Bangladesh Bank will impose charges on transactions of Bangladesh Automated Clearing House (BACH) with effect from January 1 next.

“Such charges (of three categories) will primarily remain effective for one year from January 1,” said a BB circular sent to the Managing Directors and Chief Executives of all the banks.

The central bank will realise Tk 25 plus VAT (value added tax) for high value cheque clearing from the respective bank while Tk 50 plus VAT from clients.

It will also impose Tk 5 plus VAT for regular value cheque clearing and any EFT (electronic fund transfer) transactions.

In that case, the bank will realise Tk 7 plus VAT from the clients.

The BACH has two components - Bangladesh Automated Cheque Processing System (BACPS) and Bangladesh Electronic Funds Transfer Network (BEFTN) -- by which the clients were availing themselves of modern banking facilities.

News: The Daily Sun/Bangladesh/14-Nov-12