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Australia and Bangladesh have a strong trade relationship that dates back to 1971. According to history, Australia is one of the countries that set base in Bangladesh. This clearly explains why there are a good number of migrants from Bangladesh who reside in Australia. Nevertheless, the remittance reports show that there is millions of money that is transferred to Bangladesh by migrants. It can only mean that AUD to BDT exchange is something that started a long time ago.
In any case you need to send money from Australia to Bangladesh today, you are most likely to use one of the following options
Online money transfer: This is considered the cheapest way to send money from Australia to Bangladesh. Money apps are quite popular and the fact that they utilize smartphone technology makes them the ideal solution. It is important to know that there are so many cash transfer apps in the market and this makes it harder for new users to identify genuine transfer agents. So many people have fallen victim to cybercriminals who pose as genuine online money transfer agents only to end up conning the unsuspected public. With resources like Exchange Rate IQ on the other hand, you stand a chance of avoiding such unexpected scenarios. Some of the top choices that you can trust to complete your transfer include; Remitly, WorldRemit, TransferWise, Ria and XendPay.
Direct bank deposit: For a very long time, banks were the only way through which one could send money from Australia to Bangladesh. Today, bank transfer services remain relevant as they offer a money transfer service that is quite unique and helpful for legal transactions. When using bank deposit services, it is important to ensure that the provided exchange rates are updated. This will make it easier for you to be certain about the total amount of cash that you will spend on your transfer. One tip that most people use is using a bank with high rates to transfer money from Australia to Bangladesh. That way, they spend much less for the service.
Cash delivery for pickup: This is yet one of the earliest ways of money transfer and is considered one of the fastest ways to send money from Australia to Bangladesh. For Australia to Bangladesh transfers, MonryGram and Travelex are some of the options that you can use to complete your transfer. It is however good to know that fast international money transfer services usually come at a cost. The cost of transfer through the service depends on a number of factors including how much you are sending.
To enjoy a more flawless transfer, you will need to consider the following factors. Many people who fail to consider this process usually face problems with their transfers. The factors include;
Exchange Rate: Different money transfer agents provide users with different exchange rates. This is mainly because some of these service providers are too slow to keep up with the always fluctuating exchange rates. Always make sure your agent has the updated rates to avoid disappointments when you want to send money to Bangladesh from Australia.
Transfer duration: Without knowing how long money will take on the way, it can be hard to track the money or even know when to call in and confirm if it reached the intended destination. If you know how long the money will take, you can easily follow up with the support stuff if there is a delay.
Service availability: Although there are several online money transfer services in Australia, it is good to know that not all of them are present in Bangladesh. If you use such a service to send money, it is most likely that you will append much more than expected or, the receiver will get less money due to service charges that will finally avail the cash to them.
Customer reviews: One of the ways to find the best way to send money from Australia to Bangladesh is by finding out what the available services have to offer. The good thing with reading customer reviews is that they highlight some key issues that one can only deal with if they use the service. At Exchange Rate IQ, we have plenty of reviews on services that you can use to send money to Bangladesh.