From now, Sonali Bank customers can do their banking transactions through bKash app 24/7 from any place allowing them two way fund transfer facility between bank and bKash. As a result, customers will enjoy more freedom and flexibility at their finger-tip as there is no limitation of regular banking hours, a press release said.
Sonali Bank, the largest state-owned commercial bank, in partnership with the largest mobile financial service provider bKash, inaugurated the two-way (bank to bKash ‘Add Money’ and bKash to bank ‘Transfer Money’) instant fund transfer service on 24th February, 2021 at a hotel in the capital.
This joint service is launched to uplift people’s living standard through digital financial inclusion which is another step towards the realization of Digital Bangladesh. With this, 25 million customers of 1225 Sonali Bank branches can experience seamless, secure, time-saving and cost-effective banking services. At the same time, these small-amount transactions through bKash will reduce pressure on bank branches and create opportunities to pay more attention to the customers with specialized needs.
Zunaid Ahmed Palak, MP, Minister of State for Information and Communication Technology (ICT) was the chief guest of the event. Md Ashadul Islam, Senior Secretary of the Financial Institutions Division of the Ministry of Finance and Ziaul Hasan Siddiqui, Chairman of the Board of Directors of Sonali Bank were present as special guests. Md. Ataur Rahman Prodhan, CEO & Managing Director of Sonali Bank Limited; Kamal Quadir, Chief Executive Officer of bKash and other high officials of Bangladesh Bank, Sonali Bank and bKash were also present at the event.
Customers can easily link their Sonali Bank account credentials with bKash app in few simple steps. Credentials of both the accounts should match. After linking account, customers can easily ‘Add Money’ from bank to bKash and also ‘Transfer Money’ from bKash to Sonali bank accounts 24/7. Through Transfer Money service, customers can avail services like payment of DPS or loan installments, depositing money to bank account, etc. from home. However, for both services, the ‘limit’ set by Bangladesh Bank will be applicable.
Zunaid Ahmed Palak, State Minister of ICT, the chief guest of the inaugural ceremony said, “Digital financial services have empowered people to meet the challenges of COVID crisis. At the same time the importance and usefulness of MFS has become more vivid. Such a joint venture between the two largest public and private financial service providers has undoubtedly paved the way for ensuring digital financial services in every sphere of life and thus enhancing financial inclusion.”
Md Ashadul Islam, Senior Secretary of Financial Institutions Division said that this initiative of Sonali Bank and bKash will play a pioneering role for establishing a cashless society.
Ziaul Hasan Siddiqui, Chairman of the Board of Directors of Sonali Bank, said that customers would be able to Cash Out from the nearest bKash agent points after doing bank to bKash Add Money anytime and also Transfer Money from bKash to Sonali Bank account as per their need.
Md. Ataur Rahman Prodhan, CEO and MD of Sonali Bank said, “We are integrating wide range of technology-based banking solutions to ensure seamless services including the facility of opening account from home for our customers all over the country. This digital integration of Sonali Bank with bKash has created an opportunity for bringing more diverse financial services to cater the emerging needs of customers.”
Kamal Qadir, Chief Executive Officer of bKash said, “Through our integration with the customer-friendly largest state owned commercial bank, customers of bKash and Sonali Bank will be benefited as they can avail the services of both the organizations. We have ensured maximum customer safety for this linked service. This joint venture will surely complement banking services and help the banks to bring more innovative services to be catered through digital platforms. It will further contribute to the creation of effective digital financial ecosystem in the country.”