Our country on the sub-continent is also a region where there might be a need to transfer money online. There are many scenarios which could influence which mechanism will be used to do the transaction.
In certain situations, there could be a need to send money to an individual located in Bangladesh, or it could even be to a large company. This irrelevant, as long as you are able to choose the method which meets your current situation the best.
With the considerable rollout of the online workplace, there are many occasions that there could be remote employees located in Bangladesh. Their employers could be associated in the US or other countries outside the borders of Bangladesh.
Comparison: Best Transfer Money to Bangladesh
First Transfer Free!
- Transferwise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
Five Transfers Free!
- A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.
Send money very fast!
- Save up to 90% compared to banks. No hidden costs. Large selection of countries.
First Transfer Free!
- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
You would need to send money to a loved one visiting this country and has perhaps run short of finances on their trip. There could even be a person in this sub-continent country that celebrates a particular day, and there is the desire to transfer some funds to them online as a present.
These types of transfers are often looked upon as once off online transfers. It makes sense to look toward services which concentrate on doing single online transactions to Bangladesh.
It with these types of situations that the information in this article will be helpful to you in finding a cheap provider for a foreign bank transfer to Bangladesh.
How can I send money to Bangladesh?
When there is a need to do an online money transfer to Bangladesh, you need to be aware of all of the available options. Only once you have looked at each of them, the choice of provider can be made from the viewpoint of knowledge. There are a few numbers of options that may be considered.
- The most obvious choice often seems to be interbank transfers. This is always the safest method.
- There are quite a few money transfer service providers who are authorized to operate in this country legally.
- There are even the two global cash pickup companies at your discretion. Both Western Union, as well as MoneyGram, has representation in this country.
- Checks which have been verified internationally is another route that could be considered.
Bank (it’s expensive)
Even though banks are a safe way of transferring money online to a person or company in Bangladesh, just remember that this mode of business is often quite expensive. Besides this, you will probably get an inferior exchange rate compared to other companies which serve as a money transfer provider.
Money transfer provider
There are a few companies that are able to serve as a money transfer provider in Bangladesh. It was decided to look at four providers in our information guide.
These providers are listed below:
How much does it cost to transfer money to Bangladesh?
It is quite interesting that none of the four providers offers free online transaction for transferring money.
The list below is arranged from the cheapest to the most expensive in the case of this country situated on the sub-continent.
- WorldRemit – $3.99
- Ria – $3.99
- TransferWise – $7
- InstaRem – $10
Duration of a money transfer to Bangladesh
Our providers spotlighted here offer different durations for transferring money online. Only WorldRemit seems to come to the party when you need to get cash to Bangladesh in an emergency. The company is able to get the money freed within an hour after being sent.
Conclusion on the money transfer to Bangladesh
In closing, it is always essential to look at the solution which best fits your specific scenario. There are many different situations, and each one has to be looked upon by following specific guidelines.
Some of the points that must be considered are discussed in brief below.
- The most obvious one is to look at which of the providers are able to give you the most significant amount of local currency for pick up in Bangladesh. Look at exchange rates and then shortlist which way you want to go.
- Look at the different charges each of the providers’ cost for transferring money online.
- Careful consideration must be given to the different options that are available for depositing the money to be transferred. Consider this while looking at the pickup options they are able to provide.
- Time is always important. Depending on your situation, this could be one of the most crucial conditions associated with the transaction. Companies offer different rates for transferring money abroad to a country such as Bangladesh.
- The amount of money you are able to transfer per time varies between service providers. Some providers have high minimum limits, while there are others which might have no minimum limit at all.
With said you are now ready to choose the correct option for you.