Best Ways to Send Money to Bangladesh from Canada

Sending money to Bangladesh from Canada can be essential for various reasons, including supporting family, making investments, or paying for services. In an increasingly globalized world, the need for efficient, reliable, and cost-effective money transfer solutions is more important than ever. This article explores the best ways to send money to Bangladesh from Canada, highlighting RemitBee as the top option.

Traditional Banks

Traditional banks have been the long-standing choice for international money transfers. They offer the security of being well-regulated and having a physical presence. However, when sending money to Bangladesh, there may be better options than traditional banks. They often charge higher transaction fees and provide less competitive exchange rates. Additionally, the transfer process through banks can be slow, sometimes taking several days to complete.

Money Transfer Operators (MTOs)

Money Transfer Operators such as Western Union and MoneyGram provide specialized services for sending money abroad. They are known for their widespread availability and the option to send money that can be picked up in cash at various locations in Bangladesh. While MTOs are faster than banks, they still charge high fees, and their exchange rates can be less favorable than other options.

Online Transfer Services

In the digital age, online transfer services have become a convenient and efficient way to send money internationally. These platforms offer several advantages over traditional methods:

• Lower Fees: Online services typically have lower overhead costs, allowing them to charge lower transaction fees.

• Competitive Exchange Rates: Many online services offer rates closer to the mid-market rate, helping senders get more taka for their Canadian dollar.

• Speed: Transfers through online platforms can be completed within minutes or hours, depending on the service chosen.

• Convenience: Online services allow you to send money from the comfort of your home using a computer or mobile app.

Among the plethora of online transfer services, RemitBee is a particularly effective option for those sending money to Bangladesh from Canada.

Why RemitBee is the Best Option ?

RemitBee is a Canadian-based online money transfer service designed to meet the needs of the diaspora and others needing to send money internationally. Here’s why it is considered the best option for transfers to Bangladesh:

• Excellent Exchange Rates: RemitBee offers competitive exchange rates often better than what you'd find at banks or other MTOs. This ensures that more money reaches your loved ones in Bangladesh.

• Low to No Fees: If you send over 500 CAD, the fees will be waived, making it a cost-effective option. For smaller amounts, the fees are transparent and significantly lower than those of traditional banks.

• Fast Transfer Times: RemitBee ensures that the money reaches its destination quickly. Most transfers to Bangladesh are completed within the same day, and recipients can receive funds directly in their bank accounts or pick up cash at various locations.

• Security: As a FINTRAC-regulated entity, RemitBee offers a secure platform that protects your financial information and ensures safe transactions.

• User-Friendly Interface: The RemitBee app and website are designed with user experience in mind, making it easy for anyone to send money without hassle. Whether you are tech-savvy or not, navigating through the process is straightforward.

• Customer Service: RemitBee provides excellent customer service, with support available to help resolve any issues or answer questions during the transfer process.

Other Online Alternatives

While RemitBee is a top choice, there are other notable online services like TransferWise (now Wise), Xoom, and WorldRemit, each with its benefits. Wise is known for using the real exchange rate and transparency in fees. Xoom allows users to send money to a variety of pick-up points in Bangladesh, and WorldRemit is praised for its broad service range, including mobile money and airtime top-ups.

Considerations When Choosing a Service

When selecting a service for sending money to Bangladesh, consider the following:

• Exchange Rates: Compare current rates as they can fluctuate.

• Fees: Look for hidden charges or fees for different transfer amounts.

• Transfer Speed: Depending on your needs, check how long it will take for the money to reach the recipient.

Recipient’s Convenience: Consider how the recipient will receive the money and choose a service that provides the most convenient pick-up options.

Customer Reviews: Check reviews and feedback from other users to gauge reliability and customer satisfaction.

Conclusion

The best way to send money to Bangladesh from Canada depends on your specific needs, including how fast you need the money to arrive, how much you are sending, and the convenience for your recipient. For those looking for speed, low fees, competitive exchange rates, and convenience, RemitBee offers an outstanding service tailored to Canadians sending money to Bangladesh. With its user-friendly platform and commitment to customer satisfaction, RemitBee simplifies international money transfers, making it easier than ever to support loved ones overseas. Sign up here.