There are many people from Bangladesh who work and live in different parts of the world. They’re among the biggest migrant workforce communities around the globe sending more than $10 billion home every year.
To handle such a vast volume of transfers, they obviously need a reliable provider with favorable rates and fees and quick turnaround times. While some prefer to wire money via a bank or even digital wallets like PayPal, many trust their money to online remittance providers.
Online providers charge considerably lower than PayPal or banks, and they support a wide range of countries, like Bangladesh. We’ve listed some of the best options to help you send money to Bangladesh in this article.
Wise (Formerly TransferWise)
Wise has gained popularity by charging reasonable fees, making it a suitable option for transfers of all sizes. In most cases, Wise takes three to five days to send money to Bangladesh. Another potential concern among Wise users is that the exchange rate is below the mid-market level.
Plus, Wise doesn’t have an established customer base in many exotic destinations such as Bangladesh, hence the longer transfer period. Besides, there are no tools to monitor spending and budgeting, and there’s no guarantee for deposits or standing orders. There are also some compatibility issues with platforms like PayPal.
TransferGo
Users like TransferGo due to their favorable rates and fees. This is considered a plus in global transactions. TransferGo offers an express option to help customers send money in several hours but charges exorbitant fees for it. Customers have to pay additional fees for using debit/credit cards as well.
One of the biggest downsides to TransferGo is that customers can only receive money via a bank deposit. In addition, many users complain about the lack of quality support during weekends or non-working hours.
Lycaremit
Lycaremit has become a popular provider by offering ultra-competitive fees and favorable rates. Thanks to an established base in Bangladesh, Lycaremit can help send money to Bangladesh in two days max, pretty much second to none in the remittance market.
In addition, a great benefit to Lycaremit is the following: no hidden fees or sneaky add-ons included in the exchange rate margin. Lycaremit is one of the few companies that charge ultra-competitive fees while providing 24/7 support to all its customers (individuals, businesses, etc.).
Bottom Line
Sending money to Bangladesh doesn’t have to be complicated. All you need is a reliable remittance provider that offers affordable fees and reasonable exchange rates. A reliable provider like Lycaremit can send money to Bangladesh within two days while allowing you to enjoy working and living in a new land!
Don’t hesitate a second longer and register and allow our team of experts to handle everything else.
