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June 25, 2021 7:00 pm
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Bangladesh: ‘Upay’ brings lowest cost ATM cash out

From UCBL's 500 ATM booths across the country, its customers will be able to withdraw money deposited in their accounts using the Way app

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Dhaka — For the first time in Bangladesh, the United Commercial Bank’s (UCB) mobile banking subsidiary is going to cash out ATM booths at a cost of only Tk 8 per thousand. This is the lowest rate in the market for mobile banking including government tax and VAT.

From UCBL’s 500 ATM booths across the country, its customers will be able to withdraw money deposited in their accounts using the Way app.

Saidul Haque Khandaker, Managing Director of Upay, said, “The MFS has come up with a variety of products within a short period of its launch, most of which we are offering at the lowest cost in the market. One of them is the cost of withdrawing money from ATMs.

Saidul Khandaker further said that the agent point is also giving way to cash out facility at the lowest cost. USSD users can cash out from Agent Point for only Tk 14 per thousand.

The Upay started the journey on March 17 with nationwide agents and merchant networks. The means can be used for mobile money transactions, utility bill payments, payment of purchases, remittances, salaries, airtime purchases, various government allowances, Indian visa fees, traffic fines, and Titas Gas (pre-paid) bills.

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