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.
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 Philippine peso in our historical rate chart.
Updated: 08 May 2021 18:51:48 UTC
Options for sending money to Bangladesh from the Philippines
Depending on the transfer specialist you choose, you may be able to send money for delivery by:
Bank transfer. Send money direct from your Philippine bank account to an account in Bangladesh.
Digital transfer specialist. Online providers like WorldRemit can send money quickly and easily. PayPal also allows transfers to Bangladesh from the Philippines. To use its services, both you and the recipient need a PayPal account and opening a new account is free.
Cash pickups. Providers like MoneyGram and Western Union allow you to send funds from an agent location. Those funds can then be picked up as cash from an agent in Bangladesh.
How do I receive money from Bangladesh in the Philippines?
When receiving money from Bangladesh in the Philippines, you can choose from these options.
Banks. By providing the recipient with your bank account details, you can receive money directly into your account. The sender can use the services of a local bank or a money transfer company to do this. You can also consider receiving a cheque, money order or draft, via mail.
Non-banks. Money transfer companies such as Western Union and MoneyGram have numerous cash pick-up centers across the Philippines. You can receive money from Bangladesh at any of these centers. Turning to PayPal is also an option, provided you and the sender have PayPal accounts. Withdrawing funds from your PayPal account to your bank account is easy.
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 in Bangladesh
Dealing with losing your wallet in a foreign land can be a challenge. If this happens when you are in Bangladesh, make sure you report your credit and debit cards as lost or stolen immediately. You can then think about receiving emergency money in these ways:
Cash pick-up. Can a friend or family member use the services of a transfer company to send you some money? If so, identify a convenient cash pick-up center first, because the sender will need its details. Make sure the center is in a safe, convenient location.
Cash advance through credit card. If you are still in possession of an existing Visa, MasterCard or American Express credit card, you may qualify for an emergency cash advance. To find out, you will need to visit a local participating bank.
Travel insurance. The right kind of travel insurance can provide emergency money to deal with situations such as medical emergencies, flight delays and cancellations as well as lost and misplaced luggage.
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.
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