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Small transfers & cash transfers
Remittances contribute significantly to Bangladesh’s economy, according to the World Bank, fuelled by the more than 10 million migrant workers who send their hard-earned money back home to friends and family. If you’re planning to send money to Bangladesh and want to get as many takas as possible into the hands of your loved ones, look beyond traditional banks to digital money specialists. You’ll find they offer the strongest rates and lowest fees on your next transfer.
Sign up and send money to Bangladesh with a digital money transfer specialist in four steps:
Let’s say you want to send £1,000 to family in Bangladesh. Here’s a comparison between a bank and money transfer specialists offering cash pickups and bank deposits. This table uses real fees and exchange rates and is current as of 11 April 2020.
|Bank transfer||Cash pickup||Money transfer service|
|Fee||£30 + bank fees||£12||£2|
|Exchange rate||1 GBP = 102.43 BDT||1 GBP = 105.85 BDT||1 GBP = 105.46 BDT|
|Transfer speed||2-4 days||Minutes||Same day|
|Amount received||BDT 101,462||BDT 104,545||BDT 105,257|
The bank ends up being both the slowest and most expensive way to send money to Bangladesh, resulting in the least amount of money delivered among the three. The cash transfer specialist is the fastest, but the money transfer service provides the best value, delivering some 3,795 more takas to your loved ones.
Weigh costs and fees against convenience to find the best money transfer specialist for your needs to send money to Bangladesh:
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.
If you need to send money to Bangladesh you can track how the Bangladeshi taka trades against the pound sterling in our historical rate chart.
Advise your recipients to practice caution when picking up cash:
Some situations in life require sending money quickly. If you need to send money to Bangladesh as an emergency, 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
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