Nagad users can now transfer money from banks

Users of Nagad, the mobile financial service provider of the Bangladesh Post Office, can now transfer money from their bank accounts to the digital walletat any time.

Besides, they can add money to Nagad wallets from any Visa and MasterCard cards issued in Bangladesh.

Nagad has rolled out the service quickly with 13 banks considering the convenience of the customers.

The banks are Midland Bank, Exim Bank, Mutual Trust Bank, First Security Islami Bank, Community Bank, Shahjalal Islami Bank, NRB Bank, Social Islami Bank, Premier Bank, IFIC Bank, Union Bank, NRBC Bank, and National Bank.

Nagad is going to ink similar deals with several other banks very soon for expanding the coverage of the service. 

Nagad has offered the facilities free of costduring the Covid-19 pandemic to its crores of users for safe transactions without visiting anywhere, says a press release.

In case of emergency, customers can go to more than two lakh Nagad entrepreneur points spread across the country and cash out funds at the lowest cost by following hygiene rules.

Tanvir A Mishuk, managing director of Nagad, said, "Nagad has been working to make people's lives easier since its inception. As a continuation, the facility of bringing money free of cost from various banks to Nagad wallets has been launched."

When banks were providing a limited range of services because of the pandemic, the service of adding money easily to Nagad wallets had given much-needed relief to many customers in securing day-to-day financial services, he said.

"We are working to ensure that customers of all commercial banks in the country have access to add money to their Nagad wallets from bank accounts," he added.

However, the limit set by Bangladesh Bank will be applicable in case of adding money to Nagad wallet.

Process to add money

For transferring money to Nagad wallet from bank accounts, one must first add the beneficiary account. For this, the users have to enter the add money icon of Nagad app.

Then they have to go to the 'Bank to Nagad' option and add the name of the banks.

The internet banking portal (app or web) of banks will show "add beneficiary" or "manage beneficiary" option under the fund transfer option or "transfer to Nagad option".

Then the customers have to add the Nagad number where they want to transfer the funds from the bank accounts.

One has to add the beneficiary wallet number only once in order to bring money to a Nagad wallet.

Money can be easily brought in by adding the beneficiary account.

After selecting the beneficiary number in the app, the page will show "bank debit" or "from account" options.

Customers will choose the option at their convenience and enter the amount. Then the customer will get a one-time password (OTP).

After confirming the OTP, the customer will receive an SMS notification of a successful transfer.