Last updated on June 28th, 2024 at 04:07 pm
We know that you work hard, you have loved ones back home, and that you may be wondering how to send money to Bangladesh safely.
As of 2020, the average transfer fee for an international remittance was 7%, which amounts to tens of billions of dollars on an annual basis.
So, is there a better way to send money with low transfer fees?
Consider online money transfer companies like Remitly—reliable, easy to use, and low fees. In this article, we will cover common FAQs and how to get started.
Why Should I Use Remitly To Send Money to Bangladesh?
Remitly makes it easier for you to send more of it to your family and friends in Bangladesh.
Remitly offers competitive currency exchange rates, low transfer fees, and secure and fast delivery.
The pricing structure for sending money to Bangladesh is simple, with no hidden fees.
Send Money to Bangladesh in 5 Easy Steps
Sending money online to your loved ones in Bangladesh with Remitly is simple. In fact, just a few taps will give you easy access to our transfer service.
First, if you haven’t already, download the app and create an account.
- Set Bangladesh as your destination country.
- Enter the transfer amount you wish to send and choose your payment method. You can use a debit card, credit card, or bank account.
- Select your preferred delivery method—bank deposit, cash pickup, or mobile money (called mobile wallet).
- Enter the recipient’s details, such as their bank details or phone number.
- Add your payment details, such as your credit card or debit card info.
Remitly may ask for additional documentation depending on the amount you send or if we’re unable to verify your identity.
Easily Send Extra to Your Loved Ones
Now is a great time to send money to Bangladesh. The Bangladesh government is currently offering an extra 2.5% in BDT upon disbursement on all remittances sent by expatriate Bangladeshis.
With Remitly, you can choose between 50+ banks, 9,000+ cash pickup locations, and bKash.
How does the Bangladesh cash incentive offer work?
If you’re a Bangladeshi citizen who lives abroad, the government will add 2.5% to your Remitly transfer in BDT for your recipients back home. This 2.5% incentive is paid as a separate transfer and added to bank deposits, cash pickup, and bKash mobile wallets.
What are the requirements?
- You must be a Bangladesh national who is employed abroad, but not paid by a government agency or statutory body.
- Your recipient must be a citizen and resident of Bangladesh.
- If you send a transfer of less than 150,000 BDT there are no additional ID requirements.
- If you send more than 150,000 BDT, your recipient will need to submit a copy of your passport and employment confirmation to their bank within 60 days to get the 2.5% incentive.
For more information, please visit our website or Help Center.
With Remitly, Which Banks and Providers Can I Send To?
As of writing, these are some of the places in Bangladesh where you can send money with Remitly. For the full list, check the app or website.
- Islami Bank Bangladesh Limited
- Prime Bank Limited
- Mutual Trust Bank Ltd.
- Janata Bank Limited
- Agrani Bank Limited
- Standard Chartered
- Dutch-Bangla Bank
How Much Money Can I Send to Bangladesh With Remitly?
To ensure top-quality customer service while adhering to strict security standards and international regulations, Remitly has implemented sending limits. These limits apply when you first open your account.
If you need to transfer amounts beyond this, Remitly will ask you for more information. For more about raising your transfer limits, check out the details here.
Additional sending limits may apply depending on your choice of payout partner or receiving location.
How Much Does It Cost To Send Money to Bangladesh With Remitly?
For current pricing on money transfers to Bangladesh, check the app or website.
At the time of this writing, the transfer fees for sending money from the U.S. to Bangladesh are:
| Transfer Fees for Sending Money to Bangladesh | |
|---|---|
| Bank deposits | $2.99 |
| Cash pickup | $2.99 |
Wonder how much 1 USD (US dollar) or 1 EUR (euro) can be exchanged for Bangladeshi taka (BDT)? Check out Remitly’s website for the most current rates.
Is It Safe To Send Money to Bangladesh With Remitly?
Millions of people around the globe trust Remitly because of the secure and smooth experience we provide. You can learn more about how Remitly goes above and beyond to keep your information and money safe.
Remitly uses multiple levels of security so that you can send money home with peace of mind. Your personal data is protected 24 hours a day through fraud monitoring and encryption.
For more information about our security, please visit here.
You and your recipients can track the transfers in real-time, so you won’t have to worry about where the money is. If you have questions throughout the process, we offer help 24/7.
You can have peace of mind knowing that the money you’ve worked hard to earn will safely reach its destination.
More About Bangladesh
With a population of about 172 million people, Bangladesh is the eighth-most populated country. The country has a long history of producing and selling garments.
Once a major muslin producer, it’s now a major garment exporter.
Bangladesh’s southern coast lies along the Bay of Bengal. The rest of the border is mostly shared with India, although a small section in the south neighbors Myanmar.
Bangladesh is divided into eight areas:
- Barisal
- Chittagong
- Dhaka
- Khulna
- Mymensingh
- Rajshahi
- Rangpur
- Sylhet
Dhaka, located in central Bangladesh, has the largest population (34.7 million) and the highest population density (2,073 per km).
More people in Bangladesh work in agriculture than in any other employment sector. Agriculture accounts for about 47% of the country’s employment. Some of the primary crops include:
- Rice
- Jute
- Maize
- Tea
- Potatoes
The warm, wet climate makes it possible for farms to operate practically all year. Rice harvests often take place three times per year, which helps make it the country’s most significant cash crop.
Bangladesh’s constitution lists Bengali as the country’s national language. About 98% of the population speaks Bengali, although many speak a variety of regional dialects.
A minority of people living in Bangladesh speak Burmese. Nearly all of these people live in the hills that border Myanmar.
FAQs about how to transfer money to Bangladesh
Have more questions about sending funds to your friends and family or using Remitly? Read for answers.
How do I know today’s Bangladeshi taka exchange rate?
Exchange rates can vary from day to day and even hour to hour. The Remitly app will tell you the current exchange rate that you’ll receive when you convert a foreign currency like the US dollar or euro to the Bangladeshi taka.
If you want to compare the currency exchange rate with other providers, you can conduct an internet search using the taka currency code, BDT, and the currency code for the foreign currency, like the US dollar.
For example, you could search “BDT to USD” to research the exchange rate for takas to the US dollar.
What major banks can I send money to?
Some of the financial institutions that we partner with include:
- Prime Bank Limited
- Mutual Trust Bank Ltd.
- Janata Bank Limited
- Standard Chartered
How long does it take for someone to receive money at a Bangladesh bank?
How long it will take for funds to appear in your friends’ and families’ bank accounts varies. In most cases, a bank deposit or cash pickup will be available 3 to 5 days after you initiate the transaction.
Can I send funds for free?
In most cases, you will pay a fee to send Bangladeshi taka to a loved one’s bank account or to arrange for cash pickup. However, we do waive the fees on your first transfer as a new customer, and we never charge hidden fees, so you’ll always know exactly what you’re paying.
How do I start sending money with Remitly?
To start sending money, first download the app by visiting this link and registering for a Remitly account.
Next, you’ll tell us where you want to send it and where you’re located so we can determine your local currency, such as US dollars or euros.
Finally, select a username and password and click join.