Top 10 Remittance Services to Bangladesh - Nov. 2018

Compare top remittance services & send money to Bangladesh in minutes!

I want to Send Money to:
1
Transfer Fees: Med
93
Users Score
2
Transfer Fees: Low
91
Users Score
3
Transfer Fees: Low
88
Users Score
4
Transfer Fees: Low
86
Users Score
5
Transfer Fees: Med
83
Users Score
6
Transfer Fees: High
80
Users Score
7
Transfer Fees: High
78
Users Score
8
Transfer Fees: Med
74
Users Score
9
Transfer Fees: High
71
Users Score
10
Transfer Fees: High
68
Users Score
Service
Regulation
Delivery Speed
Delivery Methods
Transfer Fee
Score
Transfer Money Now
1
FMA
Instant
  • Direct to Bank
  • Cash pick-up
Med
* Transfer tracking available
Main Services: International money transfers, cash pickup, remittance services, mobile transfers
Transfer Objective: One time/Recurrent
Transfer Method: Bank transfer, Phone/App, debit or credit card, cash pick-up
Min Transfer Amount: £0.01
Available in:
Extra Features:
- Locked-in exchange rates
- 145+ years of experience in moving money
- Tracking options for transfers online
- 0-3 days of delivery (depends on destination)

Time to open Account: Few minutes
2
FCA
2-5 hours
  • Direct to Bank
  • Cash pick-up
  • Mobile Transfer
Low
Main Services: Send money online, bank transfers, telephone transfers. Send money to family and friends, emigrate, buy a property overseas or make regular maintenance payments.
Transfer Objective: one off/regular transfers
Transfer Method: Electronic bank transfer, UK debit card, UK direct debit
Min Transfer Amount: £100
Available in:
Extra Features:
- Free transfer fees
- Free to open an account
- Transfers by phone, online or App
- Safeguarded customer funds
- Longstanding FX provider since 1979
Time to open Account: Few minutes
3
FCA
1-2 hours
  • Cash pick-up
  • Direct to Bank
  • SWIFT
  • Mobile Transfer
Low
Main Services: International money transfers, send money to family or friends, send money online, mobile app transfers
Transfer Objective: One time/Recurrent
Transfer Method: Bank transfer, Phone/App, debit or credit card, cash pick-up and more.
Min Transfer Amount: $15
Available in:
Extra Features:
- Ria exist in more than 140 countries and over 300K locations.
- Easy & safe to send and receive money.
- Useful for cash pickup almost everywhere.
Time to open Account: Few hours
4
FCA, ASIC
Up to 24h
  • Direct to Bank
  • Cash pick-up
  • Mobile top-up
Low
5
FCA, HMRC
Up to 24h
  • Direct to Bank
  • Cash pick-up
Med
6
FCA
24-48h
  • Cash pick-up
  • Direct to Bank
High
80
7
FCA
Up to 24h
  • Mobile Transfer
  • Mobile Wallet
  • Mobile top-up
High
8
FCA
More than 48h
  • Direct to Bank
Med
9
FCA
24-48h
  • Direct to Bank
  • Mobile top-up
  • SWIFT
High
10
FCA
More than 48h
  • Direct to Bank
High
68

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Frequently Asked Questions

One of the first things that you need to do when considering an international money transfer is to make a research of the providers, including exchange rates, speed of transfer, and credibility of the companies which you are considering (For example, both Western Union and MoneyGram as the two biggest players, for instance, offer $0 transfer fee from your bank to the National Bank Limited, Agrani Bank, IFIC Bank, Uttara Bank, Premier Bank Limited, and other major banks).

Follow the link to get the main checklist on how to compare. 

  • Bank transfers. Most major banks can safely wire your funds to Bangladesh. Banks rely on existing links between banks and banking systems worldwide. A downside is the frustratingly high fees and weaker exchange rates you’ll typically receive. According to the World Bank the average cost of sending money to Bangladesh with a bank is 6.6% of the transaction in percentage. It is really expensive especially for large amounts of money sent.
  • Online money transfer services. Companies like Xoom, TransferWise, WorldRemit make international money transfers to Bangladesh easy. They offer more affordable transfers than banks do, allowing you to quickly and easily manage your transactions from home. With competitive exchange rates and lower fees, you can send funds from your bank account, a credit or a debit card. According to the report of the World Bank in 2016 the average cost of sending money to Bangladesh in 2016 with a money transfer operator is on average 3.3% of the total amount of the transaction. Compared to the cost of banks it is twice cheaper than with a bank.
  • Providers with cash pickup. Trusted providers like Azimo, Western Union, MoneyGram, and Ria offer the option of cash pickups from thousands of agent locations across Bangladesh. (For example, Western Union has more than 12,000 agent locations in Bangladesh, while the MoneyGram has 7,000 local pick-up points) They offer the key advantage of giving your recipient fast access to the cash you send — sometimes within minutes.
  • In most cases you will need a valid I.D. presented at some point. In some cases the recipient personal data might be required as well. Please check the local regulations of the sending location & agent.
  • If sending to a bank account, you also need your recipient’s bank name and account number.
  • If sending to a mobile wallet, you also need your recipient’s mobile number with international dial code.

The limit per one transfer may vary depending on the conditions of the provider that you are using. For example, the maximum amount per transaction through Western Union is USD $5,000. Local country laws may further limit payment amounts. There may be even lower limits depending on the country where you are sending from and the payment method used to fund the transfer. Please check the local regulations of the sending location and the chosen agent.

Since 2012, the government of Bangladesh has eased many restriction regarding the forex transfers.There is no general restrictions, but remittances equivalent to US$ 2000 and above
should be reported to the Bangladesh Bank . However, declaration by the beneficiary is not required against remittances sent by Bangladesh nationals working abroad. The purpose of
remittances should be clearly stated. Please check the local regulations of the sending location and the chosen agent.

Depending on the type of remittance and the provider you are using, the transfer could be available to your recipient in Bangladesh anywhere between few minutes and few days. Please check the specific conditions fitting your case. The process of receiving a money transfer in Bangladesh will vary by provider and delivery method. In general, your recipient will provide ID or a confirmation number for the transaction to receive your funds. If your recipient owns an account at a Bangladeshi bank or money transfer company, they may not need to provide this information each time you send money.

Most of the financial institutions have online tools on their website that allow you to track the money transfer. If you have carried out the money transfer to Bangladesh via a bank, you can track your transaction by entering information like the tracking number and beneficiary’s account no. on the bank’s website.

When you send money via services like Xoom, Western Union, or Ria, you can always track your transfer by logging into your account on their website. The status tracking tools on the websites of these services keep the customers updated about the change in status. The recipient in Bangladesh can also check the status of the transfer online. The check transfers and bank draft transfers can also be tracked online. Some of these institutions even provide updates via email and SMS where the sender and the receiver can keep a check on the status. A few companies like TransferWise and Xoom have mobile apps that enable customers to check the status of transfer on their mobile devices.

For the most cases, the answer is no, but be sure to check your specific case with the chosen agent.

Personal money gifts to the first degree relatives, including spouses, are exempted from the taxes in Bangladesh.  In addition to the above exemptions, gifts made in any financial year up to value of Tk. 20,000 are exempt from gift tax.

When you’re sending money overseas, in many cases you’ll need to convert the funds you send into another currency, such as U.S. dollars into Bangladeshi Taka. But the provider or agent will convert the currency anyway, so you don’t have to deal with it yourself. Generally, Agent locations only accept cash in local currency. The receiver in Bangladesh will be paid out in Bangladeshi Taka (BDT) only.