What Is Baksh Merchant Account? How To Open A Merchant Account Development

 Sending or receiving mobile-based money, shop transactions, mobile balances, office work, various business activities, people have taken Bkash with many more benefits and confidence. Businesses have to face many problems for business transactions. 

But if a bKash merchant account is used, then it is possible to make business transactions much easier and safer. This article provides clear information about bKash's merchant account.

What is a bKash Merchant Account?

The bKash Merchant Account is an account where you can receive payments from customers. Bkash Merchant Account is more commonly used for shop or business transactions. Payment is made to the merchant account holders through option number 3 of bKash.

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Bkash's Merchant Account is the most convenient and secure way to transact commercially. Merchant accounts are more commonly used for commercial purposes as the benefits of merchant accounts are greater than personal accounts.

How to open bKash Merchant Account

First, you need to visit this link of the bKash website https://www.bkash.com/bn/i-want-register/send-registration-request. There will be 2 options - Agent and Merchant, from where you have to select the Merchant option. Then a form like the below will come up. That form has to be filled incorrectly.

If the form is completed and submitted correctly, the development authority will review the request to open your merchant account. You will then be contacted on mobile by bKash and you will be requested to visit your nearest bKash office. 

The documents that you will provide in the form at the time of application should be taken with you. After discussing with you, bKash will launch your merchant account.

All that is required to open a bKash merchant account

A mobile number of any operator Identity card with your picture and its photocopy 

(Original National Identity Card / Driving License / Passport)

Two copies of passport size photo

Business Trade License (with expiration)

A bank account 

Tin certificate 

Email address

Permit of the organization for opening a merchant account

The bKash Merchant Account is usually used to collect payments made by customers in-store business. BKash is the best among other mobile banks because bKash users are currently the most. Also, the development is easy to use and safe. Transactions can also be done easily through their sophisticated app.

 There are several benefits to using a bKash merchant account. Although 1.75% charge is deducted in general personal bKash account, it is comparatively less in bKash merchant account.

 A charge of 1.8% is usually deducted, but this fee can be further reduced depending on the amount of transactions you make each month.

However, e-Cab (E-commerce Association of Bangladesh) members get a 1.5% fee for development. No additional payment is deducted from the customer when making payment in the bKash Merchant Account. 

Although there are certain limits on personal accounts and cashouts of bKash, there are no limits on payments to merchant accounts. Customers will be able to make payments to the Merchant Account at any time of the day and any amount.

There are also some drawbacks to the bKash merchant account. First, payments can only be made from a personal development account. But no payment can be made from any agent account. So those who do not have a development account, they can not pay. Another problem is that it is not possible to cash out from Merchant Account to Agent Point or ATM Booth. 

A bank account must be added when creating a merchant account. The transaction that takes place on each working day will be automatically credited to the bank account on the next working day. You will not be able to withdraw money from the Merchant Development account immediately if you want to.

Many people who do e-commerce business try to do business transactions with personal accounts. But on 01/02/2018 one of Bangladesh Bank

Through the notification, a maximum of 5 transactions per day has been reduced to a maximum 2 in a personal account. As a result, it is not possible to withdraw money from a personal account more than twice a day. So you have to use a merchant account for business work.

Another big advantage of bKash is that they continue to offer discounts and cashback at different times. Certain merchants offer cashback or discount offers with development, which makes more customers interested in buying products from you. Customers are also more interested in making payments to merchant accounts.

At present, if you want to expand your business, you must support the benefits of taking money through development. Bangladesh wants to increase its dominance over cashless transactions in the next two years and if you want to move forward in that direction, your business must have a bKash merchant account.