Money transfer to Bangladesh: Send money to Bangladesh using debit visa cards

Being the 9th country in receiving the most number of remittances from foreign transferring money is an all season thing in Bangladesh. The most amount of money is transferred from India which is around 4.4 billion dollars and from Saudi Arabia the number is around 3.7 billion according to World Bank in 2015. After knowing these facts, are you still worried about sending money to Bangladesh? Concerned about the pricing and tax deductions and security issues? Now get free from all those worries and insecurities as we are going to ensure you some of the best ways to send or transfer money to your brothers, sisters or your child studying there.

All about money transfer

You can transfer the money by sending funds to any bank directly or through any independent providers. You just need to transfer the set amount via your credit, debit or visa cards and it will be deposited into your recipients’ mobile wallet or account in Bangladesh. But the problem with banks is they charge for service tax and also take more time in the transfer process that’s why nowadays people send via independent money transfer companies who provide the same service with better exchange rates and transfer time.

Be aware and be safe

Some things to keep in mind while transferring money internationally.

  • Transfer fees: Most of the companies charge a huge amount for sending money internationally but if you send in a huge amount then they waive some amount.
  • Exchange Rates: Always compare more than one companies’ rate before sending via any medium as exchange rates may vary.
  • Turnaround Time: It takes some time to transfer the amount when you are making international transactions. Few companies take 3 to 4 days some takes few hours and some even minutes.
  • Transfer Amount: Each companyhas a minimum set of theamount to be paid below which they don’t transfer the money.
  • Customer Support: Make sure the service company you are keeping your trust on has a good support team backing the issues. Ask for the customer support number and email id if needed.

Options available for sending money to Bangladesh

Send money to Bangladesh from any country with ease. There are many online service providers from WorldRemit, TransferWise, INSTAREM, Western Union and many more who are providing this kind of services for years and are trusted by many.According to the World Bank in the year 2016, the average cost for the international transaction to Bangladesh was around 3.3% of the total amount transferred. In the worst case scenarios if the recipient doesn’t have any bank account then you can also send money via MoneyGram via a phone call and the agent will collect the money in cash and transfer at the doorstep, making the whole process much simpler.

 

Why are Visa Debit cards the best option?

Still, above all of the medium, the most secure way is using visa debit cards.The process is faster as it an international standard of money transaction. If you are concerned about the immediacy and want things to get completed all within 15 minutes then there is no better option than using visa debit cards.

There are many ways available in the market but it’s up to you what you will choose and what you won’t. Do read all the terms and conditions carefully before choosing the service providers as no one wants to get cheated with a huge amount of money. And if you have trust issues in these private companies or independent brokers then you should choose Visa and Debit cards for the remittances.