About the United Kingdom and Bangladesh
The GBP to BDT exchange corridor is one of the most engaged. This can be explained by the high number of immigrants who want to send money back home. Nevertheless, there are so many other players that contribute to the millions of Pounds that cross the border to Bangladesh like outsourcing companies working with freelancers. There are also investors and other people who fancy owning property or businesses in Bangladesh and need to send large amounts of money. Whichever the reason, you can always send money from the UK to Bangladesh cheaply and within a very short time.
How to send money from the UK to Bangladesh with best rates
Money transfer from the UK to Bangladesh is not something new at all and today, we get to enjoy some of the transfer services that evolved from processes that were not very efficient. There are three main ways which you will probably use to send money from the UK to Bangladesh and they are;
Banks: We all expected banks to be on the list since they are the giants in the money transfer business. Sending money to Bangladesh through a bank is today another experience and the best part is, you don’t have to go and queue in the banking hall. All you need is a smartphone all thanks to mobile banking. You can now send money from your bank account in the United Kingdom to Bangladesh within a few browses of your phone. However, you will want to make sure that you get an account with a bank that can facilitate the process.
Online transfers: There is no cheap way of sending money from the United Kingdom to Bangladesh other than online. To make it clear, you can send money to Bangladesh for free if the cheapest means is what you want. Money apps also allow you to make instant money transfers but it is good to be clear that these services have their ups and downs. For example, online money transfer services are the fastest way to send money from the UK to Bangladesh but the aspect of fast transactions usually comes at a relatively high price. According to users, some of the most used money apps for sending money from the UK to Bangladesh include; WorldRemit, TransferWise, Azimo, Remitly, Xoom, XE Money, and Ria.
Cash delivery and pick up services; Another ancient money transfer method that has today adapted to the new environment is the cash delivery services. When sending money to Bangladesh using this method, you get to enjoy fast services but you should know that they come at a cost. With services such as Western Union, transferring money to Bangladesh can be less complicated and the recipient will not have to wait more than 30 minutes before they hold the money in their hands. Another benefit of these services is that they are today available online so that you don’t have to walk into their premises in order to initiate a transfer. Apart from Western Union, other cash delivery services that you can use to send your money to Bangladesh include; MoneyGram and Travelex.
Things to consider when sending money from the United Kingdom to Bangladesh
If you have to send money to Bangladesh successfully, you have to ensure that you do it right, especially if you want to get the best rate to send money from the UK to Bangladesh. To achieve this you should consider;
Cost of transfer and exchange rate: Make sure that you can afford the service that you wish to use if you don’t want to be disappointed. There is no need of rushing into service because they offer the best exchange rates only to find out that the cost of service is nothing like you expected. Through our platform, we avail of all this information to help you make a sound transfer decision that will not eat into your budget.
Service security; this should go beyond losing money because you will hardly lose money if you send it through a legit agent and the worst that can happen is your transaction experiencing delays. With good security, you should be able to track your money and know the status so that you can take the necessary steps on time in the case of a delay.
The receiver; Make sure that you pick an option that will make it easy for the receiver to get the money. However much that there are so many options to go with when it comes to international remittance does not mean that you can find all the transfer companies in all countries in the world. Some that are in the UK are not in Bangladesh and if you make the mistake of selecting a service that is not in Bangladesh then you will end up spending much more than even the most expensive way of sending money from the UK to Bangladesh.