The international remittance industry is blooming overnight with various transitions. If you are an ex-pat from Bangladesh and wish to send money to Bangladesh or your home country. There are certain things that you must know before sending money to Bangladesh. We will discuss all the relevant factors in detail – so that you can get excellent rates during money transfer to Bangladesh. With the advent of digital money transfer, an eminent increase in remittances can be experienced. No doubt, it has become easier to send money to Bangladesh with modern digital money transfers.
Whether you send money to Bangladesh on a weekly, monthly or annual basis. It is your right to acquire excellent rates on international remittance. Certain factors may contribute towards the economic and market competitive exchange rates. Whenever you are sending a money transfer, always keep track of few things.
Market Competitive Exchange Rates
Better exchange rates refer to higher remittance amounts. If your money transfers to Bangladesh or another country from overseas. The topmost priority should be finding the best and market-competitive exchange rates. There are multiple remittance service providers available in the remittance industry. But not all will provide you with the same exchange rates. So, it’s better to figure out the best one and always take the deal of the hour. The most renowned money transfers service providers in the world include:
- ACE Money Transfer
- Western Union
- World Remit
Do exchange rates matter?
If you are living overseas, earning bread through working day and night. Exchange rates are a great deal, especially when you are sending money back to your homeland. Lower exchange rates impact directly upon remittance amount. So, it is always advised to seek competitive exchange rates by comparing different options.
Lower Transactional Costs
International money transfers contribute to the livelihood of people in Bangladesh. If you are a Bengali ex-pat, residing in a different corner of the world. You might need to check for the lowest transactional costs. Lower transactional costs lead to higher remittance amounts at the consumer end. Many remittance service providers charge higher transactional costs. It is suggested to use minimum services from such remittance service providers.
ACE Money Transfer- one of the leading and renowned remittance service providers. Now offers the lowest transactional costs for international remittance transactions. Send money to Bangladesh online with ACE Money Transfer and enjoy the luxury experience of remittance transactions.
Comparing Different Service Providers
The world is full of different varieties for sending money transfers from one country to another. Similarly, there are different methods available for money transfer to Bangladesh. However, it is highly advised to compare the pricing per transaction from different service providers. As it will give a better demonstrational idea about the costs incurred for each remittance transaction. There are certain factors that you must always ensure before sending a money transfer to your home country.
- Lower Transactional Costs
- Market Competitive Exchange Rates
- Reliable Services
- Network Coverage
Money transfer companies with trusted affiliations and associations should be the first requirement. There are fraud money transfer service providers, offering cheap and attractive deals. But once you send money through such a network in search of saving big. You might end up with empty pockets at the end. So, it is always better to send money via an authorized remittance service provider.
Ways to Transfer Money to Expats Home Country
According to a study, a significant number of money transfers are recorded for Bangladesh from Europe, the USA, Nigeria, etc. You can also transfer money from your bank to your home country. If your bank has a physical representation in the destination country as well. This might contribute to the savings in terms of both time & money. If you are willing to send a money transfer to Bangladesh. You must keep in mind that they are two major money transfer ways:
- Bank to Bank Transfers
- Online Money Transfer
The bad side of money transfer via bank to bank is the transactional and exchange costs. Normally it takes around 30$ to 40$ per transaction to process money transfer via banks. Whereas the exchange rates may range somewhere from 5% to 7%. Taking all these costs altogether may add to an increased amount of costs for sending money transfers.
Send Money via Online Money Transfer
Multiple money transfer companies have captured the present remittance industry. Just like ACE Money Transfer, Western Union and the list goes on. High-rated money transfer service provider takes the lead by providing convenient money transfers procedures. Different money transfer service providers offer various methods of payments for money transfers, such as.
- Bank transfer
- Direct bank debit
- Credit Card
- Debit Card
Summing up the above discussion, it is possible sending money to Bangladesh. But, for which methods are fair and more attractive. That’s completely up to you for decision. However, it is feasible to select ACE Money Transfer as your reliable remittance service provider for online money transfers to Bangladesh. Equipped with the most extensive network coverage and lower transactional costs. Create an account today on the official portal of ACE Money Transfer and start sending a money transfer to your home country.