Fastest Ways to Send Money to Bangladesh?
Sending money to Bangladesh is not as difficult as you might think, which should be a relief to you and your relatives. As long as you find a suitable option that works well, the experience should be painless. However, considering all of the options before transferring money on one is important as they are not created equal. As a matter of fact, some are cheaper and faster than others.
The Bangladeshi Taka is controlled by the nation's government and is doing better than other currencies of the region. Money can be exchanged at the airports, banks, railway stations, hotels, and offices called Bureaux de Exchange. You might first like to use a bank to send money to Bangladesh, either your own or a different financial institution. For instance, you can send money through Bank of America which charges around $50 to send an international wire transfer in US Dollars and $40 to convert it into Bangladeshi Taka.
You will need to enter the recipient's name, the address, his bank's name and the bank account number. Bangladeshi banks such as Islami Bank Bangladesh Limited, Pubali Bank, IFIC Bank, Rupali Bank, AB Bank, NCC Bank and Bank Asia Limited have specific rules for those who wish to send money to Bangladesh. It is that customer must supply the recipient's phone number, name, and instructions that the recipient must go back to the bank to sign forms in order to receive the money. Don't forget that Bangladesh is named on the list of countries that are infamous for being slow to pay out money.
There is another method that might be faster and that is the prepaid debit card. You can usually send the card to one of your relatives and add money to it by the Internet. The funds will be available within 24 hours. The fee is $6 each time you add money.
If you need to send money to Bangladesh fast, a bank might seem like the safest option. But the fact that they take weeks to disburse money could be inconvenient. Thinking outside is could help after all it is a market based mixed economy and is listed as one of the ten emerging markets with a GDP of $220 billion. It is the third largest economy in South Asia after Indian and Pakistan. That is why considering newest options like a prepaid debit card might be exactly what you need.
More for your money when buying currency in Bangladesh. By taking a look at the most recent currency rate that is being offered for the Bangladesh Taka (BDT) you will be able to get more for your money. No one wants to feel as though they have not got a good deal when it comes to transferring money, so do your home work. It will not cost you anything to use an online currency converter and you can do this each day, should you wish to. In fact if you are in no hurry to send money to Bangladesh and can afford to wait for a few days you can watch the rate and transfer funds when it is strong.
Consider a money transfer to Bangladesh?
As well as keeping informed about the most recent exchange rate you will want to ensure you use the safest and easiest method to get money to someone in Bangladesh. To really save a whole lot of time and effort you should transfer money to Bangladesh rather than sending currency directly or putting funds on a credit card that has been pre paid. Such a transfer can be completed in minutes and the money will then be available in Bangladesh almost immediately.
Currency declaration from Bangladesh?
You also need to know that if you send foreign currency through the post (which is not advisable) your recipient will have to complete a currency declaration form before they can get Bangladesh currency. However, if you complete a simple currency transfer to Bangladesh this should not be an issue. Currency declaration forms are often used by holidaymakers, so avoid their use by transferring funds directly.