AKM Zamir Uddin

Internet banking transactions have surged in recent months as people increasingly embraced the digital mode while opting not to visit branches.

The transactions amounted to Tk 8,093 crore in December, up 33.47 per cent year-on-year, showed Bangladesh Bank data.

Clients started heavily relying on internet banking transactions when the government declared a lockdown in March last year to limit the spread of the coronavirus.

Banks now promote different types of digital financial services, including internet banking, which attracted clients, said Dhaka Bank Managing Director Emranul Huq.

A good number of banks have already introduced app-based financial services, allowing customers to settle financial transactions hassle-free, he said.

“This has also given a push to internet banking,” Huq said, adding that this, in turn, would reduce the use of cash.

Some of the facilities include the transfer of funds from one account to another, payment of tuition fees and utility bills and adjustment of loans taken against credit cards.

There were 23.44 lakh such transactions in December, which was 41.88 per cent higher year-on-year.

Md Shafquat Hossain, head of SME and retail banking of Mutual Trust Bank, said internet banking gained momentum soon after the government imposed the lockdown as people opted to mostly stay at home to keep the virus at bay.

Although the government started easing restrictions from the final week of May, people continued to show interest in settling transactions through internet banking, he said.