What is Binimoy? Benefits and Transaction Charges

Now money can be sent from one mobile banking account or bank account to any other mobile banking or bank account instantly.


On 13 November 2022, Bangladesh’s first mobile banking and the central medium of inter-bank transactions ‘Binimoy’ was launched. Although the inter-bank transaction systems NPSP and BFTN have been in operation for a long time, mobile banking (MFS) such as Bikash, Rocket, and Cash did not have any inter-transaction system.

Bangladesh Bank was working on this issue for a long time ago. First, Bangladesh Bank wanted to include mobile banking in the NPSB (National Payment Switch Bangladesh) facility. Later it was no longer done.

Now a completely separate transaction network “Exchange” has been launched. Where a user will have a unique exchange ID through which transactions will be made. Let’s know more about it.


What is Binimoy?

Binimoy is an Interoperable Digital Transaction Platform (IDTP) regulated by the Central Bank of Bangladesh where transactions can be made between bank accounts, mobile banking, and payment services.

To transact through the exchange, the customer must first open an exchange account. That is to register on the exchange network. After registering the exchange account, a unique ID of the customer will be generated. For example, abdulahwal@binimoy is such an ID.

Through this ID, a sender can send money from any bank account or mobile banking account to the receiver’s exchange ID. The recipient can receive money through the bank or mobile bank account linked to his Binimoy ID.


The initial cost estimate for the ‘Binimoy’ platform was around Rs 55 crore. Later this cost increased to 65 crores.

Orion Informatics Limited, Microsoft Bangladesh Limited, FinTech Solutions Limited, and Sain Ventures Limited (JV) work on developing the exchange platform. Among them, Orion Informatics Limited and Fintech Solutions will provide maintenance services.

Benefits of Binimoy Account

Currently, a large number of people in the country’s rural population do not have bank accounts. Meanwhile, services like bKash, Nagad, and Rocket have reached all corners of the country. Due to different people using different mobile banking accounts, there is some difficulty in transactions.

For example, those using bKash cannot send money to Rocket or Nagad users. In this case, one has to use bKash, Rocket, Nagad, and other mobile accounts at the same time.


Binimoy will remove this problem through its inter-transaction services. Now a person can send money from his Binomoy account to any other Binimoy account. And you can receive money through a mobile bank account or bank account linked to the Binimoy Account.

Where is Binimoy Service Available?

Initially, transactions are being initiated through exchanges between 11 institutions. Of these, 8 are banks and the remaining three are MFS institutions.

Banks where Binimoy is available

  • Sonali Bank
  • BRAC Bank
  • UCB Bank
  • Eastern Bank
  • Mutual Trust Bank
  • Pubali Bank
  • Al Arafah Islami Bank
  • Islamic Bank
  • Midland Bank

Mobile Banking Services where Binimoy is available

  • bKash
  • Rocket
  • mCash
  • CellFin

Payment Services offering Binimoy Facility

  • Tallypay

How much is Binimoy transaction charge?

The central bank has decided how much will be the other charges and fees including the transaction of ‘Binimoy’ service. On 10 November 2022, Bangladesh Bank’s Payment Systems Department finalized the charge fee and issued the Binimoy Charge Circular.

According to the circular, in case of any transaction using the system, the receiving institution will pay 0.50 paisa to Bangladesh Bank.


In addition, the following charges will be applicable for using the Binimoy platform.

SenderReceiverCharges (%)Highest Charges from Customer
BankBank0.0010 Taka
BankPayment Service Provider (PSP)0.450.00
BankMobile Banking (MFS)0.450.00
Payment Service Provider (PSP)Bank0.001.00
Payment Service Provider (PSP)Payment Service Provider (PSP)0.750.50
Payment Service Provider (PSP)Mobile Banking (MFS)0.750.50
Mobile Banking (MFS)Bank0.001.00
Mobile Banking (MFS)Payment Service Provider (PSP)0.750.50
Mobile Banking (MFS)Mobile Banking (MFS)0.750.50
Binimoy Charges

You may be confused by the exchange charges given by Bangladesh Bank. For that, I am simplifying this. Read bellow.

Bank to bank

Bangladesh Bank will not charge any charges for bank-to-bank transactions. In this case, the paying bank can charge a maximum of 10 Taka for service charges.

MFS/PSP from Bank

On the other hand, the customer does not have to pay any service charge to send money to the payment service and mobile banking from the bank. As yet there is no fee to add money from a bank to a mobile bank.

Bank to MFS/PSP

However, a maximum fee of 1% has to be paid in case of sending money from payment service and mobile banking to the bank.


A maximum fee of 0.50% will be charged by the Paying Institution from the Customer for transactions from Payment Service/Mobile Banking Service to Payment Service/Mobile Banking.

For more information about citizen services, online banking, passport and visa, visit Eservicesbd.com


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