bKash:

Mobile Financial
Services Provider

Date of Submission: 2nd June 2013

 bKash: Mobile Financial Services
Provider

Submitted To
Md. Sajib Hossain
Lecturer
Department of Finance
University of Dhaka

Submitted By
Group - 09

No. Students’ Name Students’ ID.

1. Muhammad Kamrul Hasan 16-003
2. Md. Sazidul Islam 16-037
3. Md. Khalid Rahman Gazi 16-045
4. Md. Shamsuddin 16-055
5. Abdul Malek 16-059
6. Md. Mehedi Hasan 16-087

Date of Submission: 2nd June 2013

 Letter of Transmittal

June 2, 2013

Md. Sajib Hossain

Lecturer
Department of Finance
University of Dhaka

Subject: Submission of Report on bKash: Mobile Financial Services Provider.

Dear Sir,

We are pleased to submit the report you have assigned to us. The report paper aims at showing
mobile financial services provided by bKash.

We have tried our best to make this report a fault free one and we hope that you will take any
unintentional mistake with kind consideration.

Sincerely yours,

Muhammad Kamrul Hasan

On behalf of the Group - 09

BBA 16TH Batch
Sec-A, Roll-16-003
Department of Finance
University of Dhaka
 Executive Summary
Use of mobile phone has increased incredibly in Bangladesh and people are becoming familiar
with many services that can be provided with mobile phone. BRAC bank, a leading private bank
in Bangladesh, understood the opportunity of exploiting the increasing trend of using mobile
phone in providing financial services. With the objective of providing financial services to every
corner of Bangladesh through mobile phone, it along with Money in Motion LLC, USA
established bKash. Today it has expanded its services to the most of the part of Bangladesh and
has connected thousands of people to its service within a very few short time of its inception.
Through bKash one can do a great deal of transaction without having a bank account and even
without holding cash physically. Depositing, withdrawing, Transferring money, making
payment, getting remittance, using ATM, getting statements – all can be done through bKash and
at a very low cost. The most important thing is that one only needs a mobile phone and bKash
account and nothing more to get all the services. It provides fully secured services using
advanced technology of VISA. In a word, bKash has introduced a new world of using mobile
phone in Bangladesh as well as a new world of financial services.
 Table of Content
No Contents Page no
1. Introduction 1
2. Company Profile 2
3. Mission 2
4. Benefits 3
5. Terms and Definitions 5
6. Open an Account at a bKash Agent 6
7. To become an Agent 7
8. Products & Services 8
9. Security Measures 16
10. bKash Network 19
11. bKash Vs. SMS Banking 20
12. bKash Vs. mCash 21
13. Conclusion 22
14. Appendix 23

 Introduction
The advancement of new technologies has introduced many inventions in the field of Finance
which make the financial system more comprehensive, speedier and more convenience. Mobile
phone is one of the latest inventions of modern science and has already got a wide acceptance
throughout the world. Its wide use brings the opportunity to involve it in the financial system as a
medium of providing financial services. The services provided through mobile phone have thus
got the name of “Mobile Financial Services”. It is completely different from the narrowest form
‘SMS Banking’ because here a completely different procedure is used. One does not have to
open a bank account rather a Mobile Account to get the services. In Bangladesh, Mobile
financial services have got its popularity very recently and bKash is the most influencing
organization behind this popularity.

In Bangladesh to provide mobile financial service a bank has to follow the Guideline
on Mobile Financial Services (MFS) for the Banks issued by Department of Currency
Management and Payment System, Bangladesh Bank. How bKash has complied with the
guideline is not the issue of this report rather it discussed the financial services provided by
bKash and the procedures. Most of the data used to prepare this report has been collected from
bKash and its website.

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 Company Profile
bKash Limited (a subsidiary of BRAC Bank) is a joint venture between BRAC Bank Limited,
Bangladesh, and Money in Motion LLC, USA. The ultimate objective of bKash is to ensure
access to a broader range of financial services for the people of Bangladesh. It has a special focus
to serve the low income masses of the country to achieve broader financial inclusion by
providing services that are convenient, affordable and reliable.

More than 70% of the population of Bangladesh lives in rural areas where access to formal
financial services is difficult. Yet these are the people who are in most need of such services,
either for receiving funds from loved ones in distant locations, or to access financial tools to
improve their economic condition. Less than 15% of Bangladeshis are connected to the formal
banking system whereas over 50% have mobile phones. These phones are not merely devices for
talking, but can be used for more useful and sophisticated processing tasks. bKash was conceived
primarily to utilize these mobile devices and the omnipresent telecom networks to extend
financial services in a secure manner to the under-served remote population of Bangladesh

Mission
By providing financial services that are convenient, affordable and reliable, bKash aims to widen
the net of financial inclusion. bKash wants to provide a solution for Mobile Financial Services,
built on a highly scalable Mobile Money platform, allowing people of Bangladesh to safely send
and receive money via mobile devices.

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 Benefits
Fast – it takes less than a minute
bKash is dedicated to widening the net of financial inclusion among the people of Bangladesh by
facilitating money transfer through mobile phones. It provides Mobile Financial Services
allowing customers to send, receive, and pay money from their mobile phones. Send and receive
money, or make payments the fastest way there is! bKash enables one to send money to anyone,
using an advanced technology available on his/her own mobile phone. The recipient will receive
money instantly, no matter where s/he is. Payments through bKash also makes one’s life easier
as he does not have to go back home or anywhere else for bringing cash when he needs to buy
something and he is out of cash. Even if one does not have the required amount in his/her bKash
Account, someone else can easily send him/her the amount in times of need. And all it takes less
than a minute to complete transaction.
Secure – 100% safe
Money in one’s bKash Account won't be lost even if s/he loses mobile phone. Every transaction
is protected by his/her very own PIN and what's more, state-of-the-art technology provided by
VISA (Fundamo platform technology) ensures that one’s money is always safe and secure in
bKash system.

One’s PIN is his/her Personal Identification Number that s/he creates when registers for
bKash. Each transaction one makes needs to be authorized by entering PIN. To ensure 100%
safety of one’s own account, s/he must not share PIN with anyone.

bKash places a high priority on protecting information to assure that one’s transactions and data
are secure with bKash. bKash security and compliance practices are regularly audited to ensure
that they meet the highest standards.

Convenient – no queue, no waiting, anytime

bKash users enjoy increased convenience of accessing their finances from their own mobile
phones anytime, anywhere. bKash gives one the flexibility to perform transactions 24 hours a
day, 7 days a week, regardless of time and place. No queues no waiting; the most convenient
way of transferring money.

Be it on a bus, train, launch, or anywhere else; as long as one has a bKash Account on his/her
mobile phone, s/he can access own account and send or receive money in seconds.

3
The bKash interface also uses a very easy and simple instruction based USSD channel. By
dialing *247#, anyone can transfer money just by tapping a few buttons on his or her mobile
phone. bKash is the most convenient way of transferring one’s money.

Nationwide – anywhere, anyplace

bKash is the easiest and safest way to send or receive money instantly on one’s mobile,
nationwide. No matter where s/he is in Bangladesh, bKash is always with him/her.

bKash has extensive distribution network consisting of more than 40,000 agents covering each
district and Thana along with around 300 BRAC Bank ATMs to provide with the nationwide
reach and capacity that one needs to avail bKash services at a close proximity.

The service is supported by mobile networks of all the leading MNO’s which enables one access
his/her bKash Account even from the remotest areas of Bangladesh.

Affordable – low transection and opportunity cost

Sending and receiving money requires minimal effort and cost. bKash provides the highest
benefit to its customers at an affordable cost, enabling everyone to access the formal financial
system of the economy.

In addition to eliminating initial monetary costs involved in entering the banking system, bKash
greatly minimizes opportunity costs such as time and effort required to access such services. The
service charges are minimal and there are no hidden costs involved.

Open a bKash Account on your own mobile and experience how bKash saves unexpected and
incidental costs for you. It does not also require any expensive handset rather any type of mobile
phone set can be used.

4
 Terms and Definitions
 bKash Account – It's a virtual storage of money and can be accessed through mobile phone.
After registration, one’s mobile number will be his/her bKash Account number.
 Registration – Opening a bKash Account on one’s mobile phone.
 bKash Mobile Menu – The menu one sees after dialing *247#
 Cash In – Depositing money into one’s bKash Account.
 Send Money – Transferring money from one bKash Account to another bKash Account.
 Cash Out – Withdrawing money from one’s bKash Account. One can Cash Out from any
bKash Agent Point or from BRAC Bank ATM.
 Payment – When one pays from his/her bKash Account to a seller against product or service
s/he purchases.
 My bKash – My bKash is an option on one’s bKash Mobile Menu from which one can
check his/her account balance, see mini statement, activate ATM Cash Out service and
change your PINs .
 bKash Mobile Menu PIN – This is a secret number like a password to secure one’s bKash
Account.
 bKash ATM PIN – This is also a secret number to be used when one cashes out from ATM.
 Security Code – Security Code is a onetime PIN. When one cashes Out from ATM, one
needs to generate a Security Code which can be used only once and remains valid for one
hour.
 Transaction ID – A system generated unique reference number against each transaction that
is preserved as identification.

 USSD Channel - Unstructured Supplementary Services Data Channel, a Gateway that routes
USSD messages from the signaling network to a service application and back. USSD
messages travel over GSM signaling channels and are used to query information and trigger
services. Unlike similar services (SMS and MMS), which are store and forward based, USSD
establishes a real time session between mobile handset and application handling the service.

5
 Open an Account at a bKash Agent
Opening a bKash Account is an easy one time process. Once one has an Account, s/he can use all
bKash services. Currently, Account opening is available in Robi, Grameenphone, Banglalink and
Airtel connections. Soon, subscribers from other operators will also be able to use bKash.

To open account one must fulfill the following conditions:

 Bangladeshi National
 Age 18 or above
 Having valid Photo National ID/Driving License/Passport
 Currently Robi, Grameenphone, banglalink and airtel subscribers. Purchasing a new SIM
card is not required and the existing SIM is enough to open bKash account.

To open a bKash Account:

1) Go to any nearby bKash Agent along with –

a. One’s mobile phone
b. A copy of Photo ID (National ID/Passport/Driving License)
c. 2 copies of Passport size photographs
2) Fill out the Account Opening Form and put your thumb print & signature properly. One
has to make sure that s/he has taken his/her copy (customer copy) from agent and
preserve it for future reference

After opening an Account, one needs to activate his/her bKash Mobile Menu. Steps below to
activate your mobile menu-

1) Go to bKash Mobile Menu by dialing *247#

2) Choose “Activate Mobile Menu”
3) Enter a new PIN for your bKash Account
4) Enter the PIN again to confirm

S/he will receive a confirmation message from bKash. PIN should be kept secret all the times.
The most important factor is that No Charge is applicable for account opening and activating the
account.

6
 To become an Agent
Becoming an agent of bKash is a lengthy process as it requires around 6 months. The steps are
shown below:

1) Fill up the form and submit it to the bKash office.

2) bKash will send those application forms to Bangladesh Bank via BRAC Bank.
3) Bangladesh Bank evaluates the application to assess the ability of the applicant to
becoming an agent of mobile financial services.
4) If the applicant passes the evaluation, BB will register his or her name as an Agent.
5) The applicant has to open an account with BRAC Bank with his or her Name and Mobile
No. BRAC Bank will provide the agent a DC-No which will be used to identify the agent.
6) Sales Representative (SR) of each area will verify the agent’s address and identity and
will load the account of the agent with the money he or she deposited earlier.

An agent then becomes an important party of the transaction between customers and bKash.

7
 Products & Services
Cash In
To deposit money into one’s bKash Account:
1) S/he needs to go to any bKash Agent
2) S/he needs to inform the agent of the amount to cash in.
3) Writing down one’s bKash Account Number and the Cash In amount in the Agent
Register
4) Paying the amount of money one wants to Cash In
5) In exchange, the agent will send balance to his/her bKash Account. Cash In done!
Customer and the Agent will both get a confirmation message from bKash. One needs to sign the
Agent Register before leaving the counter.

Tariff & Transaction limit

Amount Per Transaction Maximum Amount Charge
Service Minimum Maximum
Per Day(TK) Per Month(TK) Per (Tk)
(Tk) (Tk)

Cash In 50 125,000 125,000 125,000 Free

Cash Out
From Agent
If one has sufficient balance in his/her bKash Account, s/he can withdraw cash anytime from any
bKash Agent. To Cash Out from one’s bKash Account s/he needs to-

1) Go to any bKash Agent

2) Let the agent know the amount s/he wants to Cash Out
3) Write down his/her bKash Account Number and the amount in Agent Register
4) Dial *247# on his/her mobile for the bKash Mobile Menu
5) Choose “Cash Out”
6) Choose “From Agent”
7) Enter Agent’s bKash Account Number (ask the Agent)
8) Enter the amount
9) Enter his/her bKash Mobile Menu PIN

Customer and the Agent will both receive a confirmation message. One needs to count the
amount the agent gives him/her to make sure it is correct and sign the Agent Register before
leaving the counter.

8
 Tariff & Transaction limit
Amount Per
Maximum Amount Charge
Transaction
Service
Minimum Maximum Per
Per Day(TK) Per (Tk)
(Tk) (Tk) Month(TK)

Cash Out from 0.925 per 50

50 125,000 125,000 125,000
Agent tk

This charge will be automatically deducted from your bKash Account; no cash charge
applicable

From ATM
One can withdraw cash anytime from any bKash enabled BRAC Bank ATM.

ATM Cash Out Service Activation - To avail the bKash ATM Cash Out service, one needs to
activate this feature from his/her bKash Mobile Menu. This is a one-time action. To activate the
one needs to;

1) Go to his/her “bKash Mobile Menu” by dialing *247#

2) Go to “My bKash”
3) Choose “Activate ATM”
4) Enter a new 5 digit PIN. This PIN will be one’s “bKash ATM Cash Out PIN” and it is
better to make it different from his/her “Mobile Menu PIN”
5) Enter the PIN again to confirm

Customer will receive a confirmation message stating that s/he has successfully activated ATM
Cash Out service.

Cash Out from ATM:

A. ATM Cash Out Request

Each time one cashes Out from ATM; first s/he needs to generate a Security Code. To do so one
needs to;

1) Dial *247# to access bKash Mobile Menu

2) Choose "Cash Out"
3) Choose "From ATM"
4) Enter his/her bKash Mobile Menu PIN to request ATM Cash Out

Customer will receive a Security Code through SMS. This code will remain valid for one hour
and can be used only once.

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 B. Withdraw Cash from ATM

To withdraw cash from any bKash enabled BRAC Bank ATM, one needs to-

1) Press the “bKash Cash Out” button at the left-bottom corner of the ATM Screen
2) Select his/her language
3) Enter his/her bKash Account Number
4) Enter the amount s/he wants to Cash Out (Minimum BDT 2,000 to Maximum BDT
20,000)
5) Enter the Security Code s/he received through SMS
6) Enter bKash ATM PIN
7) Check the information s/he entered and confirm
8) Collect his/her cash and receipt

Customer will receive a confirmation message in mobile with the details of the ATM Cash Out
transaction

Tariff & Transaction limit

Amount Per
Maximum Amount Charge
Transaction
Service
Minimum Maximum Per Per
Per (Tk)
(Tk) (Tk) Day(TK) Month(TK)

Cash Out from 40 per 2000

2,000 20,000 20,000 50,000
ATM tk

This charge will be automatically deducted from your bKash Account; no cash charge
applicable.

Send Money
Send Money allows one to transfer money from his/her bKash Account to another bKash
Account. To send money one needs to-

1) Go to his/her bKash Mobile Menu by dialing *247#

2) Choose “Send Money”
3) Enter the bKash Account Number s/he wants to send money to
4) Enter the amount s/he wants to send
5) Enter a reference about the transaction. (Do not use more than one word, avoid space or
special characters)
6) Now enter his/her bKash Mobile Menu PIN to confirm the transaction

Customer and the Receiver both will receive a confirmation message from bKash.

10
 Tariff & Transaction limit
Amount Per
Maximum Amount Charge
Transaction
Service
Minimum Maximum Per Per
Per (Tk)
(Tk) (Tk) Day(TK) Month(TK)
2 for any
Send Money 10 10,000 10,000 10,000
amount

This charge will be automatically deducted from your bKash Account; no cash charge
applicable

Payment
One can make payments from his/her bKash Account to any “Merchant” who accepts “bKash
Payment”. For example, if one wants to pay after shopping s/he needs to-

1) Go to his/her bKash Mobile Menu by dialing *247#

2) Choose “Payment”
3) Enter the Merchant bKash Account Number s/he wants to pay to
4) Enter the amount s/he wants to pay
5) Enter a reference (if not applicable use ‘0’) against his/her payment (one can mention the
purpose of the transaction in one word. e.g. Bill)
6) Enter the Counter Number (the salesperson at the counter will tell him/her the number; if
not applicable use ‘0’)
7) Now enter his/her bKash Mobile Menu PIN to confirm

Customer will receive a confirmation message from bKash.

Tariff & Transaction limit

Amount Per
Maximum Amount Charge
Transaction
Service
Minimum Maximum Per Per
Per (Tk)
(Tk) (Tk) Day(TK) Month(TK)

Payment 1 No Limit No Limit No Limit Free

11
Example: Payment steps for iFeri.com
For example, if one wants to pay iFeri.com after shopping, s/he needs to -

1) Go to bKash Mobile Menu by dialing *247#

2) Choose “Payment”
3) Enter iFrei Merchant Account number 01711501371
4) Enter the amount s/he wants to pay
5) Enter the reference as '0'
6) Enter the counter number as '0'
7) Now enter his/her bKash Mobile Menu PIN to confirm

Customer will receive a confirmation message from bKash.

International Remittance
bKash brings the easiest and most convenient way of sending and receiving International
Remittance.

To send International Remittance from abroad to a bKash Account in Bangladesh one

needs to-

 Go to a participating Exchange House branch

 Let the Agent know that s/he wants to send money to Bangladesh through bKash
 Fill out the bKash related fields correctly on the remittance request form available at the
Exchange House
 The Exchange House Agent will help him/her complete rest of the process

While sending remittance through bKash, one needs to ensure that:

 Recipient’s number is a bKash Account number and belongs to one of the operators who
is partnered with bKash (currently Robi, Grameenphone, Banglalink or Airtel i.e. 018,
017, 019 or 016).
 The destination bKash Account number is entered as the 11 digit Bangladeshi mobile
number starting with 018, 017, 019 or 016 e.g. 01XXXXXXXXX. The international
dialing and country code should not be included i.e. there is no “+88”.
 Recipient’s bKash Account number is correct.
 The number has been written clearly & accurately in the correct field.
 The BDT Value of sent remittance does not exceed bKash standard transaction limits.

Countries and Exchange Houses from which one can send Remittance to Bangladesh:

 UAE
 Al Rostamani International Exchange (ARIE)

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  Al Ahalia Money Exchange Bureau
 Orient Exchange
 UK
 BRAC Saajan Exchange

To receive International Remittance on one’s bKash Account s/he needs to:

 To have a bKash Account.

 Communicate his/her bKash Account number to the sender. The sender will use this
number for terminating the remittance amount.
 When the money reaches his/her bKash Account, s/he will receive a confirmation
message on mobile phone.

Tariff & Transaction

Amount Per Charge
Maximum Amount
Transaction
Service
Minimum Maximum
Per Day(TK) Per Month(TK) Per (Tk)
(Tk) (Tk)
Receive International
Remittance
50 125000 125000 250000 Free

One may send larger amounts than the above limit by sending to multiple bKash Accounts of the
recipient or any other person of his/her family.

A bKash Customer can keep a maximum amount of Tk. 150,000 in his/her bKash Account at any
moment. For example, if s/he has Tk. 50,000 in his/her account, you can send him/her a
maximum amount of Tk. 100,000 in Bangladeshi currency at that specific account.

bKash Token
In case a customer cannot afford a mobile phone, they will be able to receive money using the
bKash service. Registered bKash users will be able to generate a limited size token valid for
limited days, which will have a voucher number, password and recipients' photo ID. After
receiving the voucher number and password, an un-phoned customer will be able to withdraw
the fund at a registered bKash agent after showing the photo ID. In that way, bKash takes
financial services beyond network barriers.

13
My bKash
Check Balance
One can check his/her bKash Account balance anytime from the "Check Balance" option. To
check one’s current Account balance s/he needs to -

1) Go to his/her bKash Mobile Menu by dialing *247#

2) Choose “My bKash”
3) Choose “Check Balance”
4) Enter his/her Mobile Menu PIN

Customer will see his/her current and available balance of bKash Account. No charge will be
applicable for checking balance.

Request Statement
To see a Mini Statement with details latest transactions one needs to:

1) Go to his/her bKash Mobile Menu by dialing *247#

2) Choose “My bKash”
3) Choose “Request Statement”
4) Enter his/her Mobile Menu PIN

Customer will see the dates, types and amounts of his/her last 6 transactions. No charge will be
applicable for requesting statement.

Change Mobile Menu PIN

For ensuring the security of one’s bKash Account, it is recommended that s/he change his/her
bKash Mobile Menu PIN when s/he feels that it may have been compromised. To change the
PIN one needs to-
1) Go to his/her bKash Mobile Menu by dialing *247#
2) Go to “My bKash”
3) Choose “Change Mobile Menu PIN”
4) Enter his/her “Old PIN”
5) Enter a new PIN to replace the old one
6) Enter the new PIN again to confirm

Custmer will see a confirmation message of his/her PIN change status. No charge will be
applicable for changing mobile menu PIN.

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Activate ATM

To avail the bKash ATM Cash Out service, one needs to activate this feature from his/her bKash
Mobile Menu. This is a onetime action. To activate ATM Cash Out service one needs to-

1) Go to his/her “bKash Mobile Menu” by dialing *247#

2) Go to “My bKash”
3) Choose “Activate ATM”
4) Enter a new 5 digit PIN. This PIN will be his/her “bKash ATM Cash Out PIN” and is
better to make it different from his/her “Mobile Menu PIN”
5) Enter the PIN again to confirm

Customer will receive a confirmation message stating that s/he has successfully activated ATM
Cash Out service. No charge will be applicable for this service.

Change ATM PIN

For ensuring the security of one’s bKash ATM Cash Out PIN, it is recommended that s/he
changes it when s/he feels that it may have been compromised. To change the PIN one needs to:

1) Go to his/her bKash Mobile Menu by dialing *247#

2) Go to “My bKash”
3) Choose “Change ATM PIN”
4) Enter his/her old PIN
5) Enter a new 5 digit PIN to replace the old one
6) Enter the new PIN again to confirm

Customer will see a confirmation on his/her mobile that s/he has successfully changed Old PIN.
No charge will be applicable this service.

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 Security Measures
bKash is providing a new kind of service in this country and to ensure its prosperity the security
of the services provided is a great concern. bKash takes lots of measures to ensure security for its
customers which are:

bKash mobile menu PIN

This PIN is used in every transaction and in doing any activities related to the account like check
balance or change PIN. Without PIN one cannot do any transaction and cannot get any
information about the account. It should be carefully remembered that bKash mobile menu PIN
is not same as SIM card PIN and they are different. So, in choosing PIN for bKash one must be
careful thus both these PIN do not become same. If someone forgets the PIN, s/he must call
bKash Helpline 16247 immediately.

bKash ATM PIN

It is used only for transactions related with ATM. To provide extra protection to ATM
transaction it is added by bKash.

Security Code

As the ATM transaction is highly risky, extra feature of security is added to transaction with it.
This onetime code is provided to the customer just before conducting transaction in ATM and
remains valid for very short time.

Confirmation SMS

Confirmation SMS is send after every transaction to help the customer to understand whether
he/she makes the correct transaction.

Multiple times error handling

If someone enters wrong PIN for 3 consecutive times, his/her account will be temporarily
blocked. She/he has to contact bKash Helpline 16247 to prove ownership and unblock the
account.

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Security tips
A little attention can save us from many unwanted incidents. Here are some tips to ensure safety
to one’s bKash Account and Transactions:

Things one should do:

1) Fill up the Registration Form with true, correct and complete information. This
information will be used to verify identity and ownership of one’s bKash Account in case
s/he forgets his/her PIN, lose mobile phone, or other instances. So, after registration, one
needs to collect his/her copy (Customer Copy) from Agent and preserve it for future
reference.

2) Keep PIN, Secret Code and Security Code secret at all times.

3) To have full control and knowledge of transactions, s/he should use own bKash account.

4) Verify authenticity of Recipient in every transaction, and be mindful while entering

Amount, bKash Account number, PIN, Security Code, Secret Code, and other
information related to his/her bKash Account and transaction. If somehow any customer
sends money to a wrong number, he or she must call bKash Helpline 16247 without any
delay.

5) When cashing out from Agent Point, use only "Cash Out from Agent" option from his/her
bKash Mobile Menu.

6) Check Account balance before and after each transaction made.

7) Be sure that a transaction SMS from "bKash" after each transaction has been arrived and
ensure that the balance information matches expected balance. If transaction SMS is
unavailable, one must contact bKash Helpline. Before contacting Helpline it will be wise
to check the balance for clarifying the problem.

8) Ensure that SMS inbox of phone has sufficient space to receive confirmation SMS from
bKash. If one’s inbox is full, s/he will not receive these notifications.

9) In case mobile phone is lost, immediately inform bKash Helpline 16247.

17
Things one should not do:
1) Never write down PIN, Secret Code and Security Code here and there or share them with
anyone. bKash authorities will not ask for one’s PIN, Secret Code or Security Code at
any time.

2) Never respond to any communication regarding lottery, prize or competition. Consult

bKash Helpline 16247 to verify authenticity of any phone call or SMS regarding such
communication.

3) Never lend phone to anyone who is unknown.

4) Never use others' bKash Account for own transaction. bKash Registration is completely
free of cost.

5) Never cash out using "Send Money" option to the Agent's personal account number.

bKash will not be liable for any human error, misrepresentation or fraudulent activity arising
from use of the service.

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 bKash Network
bKash maintains a huge network to provide its services. A simple form of the network is shown
below for illustration.

1) When sender user uses USSD menu the commands of the user goes to the mobile
operators via GSM network.
2) Mobile operators pass the signals to bKash software via the system provided by VISA’s
Fundamo platform technology.
3) bKash’s software contacts with the software of BRAC Bank to conduct the transaction.
4) BRAC Bank’s software passes the information to the bKash after processing the
transaction.
5) bKash sends the information to the mobile operators of sender and receiver.
6) The sender user receives the information and the recipient user receives the money.

The users deposit or collect money from or to the agents. Agents contact with bKash via mobile
phone and via direct contact. They receive the money they sent and provide the money they
received to the Sales representative (SR). SRs are directly appointed by bKash and they conduct
transactions using account in BRAC bank. bKash has direct affiliation with BRAC Bank.

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 bKash Vs. SMS Banking
SMS Banking is another innovation in financial services where mobile phone is used. But this
service is quite different from the services provided in mobile financial service. SMS banking is
much narrow form of service provided by financial institutions but often creates confusion for its
involvement with mobile phone. The following table draws clear line in between SMS banking
and Mobile financial services through showing the differences between SMS Banking of Brac
Bank and bKash:

SMS Banking bKash

Services are provided through SMS Services are provided through USSD menu
Very few services (mainly information) are
Wide range of services
provided
No Transaction can be made Transaction can be made
Bank account is required Bank account is not required
No agent involvement Agent involvement is present
Services includes:
Services includes:
 Cash In
 Instant Account Balance & Mini
 Cash Out
Statement
 Send Money
 Fixed Deposit Maturity Alarm
 Payment
 High Value Transaction Alert
 International Remittance
 Account status change alert
 Check Balance
 Welcome alert (for account opening)
 Request Statement
 Payment (loan) failure alert
 Change Mobile Menu PIN
 Cheque clearing failure alert
 Activate ATM

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 bKash Vs. mCash
Like bKash another mobile financial service provider is mCash which is a service provided by
Islami Bank Bangladesh Limited (IBBL). As both bKash and mCash provide same kind of
services, a comparison between these two will be worthy. Following table shows the differences
and similarities:

Items bKash mCash Comparison

Not Mandatory. Free of
Bank Account No Need. Free of Charge Match
Charge
Transaction Convenient: 24/7 Convenient: 24/7 Match
Differentiated by
Profit/Interest Not Available Profit Sharing
mCash

Differentiated by
ATM Service Available Not Available
bKash

Agent-Amount – Agent-Amount –
Cash In Confirmation. Free of Confirmation. Free of Match
Charge Charge

Agent-*247#-Cash Out Agent-*259#-Cash Out

Match except ATM
Menu-Agent’s bKash Menu-Agent’s mCash
cash out service by
Number-Amount-PIN Or Number-Amount-PIN. Tk
Cash Out bKash. And Charge
ATM. 40 tk per 5 or 1.5% of amount
goes in favor of
2000.Max amount daily which one is higher. Max
mCash
20000 tk. amount daily 25000 tk

*259#-Fund Transfer-
Receiving Account-
*247#-Send Money-
Amount-PIN. mCash-
Receiving Account- Match. But Charge
Send or mCash 4, IBBL A/C-
Amount-PIN. Charge 2 goes in favor of
Transfer mCash 5 per transaction.
per transaction. Max bKash
mCash-IBBL 5 or .75% of
amount 10000 tk daily.
amount. Max amount
5000 tk daily.

*247#-Payment-Merchant Match except Use of

*259#-Merchant Payment-
bKash Account No.- Reference and
Merchant mCash Account
Payment Amount-Reference & Counter Number
No.-Amount-PIN. Free of
Counter-PIN. Free of used in case of
Charge. No limit.
Charge. Max no Limit. bKash

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 *259#=Recharge Menu-
Mobile Differentiated by
Not Available Mobile Number-Amount-
Recharge mCash
PIN. Free of Charge.
Receiver Must have
Receiver Must have mCash Account. From
Foreign bKash Account. Free of IBBL Branch Free but Match. Charge goes
Remittance Charge. Max amount tk from mCash Agent tk 5 or in favor of bKash
125000 1.5% one amount &
higher one.
*247#-My bKash-Check *259#-My Wallet-Balance
Balance Check Balance-PIN. Free of Check-PIN. Free of Match
Charge. Charge.

*247#-My bKash-
*259#-My Wallet-Mini
Mini Statement Request Statement-PIN. Match
Statement-PIN. Free
Free

*247#-My bKash-Change *259#-My Wallet-Change

PIN Change PIN-Old PIN-New PIN- PIN-Old PIN-New PIN- Match
Confirm PIN. Free Confirm PIN. Free

Robi-Airtel-Banglalink- Differentiated by
Operators ALL
GP mCash

Conclusion
There is no doubt that bKash has brought remarkable change to the experience of mobile phone
users as they are now able to get wide range of financial services through their mobile phone.
The convenience, security and speed it provides, has almost banished the other old medium of
money transfer in Bangladesh. It is only a matter of time that its distinctive features and services
will soon make it the most successful and popular financial institution of the country.

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 Appendix
Transaction Limit
Maximum
Number of Amount Per Transaction Maximum Amount
Transaction Transactions
Type
Per Minimum Maximum Per Day Per Month
Per Day
Month (Tk) (Tk) (Tk) (Tk)

Cash In 5 50 50 125,000 125,000 250,000

Send Money 20 70 10 10,000 10,000 25,000
Cash Out
5 50 50 125,000 125,000
from Agent
250,000
Cash Out
5 50 2,000 20,000 50,000
from ATM
No
Payment No Limit 1 No Limit No Limit No Limit
Limit

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 Tariffs & Transactions
Amount Per
Services Maximum Amount Charge
Transaction
Minimum Maximum Per Day Per Month Per
(Tk) (Tk) (TK) (TK) (Tk)
Registration N.A N.A N.A N.A Free
Cash In 50 125,000 125,000 125,000 Free
2 for any
Send Money 10 10,000 10,000 10,000
amount*
Cash Out from 0.925 per 50
50 125,000 125,000 125,000
Agent Tk*
Cash Out from 40 per 2000
2,000 20,000 20,000 50,000
ATM Tk*

Payment 1 No Limit No Limit No Limit Free

Check Balance N.A N.A N.A N.A Free

Statement Request N.A N.A N.A N.A Free

Change Mobile PIN N.A N.A N.A N.A Free

Activate ATM N.A N.A N.A N.A Free

Change ATM PIN N.A N.A N.A N.A Free
Receive
International 50 125000 125000 250000 Free
Remittance

* This charge will be automatically deducted from your bKash Account; no cash charge
applicable.

** N.A. = Not Applicable

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