Fastest Mode to Transfer Money to Bangladesh

Growing number of Bangladeshi people have migrated to another country due to high rise in population and inflation rates. It has been estimated that more than 5 million people from Bangladesh work overseas and send money back home. It is not a difficult task to transfer money to Bangladesh. You just need to choose a reliable mode for a quick and hassle-free remittance experience.

Here are some of the popular methods for sending money to Bangladesh from another country:

• Majority of people prefer to use the wire transfer method to

send money from United Kingdom to Bangladesh. This is a preferred method for people who don’t have a bank account. Third party money remittance companies conduct this transfer method for them. They work like an agent in making sure that the money reaches the receiver in Bangladesh

• Bank to bank money transfer is another method of sending money to Bangladesh from another country. Many international as well as local banks make this process easy for hassle-free money transfer to the country
• Many people even use prepaid debit cards to send money. It is not only a low cost method but the card can also be reloaded due to which it is a preferred method for many Bangladeshis
• Online money transfer agencies have also become a popular choice for remittance. This is one of the fastest growing options that is not just convenient but also cost-effective. Majority of online agencies offer competitive currency exchange rates and charge low transfer fees. Compared to the high charges of a bank, online remittance agencies have made money transfer quick. Money can reach the receiver in few minutes or the same day. Since the currency exchange rate offered by such agencies is low, the receiver gets maximum of what is being sent. It also helps the sender save time because the hassle of going to bank is eliminated. They can make a transfer from the comfort of their house or office at anytime of the day

If you also wish to send money back home to your family or to a business associate, money transfer companies will be a better choice when compared to banks. For instance, some online remittance agencies update their currency exchange rates every six seconds whereas banks don’t update their rates this frequently. So, if you choose an agency, you will be able to save time as well as money.

How to compare money transfer companies?

Transfer fees- This is the fee that is charged by banks or money transfer companies for sending your money to Bangladesh. In some cases, this fee is waived by the agency if you are sending a large amount

Exchange rates- This is an important factor that determines the total cost of sending money. It is recommended to look for provider that is offering low exchange rate; however, don’t forget to take their transfer fee into account

Other factors are turnaround time, customer service and pickup methods.

Summary

If you are planning to send money from United Kingdom to Bangladesh you can choose the online method to transfer money to Bangladesh as it is quick and cost-effective.