This article explores the Top 5 Mobile Banking Services in Bangladesh, highlighting their features, benefits, and contributions to the economy

Mobile Banking in Bangladesh: Top 5 Mobile Banking Services in Bangladesh

In a world where everyone’s got a phone glued to their hand, it’s not surprising that we use them for everything, even banking! Mobile banking, also called mobile financial services (MFS), has become a big hit in Bangladesh. This article is all about the coolest 5 mobile banking services there. We’ll check out what they do, why people love them, and how they’re changing the money game in Bangladesh. Ready to explore these awesome digital banks? Let’s go!

Table of Contents: Mobile Banking in Bangladesh

Here is the list of the Top 5 Mobile Banking Services in Bangladesh:

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bKash, offered by BRAC Bank, stands at the forefront of mobile banking services in Bangladesh. Since its launch in July 2011, bKash has become synonymous with convenient and secure financial transactions. The service enables users to perform a wide range of activities, including fund transfers, bill payments, mobile top-ups, and online purchases. By dialing the USSD code *247#, customers gain access to a user-friendly platform that empowers them to manage their finances with ease.


Nagad, introduced by the Bangladesh Post Office on November 11, 2018, has quickly gained prominence as a reliable mobile banking service. It offers essential features such as Cash-In, Cash-Out, Send Money and online mobile recharge. The service has attracted users with its user-friendly mobile app and secure transaction processes. By dialing *167#, customers can access Nagad’s services, providing them with a convenient and efficient means of managing their financial transactions.


Rocket, developed by Dutch Bangla Bank, has been a pioneering force in mobile banking since its launch in May 2011. Initially known as Dutch Bangla Bank Mobile Banking, it was rebranded as Rocket to reflect its innovative nature. The service offers a comprehensive range of features, including fund transfers, bill payments, airtime recharge, and utility payments. By dialing *322#, users can access Rocket’s services, benefiting from its seamless user experience and secure transaction environment.


MCash, introduced in 2019 by Islami Bank Bangladesh Limited, has emerged as a prominent mobile banking service. It offers customers the convenience of depositing, withdrawing, transferring funds, and purchasing goods and services through their mobile devices. MCash provides a secure and user-friendly platform, enabling customers to perform financial transactions seamlessly. By dialing *259#, users can access the various features and services offered by MCash, enhancing their financial flexibility and convenience.


Upay, provided by UCBL (United Commercial Bank Limited), aims to promote financial inclusion by extending banking services to the unbanked population in Bangladesh. With authorization from Bangladesh Bank, Upay offers a comprehensive range of services, including fund transfers, bill payments, and mobile top-ups. By dialing *268#, users can access Upay’s features, ensuring convenient and secure financial transactions for all. Upay’s commitment to financial inclusion has made it a preferred choice among users seeking accessible and user-friendly mobile banking services.


Mobile banking services have revolutionized the way Bangladeshis access and manage their finances. The top five services discussed in this article, including bKash, Nagad, Rocket, MCash, and Upay, have played a pivotal role in this transformation. These services offer convenience, security, and accessibility, empowering users to perform a range of financial activities with ease. As technology continues to advance, digital banking services are expected to further evolve, ensuring that individuals across Bangladesh have access to efficient and secure financial transactions.

Frequently Asked Questions (FAQ) – Mobile Banking in Bangladesh

What is mobile banking?

Mobile banking refers to the use of mobile devices, such as smartphones or feature phones, to perform various financial transactions and access banking services. It allows users to manage their accounts, transfer funds, pay bills, recharge mobile credit, and perform other financial activities using their mobile devices.

Are mobile banking services secure?

Yes, digital banking services in Bangladesh prioritize the security of user transactions. Mobile banking services ensure security through encryption, secure login credentials, and two-factor authentication for user information. However, users need to practice good security habits, such as protecting their login credentials and not sharing sensitive information.

Which are the Top 5 Mobile Banking Services in Bangladesh?

The top mobile banking services in Bangladesh include:

bKash: Offered by BRAC Bank, bKash is one of the most popular and widely used banking services in the country. It provides a range of financial services, including fund transfers, bill payments, and mobile top-ups.

Nagad: Introduced by the Bangladesh Post Office, Nagad has gained significant popularity for its reliability and user-friendly features. It offers services like Cash-In, Cash-Out, Send Money, and online mobile recharge.

Rocket: Rocket, developed by Dutch Bangla Bank, is a well-established mobile banking service that provides features such as fund transfers, bill payments, and utility payments.

MCash: Launched by Islami Bank Bangladesh Limited, MCash enables users to deposit, withdraw, transfer funds, and make purchases using their mobile devices.

Upay: Offered by UCBL (United Commercial Bank Limited), Upay focuses on providing financial services to the unbanked population of Bangladesh, including fund transfers and bill payments.

How can I access mobile banking services?

To access mobile banking services, you need to have a phone with a SIM card and a registered account with the respective banking service provider. Dial the designated USSD code (provided by the service provider) on your mobile device to access the services. Some providers also offer dedicated mobile apps that can be downloaded and installed for enhanced functionality and convenience.

What are the benefits of using mobile banking services?

Using mobile banking services offers several benefits, including:

Convenience: Mobile banking allows users to perform financial transactions anytime, anywhere, using their mobile devices.

Accessibility: Mobile banking services provide access to banking services even in remote areas where physical bank branches might be scarce.

Speed: Transactions can be completed quickly, allowing for instant fund transfers, bill payments, and other financial activities.

Cost-effectiveness: Mobile banking services often have lower transaction fees compared to traditional banking methods.

Security: Mobile banking services implement advanced security measures to protect user information and transactions.

Can I use mobile banking services for international transactions?

Mobile banking services in Bangladesh primarily focus on domestic financial transactions within the country. International transactions, such as overseas fund transfers, might have limitations or require additional services provided by specific banks. It is advisable to check with your mobile banking service provider or preferred bank for their international transaction capabilities.

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