Are you looking for the best way to send money from Canada to a family member, friend, or business in Bangladesh?
Recipients will get more takas if you send money to Bangladesh from Canada with an online international money transfer service because they offer more competitive exchange rates and cheaper transfer fees.
Need to transfer money to Bangladesh from Canada?
Best ways to send money to Bangladesh
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How to send money to Bangladesh from Canada
Money transfer services offer a convenient, fast, and inexpensive way to send money to Bangladesh from Canada. This step-by-step process explains how it works.
- Choose a money transfer service. On this page, you can find reputable money transfer services that can transfer money to Bangladesh.
- Register for an account. You must provide your name, street address, email address, phone number, and photographic ID.
- Set up the transfer. You will need to provide details such as the recipient’s full name, address, bank account number (if that’s where you want the funds delivered), and how much money you plan to send. Depending on the service used, it may be possible to choose how funds will be delivered to the recipient in Bangladesh.
- Choose how you will pay for the transfer. For example, you can use a bank transfer, debit card, credit card, or cash. The method you choose to pay will affect how long it takes to transfer the money and how much the recipient will receive.
- Send the money and track the transfer. Once initiated, you’ll be able to track the progress of your funds and will need to inform the recipient.
What are the fees and charges?
Costs for sending money to Bangladesh from Canada
- Service fee. How much a money transfer service charges for sending money to Bangladesh depends on several factors, including how much is being sent, how it will be delivered, and how the transaction is funded.
- Collection fee. The sender or recipient may be charged a fee for collecting the money in Bangladesh.
- Delivery fee. Sending money and having cash physically delivered to the recipient typically involves paying an extra fee.
- Cash advance fee. When sending money to Bangladesh from Canada and funding the transaction with a credit card, you will likely be charged a flat fee or a percentage of the total amount transferred – whichever is greater.
- Currency exchange rate. When you send large amounts of money abroad, the exchange rate between the Canadian dollar and the Bangladeshi taka can significantly impact how much your recipient will get. Because foreign currency exchange rates fluctuate constantly, a few minutes or an hour can affect how much money the recipient receives.
Looking for other options?
Alternative ways to send money to Bangladesh from Canada
There are a few ways to send money to Bangladesh without using an online money transfer service.
- Bank transfer. Sending money with your bank may be easy, but it is typically more expensive, slower, and less flexible than an international money transfer service.
- Crypto. All banks, non-banking financial institutions and mobile financial service providers such as bKash and Nagad are prohibited from exchanging, transferring, or trading virtual assets and currencies.
- Money orders. A money order is one of the oldest ways to send money from one person to another. For example, you can buy a money order in Canada and then post it or courier it to your recipient in Bangladesh. Once your recipient receives the money order, they can take it to a bank or post office to cash it in.
- Money transfer agents. If you don’t have a bank account or want to use cash, consider using a money transfer service. Make sure there is one near the recipient so they can collect their funds.
- Prepaid cards. A prepaid card can be loaded with cash for the recipient to use at an ATM in Bangladesh. However, some cards may limit how much you can load and spend, and there may be fees for using the card overseas.
Still not sure?
How long does it take for money sent from Canada to arrive in Bangladesh?
The length of time will depend on the method used to send the money. For example, a bank transfer can take a few days, while money sent with a money transfer service can arrive within minutes.
Can I send money to Bangladesh if the recipient has no bank account?
Yes. You can still send money through a transfer service if the recipient has no bank account. The sender can configure the money transfer so the recipient can collect cash from a specific location, or a courier can deliver the cash. Alternatively, you could use a money order, send crypto, or even send a prepaid card.
Is it safe to send money to Bangladesh from Canada?
Yes, sending money to Bangladesh from Canada is safe when you use a reputable company. We only list established money transfer services on Finty.
Can I send a money order to Bangladesh from Canada?
Yes, it is possible to purchase a money order in Canada and send it to Bangladesh via post or tracked courier. The recipient can then cash the money order at a bank, credit union, local post office, etc.
Can I use my credit card to send money to Bangladesh from Canada?
Yes. You can fund a money transfer to Bangladesh with a credit card. However, your credit card issuer may charge a cash advance fee since the transaction will most likely be classified as a cash equivalent. Additionally, the transaction will immediately incur interest at the cash advance rate.
Can I send cryptocurrency to Bangladesh from Canada?
No. According to the Foreign Exchange Regulation Act, the Bangladesh government has made crypto illegal (Freemanlaw, 2022). Anyone associated with crypto in Bangladesh will face serious consequences under the Foreign Exchange Regulation Act, 1947; Anti-Terrorism Act, 2009; and the Money Laundering Prevention Act, 2012 (Bangladesh Bank, 2017). All banks, non-banking financial institutions and mobile financial service providers such as bKash and Nagad are prohibited from exchanging, transferring, or trading virtual assets and currencies.