What is the cost of sending money to Bangladesh from US?
There is no standard cost for sending money to Bangladesh from US. That is because, the USD and BDT exchange rates are influenced by the forex market which is hardly stable.
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The general remittance to Bangladesh has been on a constant rise. In 2019, it was reported that money sent to Bangladesh by immigrants between the month of November and December went up from 1472.2 USD million to 1639.6 USD million. It is expected that these figures will rise further in the future.
There are so many options to go with depending on how much you want to transfer to US from Bangladesh and they include;
You can deposit money directly to banks in Bangladesh from US. Most American banks do offer these services but if you are more of an online person then you can consider services like Xoom that can also send money to specific pick up points, usually banks.
There are so many only money transfer services that you can use to send money from US to Bangladesh as long as the recipient holds the same account.
Although this is somehow an outdated money transfer method, some people still find it reliable. Sending money using post office services has one benefit and that is, the recipient gets to pick his or her money at the nearest post office. Convenient before the internet was discovered. You can consider western union as well.
It is safe to say that there is nothing like best way to send money from US to Bangladesh because people have different preferences. It is however important to mention that before settling on a service provider of your choice, make sure you have don’t your homework. Many people have fallen victim to con artists posing like USD to BDT exchange providers.
To be safe, you can always count on Exchange Rate IQ for updated rates and reviews of cash transfer companies that can provide you satisfactory USD to BDT transfer and exchange services.
Money is sensitive and that is why you need always to be cautious before trusting any transfer company. Some of the things you will need to keep in mind include;
USD to BDT Exchange Rates
How long it will take
Credibility of the transfer company
Convenience to the receiver