Money workers send funds back to their families in their home countries and this has become the critical part of many economies across the world. In all this, Bangladesh is also becoming a country with major inward remittance which is sent from India, Saudi Arabia, the UAE and Kuwait. All this money remittance count to over 6% of the country’s GDP. All this money transferred is the major source of income for the remittance-receiving household and this is why migrants look for the cheapest ways to send money to Bangladesh.
Considering all the above facts, many money transfer companies have partnered with banks and agents to provide bank transfer and cash pick-up services. People were sending money with these companies but they were charging high fees as a hidden fee from them and they were incurring a loss. This is why people wanted an independent platform which can tell them and help them in deciding which one is offering the best rates. That’s how Exchange Rate IQ came into existence. Here you can compare the available options and also get an estimated value in Bangladeshi Taka (BDT) of the amount being transferred.