Banks suspend foreign ATM cash withdrawals, some lower credit card limits

Banks suspend foreign ATM cash withdrawals, some lower credit card limits

The decision was taken because their regular transactions appear unusual in some countries

 

Some private commercial banks have decided to suspend all forms of cash withdrawal by their cardholders outside Bangladesh, while some have also lowered their credit card limits.

Many banks choose not to inform customers, saying the decision was made because the rising daily withdrawal amounts on their cards appeared unusual in some countries.

 

"All types of cash withdrawals outside the country with BRAC Bank cards have been suspended," the private commercial bank said in text message to its customers on Sunday.

Some private commercial banks have decided to suspend all forms of cash withdrawal by their cardholders outside Bangladesh, while some have also lowered their credit card limits.

Many banks choose not to inform customers, saying the decision was made because the rising daily withdrawal amounts on their cards appeared unusual in some countries.

 

"All types of cash withdrawals outside the country with BRAC Bank cards have been suspended," the private commercial bank said in text message to its customers on Sunday.

However, BRAC Bank cardholders can still make purchases through Point of Sale terminals and use e-commerce services within their designated travel quota, according to the SMS.

 

Earlier, the bank stopped cash withdrawals within the country using credit cards.

 

Mentioning that the suspension takes effect from Sunday, Selim R F Hussain, the managing director, told bdnews24.com, "Our bank's policy aims to promote digital and electronic payment capabilities while discouraging cash transactions, contributing to the vision of building a digital and smart Bangladesh."

"These measures are taken to ensure the security of the bank and safeguard our customers,"