The Association of Bankers, Bangladesh (ABB), the organization representing bank executives, has proposed major changes to customer service fees in the country’s banking sector.
According to the proposal, customers who withdraw cash over the counter more than three times a month may face an additional fee ranging from Tk100 to Tk300.
Furthermore, recommendations have been made to introduce new fees or increase existing charges across 14 other banking services.
However, Bangladesh Bank has clarified that no decision will be made that imposes an unreasonable financial burden on customers.
The central bank stated that the impact of any proposal will be deeply evaluated before approval.
According to the ABB proposal:
- A fee of Tk100 to Tk300 for cash withdrawals over the counter exceeding three times a month.
- A Tk500 fee to reactivate long-dormant bank accounts.
- A proposal to multiply loan processing fees several times over.
- The addition of new fees and hikes in existing charges across various banking services.
Bankers claim these measures will reduce pressure on branch-based services and further encourage customers to adopt digital banking, ATMs, and alternative channels.
Bangladesh Bank spokesperson Arief Hossain Khan stated that imposing excessive fees or charges could discourage the general public from using banking services.
Therefore, the central bank will consider all perspectives before making any decisions.
At the same time, the central bank advised banks to increase revenues through lending and other standard banking activities rather than relying on service fees.
The unveiling of the proposal has sparked widespread concern among regular customers.
According to them, high inflation has already driven up the cost of living. In this environment, raising banking costs will most severely impact small depositors, elderly individuals, and customers who are not yet fully accustomed to digital banking systems.
Experts note that this extra fee could become a fresh financial burden particularly for people in rural areas and suburbs, where the majority still rely regularly on over-the-counter transactions.
Economists and banking analysts argue that while the goal of discouraging over-the-counter transactions to expand digital banking is positive, it will be difficult to achieve the desired results simply by raising fees unless alternative services are made accessible, reliable, and secure for everyone.
They believe such policies should only be implemented after expanding the ATM network, strengthening mobile and internet banking security, and training customers to use digital services.
Otherwise, it will merely drive up banking costs and place additional pressure on ordinary customers.
The ABB proposal has not yet been finalized. Bangladesh Bank is currently reviewing the suggestions, and no new fees or charges will take effect without the central bank's approval.
Consequently, customers do not need to pay any additional fees for the time being. The central bank will officially issue a notice once a final decision is reached.