Banks asked to extend services online during Eid holidays

The Bangladesh Bank today asked banks to provide online and internet-based banking services to clients round the clock during the upcoming Eid holidays.

Banks will have to deliver immediate financial services through automated teller machines, points of sale, internet banking and mobile financial services to clients, according to a Bangladesh Bank notice.

The BB asked the lenders to ensure automated teller machine (ATM) services for clients during the holidays and make sure that the ATMs have sufficient cash.

If any ATM machine face technical glitch, banks will have to solve it in the quickest possible time.

Eid-ul-Azha, one of the largest religious festivals of the Muslims, is scheduled to be celebrated on June 29. The government declares vacations for 5 days to celebrate the festival.

The central bank also asked banks to ensure POS service during the period when they have to run awareness campaigns to keep the clients alert from being victim to fraudulent activities.

Banks will have to ensure that the security tool of the two-factor authentication system works perfectly when clients will settle transaction through the method of card-not-present.

A card-not-present transaction occurs when neither the cardholder nor the credit card is physically present at the time of the transaction.

It is the most common for orders that happen remotely over the phone or by internet or mail.

The mobile financial service providers will have to provide services during the holidays. In addition, the agents of MFS providers will have to keep sufficient fund in their shops such that clients can withdraw fund uninterruptedly.