Nagad launches remittance service
26 March 2023
Business Desk :
Nagad, a mobile financial service provider of Bangladesh Post Office, has added a new feature "remittance service" for expatriate Bangladeshis.
From now on, expatriate Bangladeshis would be able to remit money instantly and safely at low costs, which will help to shore up the country's forex reserves and help strengthen the financial industry, read a press release on Saturday.
With approval from the Bangladesh Bank, Nagad Limited on Thursday launched the much-awaited service.
A customer receiving remittances amounting to Tk 10,000 or more in their Nagad accounts will get Tk 100 as a cash bonus. Each customer will be eligible for a maximum of Tk 200 in bonus during the campaign period.
Family members of expatriate workers will no longer have to wait for working days to receive remittances, as Nagad's remittance service will be available anytime. So, anyone from any corner of the world can promptly send home remittances.
Expatriates can remit money to Bangladesh at a low cost from all European Union countries, including Italy, the United States, the United Kingdom, Canada, Qatar, Kuwait, Oman, United Arab Emirates, Saudi Arabia, Singapore and Japan.
Remittances can be sent via Nagad from these countries through partner exchange houses, money transfer operators or banks.
Initially, expatriates can immediately send remittances to Nagad wallets through partner exchange houses of Sonali Bank Limited PLC, Mutual Trust Bank Limited, NCC Bank Limited, Bank Asia Limited, Social Islami Bank Limited and Trust Bank Limited. Gradually, Nagad will expand its remittance services all over the world through all banks in the country. Speaking at the launch of the remittance service, Founder and Managing Director of Nagad Limited Tanvir A Mishuk said, "From the beginning, we've been working to make people's daily life easier. As part of it, today, we have added remittance to our people-centric services, which will enable our expatriates abroad to instantly send home money at a low cost."
