Nagad increases cash-out, send money charges

Mobile finance services (MFS) provider Nagad increased charges for cash-out and sending money from last Friday (8 September), its officials said.

According to Nagad, it imposed Tk5 as a charge for sending money through Nagad App, which was free earlier.

Moreover, it also increased the cash-out charge from Tk11.49 to Tk12.50 per thousand for mobile apps and from Tk14.94 to Tk15 for availing the service by dialling USSD code *167#.

Nagad also imposed a 1.50% charge per thousand to transfer money to banks.

"The state-owned MFS operator recently adjusted various service charges as part of its long-term business strategy, aiming to enhance customer experience and increase the prevalence of digital services," a Nagad statement obtained by The Business Standard reads.

Nevertheless, Nagad still maintains the market's lowest charges for cash out, send money, or any other services, the statement further reads.