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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.

Send money to Bangladesh with InstaReM

Exclusive: Use code FINDER10 to receive US$10 off your first transaction.

InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.

  • Low transfer fees
  • Zero-margin exchange rates
  • Same or next business day transfer
  • Earn loyalty points on sign up, referral and every transaction
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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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Same day MYR 3.99 20.448 BDT
102,158
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
USD 60 1 day MYR 0.00 20.477 BDT
102,383
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees. Go to site Show details
USD 120 1 - 2 days MYR 5.00 20.386 BDT
101,829
Malaysia-based MoneyMatch offers competitive exchange rates for overseas money transfers from MYR to more than 70 countries. Go to site Show details
USD 200 1 day MYR 25.00 20.473 BDT
101,851
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
USD 1 1 day MYR 110.00 20.555 BDT
100,513
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How to send money to Bangladesh online

Sign up and send with a digital money transfer specialist in four steps:

  1. 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.
  2. 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.
  3. Pick an amount. Indicate how much you want to transfer, and confirm the exchange rate and any fees before completing your transaction.
  4. Save your receipt. Hold on to your confirmation details to monitor the progress of your transfer.

Crunching the numbers: Sending RM1,000 to Bangladesh

Let’s say you want to send RM1,000 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. This table uses real fees and exchange rates current as of 16 September 2020.

Bank transferCash pickupMoney transfer service
FeeRM30 + bank feesRM5RM21.65
Exchange rate1 MYR = 19.787 BDT1 MYR = 20.337 BDT1 MYR = 20.532 BDT
Transfer speed2–4 daysMinutes1–2 days
Amount receivedBDT 19,194BDT 20,236BDT 20,101
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 1,040 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.
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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 Malaysian ringgit in our historical rate chart.

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Options for sending money to Bangladesh from Malaysia

Depending on the transfer specialist you choose, you may be able to send money for delivery by:

  • Bank transfer. Send money direct from your Malaysian bank account to an account in Bangladesh.
  • Digital transfer specialist. Online providers like Wise, 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.
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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.

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Cash pickup locations in Bangladesh

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