BRAC Bank has signed an agreement with upay recently, allowing BRAC Bank customers to transfer funds from Mobile App ‘ASTHA’ to their upay accounts, a press release said Tuesday. Under the agreement, BRAC Bank will provide the TCSA (Trust Cum Settlement Account) service which shall enable UPAY to operate its Trust Fund in line with MFS & TCSA guideline. Selim R. F. Hussain, Managing Director & CEO, BRAC Bank; Rezaul Hossain, Managing Director & CEO, upay, signed the agreement on behalf of their respective organizations at BRAC Bank Head Office in Dhaka on August 28, 2022. Users can transfer up to Tk 50,000 to upay account in a day. Soon, upay customers will be able to transfer fund to BRAC Bank account from their upay account as well. This agreement will also enable migrant Bangladeshis to send money home directly to upay account, with the help of BRAC Bank’s 60+ remittance partners, including leading exchange houses and banks worldwide. UPAY shall avail various collection and payment solution that includes BRAC Bank’s Corporate Internet Banking Platform, CORPnet. From BRAC Bank, Tareq Refat Ullah Khan, DMD and head of corporate banking; Md. Mahiul Islam, head of retail banking; Jabedul Alam, head of transaction banking; Shahrear Zamil, head of remittance and Probashi banking; Rashedul Hasan Stalin, head of payments and partnership, from upay, Syed Md Enamul Kabir, chief financial officer; Ziaur Rahman, chief strategy officer; Shams Azad, deputy director, strategy & product; Syed Mohidul Islam, assistant manager, strategy, were also present.
