Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
How to send money to Bangladesh
Find cheap and fast transfers to Bangladesh for pickup or deposit.
Remittances contribute significantly to Bangladesh’s economy, according to the World Bank, fueled by the more than 10 million migrant workers who send their hard-earned money back home to friends and family. To get as many takas as possible into the hands of your loved ones, look beyond traditional banks to digital money specialists offering the strongest rates and lowest fees on your next transfer.
How much does it cost to send money to Bangladesh? Compare your options
Compare transfer fees, exchange rates and turnaround times to narrow down the best money specialist for your next transfer.
How to send money to Bangladesh online
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 $1,000 to Bangladesh
Let’s say you want to send $1,000 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||$30 + bank fees||$5||$16|
|Exchange rate||1 USD = 83.194 BDT||1 USD = 84.474 BDT||1 USD = 84.898 BDT|
|Transfer speed||2–4 days||Minutes||1–2 days|
|Amount received||BDT 80,698||BDT 84,051||BDT 83,539|
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 3,350 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.
Foreign exchange rates explained
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 US dollar in our historical rate chart.
Options for sending money to Bangladesh from the US
Depending on the transfer specialist you choose, you may be able to send money for delivery by:
- Bank transfer. Send money direct from your US bank account to an account in Bangladesh.
- Digital transfer specialist. Online providers like TransferWise, WorldRemit and OFX 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.
- Checks. It’s a slower method of sending money to Bangladesh, but it may be available with select providers.
How safe is a money transfer?
When processed through a reputable provider, your funds are safely tracked until they are in the hands of your recipient. Federal protections require that:
- All banks, credit unions and money transfer companies disclose fees up front, including international taxes.
- Users have 30 minutes to cancel a transfer that hasn’t been picked up or deposited.
- Companies list what to do in case of error and how to submit a complaint.
- Companies investigate when a consumer reports a problem.
- Companies accept responsibility for the mistakes made by people who work for them.
These protections apply to transfers for more than $15 that are made by a consumer in the US and are sent to a person or company in a foreign country.
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.Back to top
Cash pickup locations in Bangladesh
Read more on this topic
US remittance statistics We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
Best ways to send money online Navigate the world of sending money domestically and internationally with our hand-picked list of popular services.
XE vs. OFX money transfers Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
Alternatives to InstaReM Find the best alternative websites to InstaReM for online money transfers.
XE vs. Western Union We compare XE's and Western Union’s fees, exchange rates and transfer speeds side by side.
Remitly vs. PayPal Compare a well-known payments giant to the newer Remitly and see which one can give you a better deal.
Remitly vs. TransferWise Remitly and TransferWise’s fees, exchange rates and speeds compared side by side.
How to send money to Guinea Compare the services that send money to Guinea. Find out how to get the best value for your money, how long it takes and what to look out for.
Best places to exchange currency in Sydney Your guide to currency exchange services in Sydney, including where to find the best exchange rates and lowest fees.
Best places to exchange currency in Winnipeg Looking for the best deal on Canadian dollars in Winnipeg? Compare popular services and access handy tips to get the most out of your next transfer.
Ask an Expert