Sun, Nov 24, 2024 | 22 Jumada Al-Awwal 1446
Sun, Nov 24, 2024 | 22 Jumada Al-Awwal 1446
If you're an expat in the UAE looking to send money back home to Bangladesh without burning a hole in your pocket, you're in luck! With plenty of services and platforms at your fingertips, sending money across borders has never been this easy.
In this guide, explore some of the finest methods for sending money from the UAE to Bangladesh ( AED TO BDT ).
Sending money through banks is a traditional yet reliable option. International wire transfers are available from banks in the UAE such as Emirates NBD, Dubai Islamic Bank, and others. While this approach appears to be secure, it is costly due to large transfer fees and bad exchange rates. Furthermore, the funds may take several days to reach the beneficiary.
Sending money online offers comparable exchange rates and reduced fees compared to dealing with banks. Platforms like Wise (previously known as TransferWise), Remitly, and Skrill offer rates similar to banks but with smaller fees. They're speedy too – you can usually get your money across in just a few hours or a couple of days. Take Wise, for instance – it lets you send money directly to your loved ones' bank account in Bangladesh without costing you much.
There are numerous exchange houses in the UAE, including Al Ansari Exchange and UAE Exchange. These businesses offer international money transfer services to Bangladesh. They frequently have branches in Bangladesh, which makes it easy for the beneficiary to collect the sent monies.
Some mobile wallet services enable customers to transfer money across borders. Users can send funds to Bangladesh via services such as PayPal and Paytm. However, the availability of such services may vary, and rates may be greater in comparison to other possibilities.
As digital currencies such as Bitcoin and Ethereum gain popularity, some people prefer cryptocurrency transfers. While this method may appear unusual, it offers lower rates and speedier processing. However, both the sender and the receiver must be familiar with and have access to Bitcoin wallets.
Consider the following aspects when selecting a money transfer service:
Look for services that offer competitive exchange rates to guarantee that your receiver receives more Bangladeshi Taka every Dirham sent.
Compare the prices charged by various services. Some platforms may promote inexpensive costs but provide poor exchange rates, so calculate the overall cost of the transfer.
If time is of the essence, choose services that offer speedier transfers.
Make certain that the service you select prioritizes security measures to protect your money and personal information.
Check Reliability: Before transferring, make sure the service is reliable and trustworthy. Read reviews and check licenses for an informed decision.
Avoid delays by collecting recipient details – full name, bank account info, and any specifics needed by the transfer provider – beforehand.
Picking the right way to send money is all about what matters most to you. Whether you care most about quick service, low costs, or keeping things super safe, there's no one-size-fits-all answer.
Do you want a bank for reliability, an online platform for speed, or an exchange house for convenience? Maybe you're into the tech side and like the idea of using cryptocurrency.
So, look for what suits you. Check out different options, see who gives you the best deal with fees and rates and make sure they're keeping your money and info safe.
Remember, the best way to find your 'best way' is to explore and compare.
Your money, your choice, your way!
Finally, there are several alternatives for sending money from the UAE to Bangladesh, each having advantages and disadvantages. Choose the technique that best meets your needs, whether they be speed, cost-effectiveness, or convenience. When transferring your hard-earned money, always prioritize reliability and security to ensure a smooth and secure transaction.
What might be important to one person, might not be important for you. Choosing a provider that is a good fit for you is essential for an excellent customer journey. With money transfers, there is no universal best way. It comes down to what you want and what you need. Whether it’s service, security, speed or cost, you have to choose a provider that fits your requirements. To truly find your ‘best way’, having a shop around and comparing your options is your best bet.
