When you first realise that you need to transfer money to Bangladesh - be this to cover payments on a property, to move your pension overseas or just to transfer money back to your family - you will quickly notice that there are a number of options available to you.
One of the most obvious possibilities is to use your local high street bank to transfer money to a bank account in Bangladesh. You can enquire at a bank in your country of residency about how to set up transfers to Dhaka Bank Limited or Bangladesh Bank.
However, the convenience and security of using a bank to transfer money to Bangladesh tends to come with a high price. You can expect to pay a high fee on each transfer to Bangladesh that you make and the foreign exchange rate on the taka is usually poor.
Alternatively, you might want to discuss your options to transfer money to Bangladesh with a Money Sending Bureau. These are located on high streets and in shopping malls around the world and will allow you to transfer money internationally. Unfortunately, the fees charged by these poorly regulated establishments tend to be even higher than those on offer from the banks - often reaching ten to 15 per cent of your transfer!
Your third option is to research using a foreign exchange specialist to transfer money to Bangladesh.
Currency specialists will offer a competitive rate of exchange. But on top of this you can expect to pay low transfer fees at all when you choose to move your money with RationalFX!
But there is no need to decide how to transfer money to Bangladesh just yet. You can open an online account with RationalFX for free and see just what the currency exchange rate for the taka is today. This figure can then be compared with as many other sources as you like, enabling you to make a well-informed decision about the best way to transfer money to Bangladesh.