Bangladesh Electronic Fund Transfer Network (BEFTN)

·        Provides interbank payment and settlement of electronic debits and credits,

·        End to end electronic (required no instrument).

·        EFT Operates countrywide and it has prompt settlement cycle.

·        Credit transactions may include payroll Corporate and Govt. Dividend, Interest and Refund Payments, Inward Foreign Remittances, Tax Payments, Customer initiated transactions (online purchase) etc.

·        Debit transactions may include Utility Bill payments, Mortgage/Loan Installment (EMI).Insurance premium, Club/Association Payments Etc.

·        Less Expensive than Cheques & other paper based payments

·        Reduces fraud risks of cheque & paper based payments.