Introduction

About Establish Operation Participant

1.Organinator
Distribution and 2.Orginating Bank
Bangladesh Live on
settlement of 3.EFT operator
Electronic Operation on
Electronic credit 4.Receiving Bank
Funds Transfer 28th February 
and debit 5.Receiver
Network 2011
Instruments 6.Corrospondent
Bank
EFT Transaction Flow
• EFT Credits • EFT Debits
Payment Types
1. Customer Initiated Entry:
It is a credit transaction where the consumer transfers funds into a
company's /individual account for payment of funds owed to that
company/individual.
2.  Prearranged Payment And Deposit Entry (PPD):
a) Direct Deposit: It is a PPD credit instruction that transfers fund into a
customer's account at the receiving bank.
b)  Preauthorized Bill Payment: It is a debit PPD debit instruction where a
customer authorizes a bank to debit his/her account for a regular
interval.
3)  Corporate  Credit or debit (CDD): CDD is either a credit or debit
instruction where funds are either distributed or consolidated between
corporate or government entities .
4)  Corporate Trade Exchange: This instruction supports the transfer of
funds within trading partners where payment information is sent with
the funds transfer.
5)  Other Instructions
a) Pre-notification (Pre-note): It is a non-financial entry that passed
through the EFT network.
b) Notification of Change(NOC)
SETTLEMENT AND
POSTING
To complete the payment instruction , Settlement is the actual transfer of the funds
between participating banks.

Processing Cycle CUT Offs

ITEM Submission Returns Settlement
Session-1 00:00-14:00hrs As provided in 14:01hrs
Session-2 14:00-24:00hrs BEFTN Rules  10:00hrs Next
Day
ORIGINATION OF ENTRIES

1) Prerequisites of Origination:
a) Originator Authorization and Agreement: OB has to transmit, credit or
debit the amount of entries to the receiver account.
b) Receiver Authorization and Agreement: Receiver has agreed to be
bound by rules as in effect from time to time . Authorization must in
writing form.
c) Exception to Authorization Requirement: If both the Originator and
Receiver are natural persons, no authorization by the receiver is
required for credit entries, no warranty with respect to that
authorization is made by the OB
2) Warranties and Liabilities of Originating Rules
a) Warranties
 Authorization by Originator and Receiver
 Timeliness of Entries
 Compliance with other Requirements
 Revocation of Authorization
 Termination of Authorization by Operation of Law
b) Limitation: 
The warranties contained within subsection 2.2.1 and the requirements of subsection 2.1.2 do not
apply to the goods or services to which the entry relates. 
 Limitation on Initiation Of Reversing Files
 Indemnification
OBLIGATIONS OF ORIGINATORS

• Consumer  Accounts 
1) Notice of change in Amount: The Originator must send the receiver written
notification before 5 business days of the changed amount to be debited.
2) Notice of Change in Schequled Deviting Date: The Originator shall send to
the receiver written notification of new date of the entry before 5 business
days .

• Record of Authorization
An originator must retain the orginal or an image of each authorization of a
Receiver for two years from the termination or revocation of the authorization
Receipt of Entries