Want to send money to loved ones in Bangladesh? We compare the different money transfer companies and services you can use to send money to Bangladesh, to help you find the right deal for you.
Send money to Bangladesh with SingX
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Pay no fees on your first two transfers, up to HK$15,000
Most transfers take 1 business day
Regulated by Hong Kong Customs and Excise Department
Sign up and send with a digital money transfer specialist in four steps:
Sign up for an account. Use our site to narrow down a money specialist offering the best rate and lowest fees, and create an online account with your name, contact information and proof of valid ID.
Provide your transfer details. Submit your recipient’s name, address and contact information, and choose your preferred method of delivery. Depending on the transfer method, you may also need their Bangladeshi bank account information.
Pick an amount. Indicate how much you want to transfer, and confirm the exchange rate and any fees before completing your transaction.
Save your receipt. Hold on to your confirmation details to monitor the progress of your transfer.
Crunching the numbers: Sending $10,000 to Bangladesh
Let’s say you want to send $10,000 home to your family in Bangladesh. You compare your local bank to money transfer specialists offering cash pickups and bank deposits to weigh which is cheapest, fastest and most convenient.
Bank transfer
Cash pickup
Money transfer service
Fee
65.00 HKD + additional correspondent bank fees
8.00 HKD
50.00 HKD
Exchange rate
1.00 HKD = 9.250723 BDT
1.00 HKD = 10.8298 BDT
1.00 HKD = 10.8613 BDT
Transfer speed
2–4 days
Minutes
1–2 days
Amount received
91,906.00 BDT
108,211.56 BDT
108,069.94 BDT
Verdict
Slowest and most expensive
Fastest and best value
Better than a bank transfer
The bank ends up being both too slow and too expensive, resulting in the least amount of money delivered among the three. The money transfer service provided a better value, but the cash transfer specialist ends up being fastest and best, delivering some 16,305.56 BDT more takas to your loved ones.
How to compare transfer companies
Weigh costs and fees against convenience to find the best money transfer specialist for your needs:
Exchange rates. Look for a provider that offers a strong rate with low markup on the mid-market rate. And note that your strongest rate may require a minimal transfer fee.
Transfer fees. Most companies charge fees for the convenience of a money transfer. But many reduce fees or waive them altogether for larger amounts.
Transfer method. Depending on the company, you may be able to initiate a transfer online, over the phone and by visiting a branch.
Turnaround time. Some companies take up to five business days to process transfers, while others make funds available to your recipient within minutes for an additional fee.
Pickup methods. Is the transaction managed completely online with funds delivered straight to your recipient’s bank account, or can they visit an agent location and pick up cash in person?
Minimum transfer amounts. Make sure the amount you’re sending is supported by the companies you compare.
Customer service options. Are phone and email customer support available? Can you reach out for help through online live chat? Also check when these services are available to make sure you can access help whenever you need it.
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Bangladesh’s exchange rate is flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Bangladeshi taka trades against the HK dollar in our historical rate chart.
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Updated: 07 Mar 2021 15:50:35 UTC
Options for sending money to Bangladesh from Hong Kong
Depending on the transfer specialist you choose, you may be able to send money for delivery by:
Bank transfer. Send money direct from your HK bank account to an account in Bangladesh.
Digital transfer specialist. Online providers like TransferWise and WorldRemit can send money quickly and easily.
Cash pickups. Providers like MoneyGram and Western Union allow you to send funds online, over the phone or from an agent location. Those funds can then be picked up as cash from an agent in Bangladesh.
Mobile Wallet. Western Union allows you to send the money to your recipient’s mobile wallet.
Checqus. It’s a slower method of sending money to Bangladesh, but it may be available with select providers.
When processed through a reputable provider, your funds are safely tracked until they are in the hands of your recipient.
Tips for picking up cash
Advise your recipients to practice caution when picking up cash:
Keep your money hidden until safely deposited in a bank account.
Avoid questionable parts of town when carrying cash.
Bring a friend along to provide an extra set of eyes, especially if you’re picking up a large number of takas.
Emergency cash transfers
Some situations in life require sending money quickly. For emergency transfers, expect to pay a fee extra to expedite delivery. Confirm the exchange rate and fees you’ll pay to avoid unpleasant surprises.
Al Arafah Islami Bank Limited Address: Azadi Bazar Branch Azadi Bazar Fatikchori Chittagong, Chittagong 4351 Hours: 10 a.m. – 4:30 p.m. Phone: +880-1629408998
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
Live exchange rates Hong Kong dollar to pound sterling. Historic exchange rates for 10 days ✔ 10 months ✔ 10 years ✔ Calculate your money transfer to GBP.
Read our guide on what you need to know before trading cryptocurrency on YoBit, including safety risks, features and how it compares to other exchanges.
To find the best rate for your next money transfer, check out our comparison of the fees, exchange rates and transfer speeds of Western Union and MoneyGram.
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