Mobile banking has become very popular nowadays. It is very easy to do transactions through mobile banking. At present, almost all banks have started mobile banking services. However, the most popular achievement of the present is bKash.
Anyone can now open a bKash account with their smartphone at home. This article will discuss how to open BKash Merchant Account.
Through bKash merchant, you not only do personal transactions, but you can also do business transactions. At the peak of popularity, many small and medium businesses use BKash Merchant Accounts.
Let’s dig into How to open BKash Merchant Account?
What is BKash Merchant Account?
BKash Merchant Account is used for business transactions. BKash Merchant Account is mainly used to accept payments from customers. That is, a seller receives payments from buyers through BKash Merchant Account.
BKash Merchant Account is a part of bKash’s digital payment system. A merchant account allows users to make payments at the shop of their choice through a BKash account.
Therefore, all shopkeepers should open merchant accounts and allow customers to pay through their BKash account. Along with the customer, a merchant can enjoy various benefits of the merchant account.
Why do you open BKash Merchant Account?
Suppose you have a shop or some other business establishment. Your customers will pay for your products through BKash. Because many customers think using cash is an extra hassle.
In that case, the customer may have difficulty paying if you cannot accept payment in bKash. Or they will switch to another merchant to buy products.
In this case, if you have a (merchant account) BKash Merchant Account, you can easily accept any money in bKash.
Many people accept various payments by sending money to their personal bKash account. In this case, remember, there are different limits on personal bKash accounts. If you make ‘sent money’ in your personal account, your ‘sent money’ charge will be deducted.
Another thing is you cannot do so many transactions through your BKash personal account. So to make unlimited business transactions, you must open a BKash Merchant Account.
What are the benefits of a BKash Merchant Account?
Payments can be accepted by a simple bKash account, so why open a BKash Merchant Account? You may have this question in your mind. Let’s know about some benefits of the BKash Merchant Account.
- Even if there is a personal account with the same ID card, the customer can open a BKash Merchant Account (if he does not already have an agent or retail account with that ID).
- There is no limit on transactions in BKash Merchant Accounts. Any amount starting from one taka can be done through the BKash Merchant Account.
- You can offer a variety of offers to your business customers. You can offer various offers to customers to promote your service or product.
- There is an opportunity to withdraw money directly from the BKash Merchant Account to the bank account.
- You can take payment through bKash on your website or app. (How to open BKash Merchant Account?)
The documents for Opening BKash Merchant Account?
You need the following documents to open BKash Merchant Account, such as:
How to open BKash Merchant Account?
- Address of the Business organization
- Trade license
- Bank account
- Photocopy of National Identity Card
- Train certificate
- Mobile number
- Email address
Open BKash Merchant Account
You already know the required documents for opening BKash Merchant Account; now you will know how to open BKash Merchant Account.
- Firstly, to apply for BKash Merchant Account, go to the BKash website.
- On the website, you will see the options like online business, merchant, educational institution, corporate and enterprise, and microfinance. From there, you will select the option ‘merchant’.
- First, enter your store/business name in the “Business Name” field.
- Enter your store/business address in the “Office Address” field
- Enter what you do business with in the “Type of business” option
- Provide details of your business status in the “Current location of the business organization” field
- Enter the estimated monthly transaction amount in the “Amount of payment received per month (approximate)” field.
- Enter the name of the person who will open a merchant account in the “Name of the person who wants to become a merchant” option.
- Provide any card number mentioned in the “Photo ID Number (National Identity Card or SmartID/ Passport/ Driving License)” option.
- Enter your business’s license number in the “Trade License Number with Term” option.
- Provide the email address used for business in the “Email” field
- Then complete the captcha by solving a simple number
- Tap the “Submit” button once all the information is filled in.
In the above way, you can easily apply to open a BKash Merchant Account online. Apart from this, you can apply to open a BKash Merchant Account by providing the information mentioned in the upazila or district customer service point of bKash.
In that case, do not forget to take a copy of the trade license, national identity card / driving license/passport photocopy (take the original copy), and a few copies of your photos. (How to open BKash Merchant Account?)
How to send money from BKash Merchant Account?
The process of sending money to the bKash Personal Account and BKash Merchant Account are the same. However, if you buy anything and send money to BKash Merchant Account, you will not be charged any additional charge.
But if you send money to your personal account, you charge extra. If you send money in a personal account, the send money charge will be deducted. So to make a payment, pay in the BKash Merchant Account. (How to open BKash Merchant Account?)
BKash Merchant Account Cash out Charge
Cashing out of a personal bKash account charges relatively high. But when you use BKash Merchant Account, you can enjoy more benefits than a personal account. That is, the cash-out charge of BKash Merchant Account is much less than bKash Personal Account. For example, the cash-out charge of the bKash Personal Account is 1.85%, but the cash-out charge in BKash Merchant Account is 1.70%.
So you can understand that there are additional benefits to the BKash Merchant Account. The biggest advantage is that you can transact any money from your customer. And you can also offer different products to the customer through this BKash Merchant Account.
Hopefully, you have understood clearly how to open a Bkash merchant account. So now, you can easily open a BKash Merchant Account for your business.