Expats sending remittance through bKash on the occasion of Eid

Expatriates are sending remittances to their loved ones’ bKash accounts in the country in real time using online, internet or mobile wallet via banking channel.

As a result, on the occasion of the holy Eid-ul-Fitr, the amount of remittances received through bKash has increased at a significant rate. Compared to April 2021, remittances through bKash in April of this year have almost been doubled, according to a statement.

In addition, receivers can Cash Out the money at any time from any nearby agent point instead of going to the bank and thus, save the cost of traveling and time as well.

Currently, expatriates from more than 70 countries are getting the opportunity to send remittances safely to more than 60 million bKash accounts through 67 money transfer organizations (MTO) by online or wallet transfer via settlement in 12 commercial banks of the country.

The widespread network of bKash across the country is ensuring uninterrupted services to the doorsteps of the customers. The use of bKash as a means of receiving remittances as a last-mile-solution is therefore increasing day by day. At this moment, a customer can receive remittances up to Tk 1.25 lakh per day and up to Tk 4.5 lakh per month in a bKash account.

To encourage migrants to use proper channels to send money home, the government has increased cash incentive on remittance to 2.5 percent from 2 percent. bKash disburses the remittance with govt. incentive in real time. This plays a significant role in motivating senders to send remittances via legal channel.