers of Community Bank including all the members of Bangladesh Police can Add Money instantly to their bKash accounts and also Transfer Money vice versa.
Community Bank customers can now make transactions 24/7 from anywhere in the country through bKash app seamlessly, without going to bank counters. Besides, 55 million bKash customers will be able to Cash Out at 1.49% charge from 165 ATM booths of Community Bank spread across the country.
Today, Dr. Benazir Ahmed, BPM (BAR), Inspector General of Police, Bangladesh and Chairman, Community Bank, inaugurated the joint service of Bangladesh Police Welfare Trust's Community Bank and country's largest mobile financial service provider bKash at a hotel in the capital. Masihul Huq Chowdhury, Managing Director and CEO of Community Bank and Kamal Quadir, CEO of bKash, along with other senior officials of both the organizations were present on the occasion.
With this initiative, banking transactions have become easier, safer, time saving and cost-effective for all the customers of Community Bank. It also enables the bank to cater various creative services to a larger customer base through bKash.
To avail this service, customers first need to set up link between bKash account and Community Bank account using bKash app. The KYC information of both the accounts should be the same when setting up the link. Once the link is established, money can easily be transferred from Community Bank account to bKash account through 'Add Money' of bKash app. Customers can also Add Money to their own or loved one’s bKash accounts from Community Bank's 'Community Cash' app.
In addition, customers will be able to deposit money, pay DPS and loan installments through bKash app’s 'Transfer Money' service without going to the bank. Transaction limit set by Bangladesh Bank will be applicable for both Add Money and Transfer Money services.
Chief Guest, Dr. Benazir Ahmed, BPM (BAR), Inspector General of Police, Bangladesh and Chairman, Community Bank, said, “Two years ago, Honourable Prime Minister inaugurated Community Bank. We are grateful to her for this.” He added, “We did not want to establish a bank only for Police members. Rather we wanted to make it a bank for all. After all, police work for the whole community, for the people. Within just a couple of years, our bank has come this far and this growth will continue in future as well.”
He also added, “bKash has brought revolutionary changes in mobile financial services sector of Bangladesh. As a result, MFS has gained more popularity. The partnership between Community Bank and bKash will play a vital role in the financial transactions of bank.”
Masihul Huq Chowdhury, Managing Director and CEO of Community Bank, said, “We have added modern technology-based services to ensure uninterrupted banking services to a vast number of customers including police members in just two years of operation. This two-way transaction with bKash has brought the opportunity to use more diverse and creative services for our customers.”
Kamal Quadir, Chief Executive Officer of bKash, said, “Members of the police force are constantly working to ensure our safety across the country. Our joint initiative with Community Bank will simplify their daily banking needs and urgent financial transaction that will provide a chance to stand beside their family and relatives from far.”