According to a new report, send money to Bangladesh, and other developing countries from overseas migrants could recover to pre-pandemic levels, defying a World Bank prediction of a further decline in remittances to developing countries in 2021. Related to the global Covid-19 pandemic, which adversely impacted migration, remittance, a lifeline of the country’s economy, declined from the top countries in the fourth quarter of last year.
According to the central bank’s quarterly survey, Bangladeshi expatriates sent $6.23 billion in remittances in the October-December quarter of last year, down 7.17 per cent from the previous quarter.
Why Expatriates Choose Online Money Transfer As Best Option For Money Transfer To Back Home?
Sending a check or cash through the mail can be dangerous. As the check travels from your mailbox to the receiver, it is often possible that it will be lost or stolen. If the check is lost in the mail, you can be charged late fees as you attempt to persuade your creditors that you paid on time. The robbers gain access to your routing number and account number if the check is stolen, and they can theoretically drain your bank account with that information. Using online money transfers to Bangladesh and elsewhere rather than checks/cash avoids these issues and provides immediate proof that the payment was received.
How To Monitor Your Transaction Through Online Money Transfer?
You can use online money transfer services 24 hours a day, seven days a week. You will not be inconvenienced by having to wait for official banking hours. This ease of transaction is a significant benefit that brick and mortar establishments lack in urgent situations. Some services also provide round-the-clock customer service over the internet. When you have sent money to Bangladesh online, but meanwhile limited internet connectivity or other transactional problems that need human assistance, this resource comes in handy.
Aside from speaking with a customer service representative, most providers have chat boxes where you can guide any service-related questions. Online money transfers are instantaneous, removing issues like long lines in stores and waiting for cash. Money transfers to Bangladesh between virtual accounts take a few minutes versus days for a wire transfer.