Bangladesh Electronic Fund Transfer Network (BEFTN) is a paperless electronic fund transfer network between banks within Bangladesh.[1] Its main goal is to transfer funds between bank accounts.[2] The network can settle debit and credits. Salary, bill, divident, interest could be paid through the system.

From November 2023, fund transfer of Bangladesh Automated Clearing House (BACH) was to be accomplished through Nikash-BEFTN.[3][4][5]

References

  1. ^ Payment and Settlement Systems — Bangladesh Bank
  2. ^ Bangladesh Electronic Fund Transfer Network — Bangladesh Bank
  3. ^ "Electronic fund transfers thru Nikash-BEFTN software from November 12". The Daily Star. 2023-11-09. Retrieved 2024-04-16.
  4. ^ নিকাশ-বিইএফটিএন ইলেকট্রনিক ফান্ড ট্রান্সফার শুরু. Jagonews24 (in Bengali). 2023-11-13. Retrieved 2024-04-16.
  5. ^ "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.