Bangladesh Electronic Funds Transfer Network
Bangladesh Electronic Fund Transfer Network (BEFTN) is a Bangladeshi electronic fund transfer network between banks within Bangladesh.[1] Its main purpose is to transfer funds between bank accounts.[2] The network can settle debit and credits. Salary, bill, dividend, interest could be paid through the system.
History[edit]
The network was established in 2011.[3]
From November 2023, fund transfer of Bangladesh Automated Clearing House (BACH) was to be accomplished through Nikash-BEFTN.[4][5][6]
References[edit]
- ^ Payment and Settlement Systems — Bangladesh Bank
- ^ Bangladesh Electronic Fund Transfer Network — Bangladesh Bank
- ^ "Payment and Settlement Systems". Bangladesh Bank. Retrieved July 9, 2024.
- ^ "Electronic fund transfers thru Nikash-BEFTN software from November 12". The Daily Star. 2023-11-09. Retrieved 2024-04-16.
- ^ নিকাশ-বিইএফটিএন ইলেকট্রনিক ফান্ড ট্রান্সফার শুরু. Jagonews24 (in Bengali). 2023-11-13. Retrieved 2024-04-16.
- ^ "Long wait for poor to get cash set to end with new fund transfer software". The Business Standard. 2022-01-31. Retrieved 2024-04-16.