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Find the Best Money Transfer App to Bangladesh in Real Time

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A group of hardworking trishaw operators waiting for customers in Dhaka, Bangladesh. Adli Wahid on Unsplash

Here’s How To Find the Best App To Send Money to Bangladesh

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The cheapest way to send money to Bangladesh is usually to make an international bank transfer to a local bank account in Bangladesh via a money transfer app, which you can pay by debit card or local bank transfer.

According to tens of thousands of results on Monito's comparison engine, other cheap ways include sending money via a money transfer app for be picked up in cash in Bangladesh, or delivered onto a mobile money wallet such as bKash or Upay.

Money transfer apps such as Remitly, WorldRemit, and Wise are good examples of such solutions; they offer reasonable exchange rates very close to the mid-market rate and apply transparent and low fees. These solutions will be much cheaper than making an international bank transfer to Bangladesh with your bank or using PayPal, which comes with higher costs and take a considerable margin on the exchange rate when converting your money into takas.

Fortunately, there are dozens of excellent options out there. Run a search on Monito's real-time comparison engine to compare them all and find the best way to send money to Bangladesh now:

Find the best way to send money to Bangladesh in real time:

With more than 13 million Bangladeshis living abroad in the diaspora and regularly sending money back home, Bangladesh is unsurprisingly one of the biggest recipient countries of remittances in the world.

As you'll find on Monito, there are plenty of options for sending money back to Bangladesh. On our website, we detail over 90 money transfer apps and banks for converting your money into takas and sending it home. We know there are many options to transfer money to Bangladesh, which is why we compare all of the most popular ones side-by-side to help you can make an informed choice.

Ultimately, the best money transfer provider for you will depend on several factors such as how much you're sending, where you are sending from, the currency you are exchanging into BDT, and a few others. We take all of those details into account when recommending the best way to send money to Bangladesh. We’ll help you find the fastest and cheapest ways to send money home. For example, we can tell you the best money transfer apps for sending money to Bangladesh from the USA or the UK.

Information Needed To Send to Bangladesh

The following pieces of information will be needed whenever you send money to a Bangladeshi bank account from overseas:

  • Recipient's name: The name of the person to whom you're sending money.
  • Recipient's address: For legal reasons, some money transfer apps might ask you to enter the postal address of the recipient (including their street, city, and postal code).
  • Recipient's bank & branch: You need to enter the bank's name, often by selecting the name in a list (e.g. IFIC Bank, Janata Bank, etc.) as well as the relevant branch code.
  • Account number: The bank account number of your recipient. This number should be at least 17 digits.
  • Mobile phone number: If you're sending money to a mobile wallet, you'll need to enter your recipient's mobile number (including the country code +880) instead of their bank details.

There are more than 60 banks in Bangladesh. Some money transfer apps can send money to any bank in Bangladesh, while others will only allow you to send it to certain banks. In most cases, however, if the recipient’s bank account is with one of the more popular banks in Bangladesh, it should work with any of the money transfer apps we recommend.

Banks in Bangladesh do not use the IBAN system, which means you will generally be asked to enter the name of the recipient’s bank (or choose from a list of banks) and enter the recipient’s bank account number. For most transfers, you will also be required to enter the postal address of the recipient in Bangladesh.

Best Ways To Send Money to Bangladesh

There are several good options for sending money to Bangladesh, depending on how the person you’re sending money to wants to get access to their takas.

Bank Deposit

You can normally arrange to send BDT from a bank account abroad to any of the following banks: HSBC, Janata Bank, IBBL, Sonali Bank, and Dutch-Bangla Bank, and others. If you send money to a Bangladeshi bank account with a money transfer app, you can save up to 90% in fees and exchange rates compared to a big bank in your country of residence. On Monito's comparison engine, XE Money Transfer is usually the cheapest money transfer app for bank deposits in Bangladesh:

Cash Pick-Up

If your beneficiary wants to collect takas as cash in Bangladesh without going through a bank, then money transfer apps like Remitly and WorldRemit are good options, as each offers excellent prices and (especially Remitly), large numbers of banks where cash can be picked up nationwide.

Remitly provides cash pick-ups from various bank networks and their partners, including branches of Janata Bank, IBBL, Sonali Bank, and Dutch-Bangla Bank, and dozens of others. WorldRemit, on the other hand, only supports transfers for pick-up at Dutch-Bangla Bank and Brac Bank.

Mobile Wallets

Many Bangladeshis use mobile wallets to send and receive money. Popular mobile wallets in Bangladesh include Upay, bKash, and Rocket. WorldRemit supports transfers to bKash and Rocket, while Remitly supports transfers to Upay and bKash.

What to Avoid

Besides sending money to Bangladesh with your bank, we also recommend you avoid using Xoom and PayPal to send money into the country from abroad, as both platforms charge high fees and exchange rates and are easily outdone by better money transfer apps like Remitly.

If you have any questions about sending takas to Bangladesh, we’re happy to help, get in touch with us now. Otherwise, we recommend finding the best deal in real time on our comparison engine:

Find the best way to send money to Bangladesh in real time:

FAQ About the Best Ways to Send Money to Bangladesh

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