Bangladesh introduce debit card Taka Pay.

চালু হলো বাংলাদেশের নিজস্ব কার্ড টাকা-পে

The Taka Pay card is a domestic debit card initiated by Bangladesh Bank. It was launched on November 1, 2023 by Prime Minister Sheikh Hasina. The first three banks to roll out Taka Pay cards are Brac Bank, City Bank, and Sonali Bank.

The TakaPay card aims to serve as a convenient means for electronic transactions between banks, financial institutions, and companies. The government's goal is to reduce reliance on international card networks like Visa and Mastercard, resulting in lower foreign exchange.

Benefits of Taka Pay Card

• Withdraw cash from ATMs

• Make payments at point-of-sale (POS) terminals

• Make online purchases

• Make contactless payments

• Sovereign domestic payment system.

• Saves foreign currency.

• Secured transactions.

• Lower transaction costs.

• Promotes digital economy.

Currently, Taka Pay cards are being offered by Brac Bank, City Bank and Sonali Bank. More banks are expected to start issuing Taka Pay cards soon.

Eligibility for Taka Pay Card

 Citizen of Bangladesh

 Have a bank account with any commercial bank offering Taka Pay cards.

 Provide KYC documents like national ID card, passport, driving license etc.

How to Apply for Taka Pay Card:

You can collect the Taka Pay card application form online or physically from your nearest bank branch. The application form will require you to provide personal details. These include:

• Copy of national ID card/birth certificate

• Passport size photographs

• Proof of address (utility bill, rent agreement etc.)

Banks may charge a small application processing fee. This could range from Tk 100-500. The bank will verify your KYC documents and process (This may take 3-5 working days)  they will send the Taka Pay debit card to your registered address.

Check Balance and Mini Statement:

You can check your Taka Pay card balance and mini statement using: ATMs, SMS, Mobile app, Net banking, Email/SMS alerts.