The Bangladesh Post Office’s mobile financial service provider Nagad has introduced a new function that allows Bangladeshis living abroad to use Nagad to transfer money to their loved ones in Bangladesh.
Bangladeshis living abroad will be able to send money back home quickly, safely, and affordably, bolstering the nation’s foreign exchange reserves and the banking sector in the process.
Nagad Limited started the eagerly anticipated remittance services on Thursday with the blessing of the Bangladesh Bank. According to a press statement issued today, the MFS carrier has also launched a bonus program to promote remittance inflows through legal channels.
Customers will receive a cash bonus up to Taka 200 as part of the promotion, which will run until April 30 this year, in addition to the government incentive of Taka 25 per Taka 1,000 while they receive remittances in their Nagad wallets.
Customers who deposit transfers totaling at least Taka 10,000 into their Nagad accounts will receive a cash bonus of Taka 100. A bonus of up to Taka 200 will be available to each customer during the promotion.
As Nagad’s remittance services will be accessible 24/7, 365 days a year, family members of foreign employees won’t have to wait for working days to receive remittances.
As a result, anyone in the globe can quickly send money home.
All member nations of the European Union, including Italy, the United States, the United Kingdom, Canada, Qatar, Kuwait, Oman, the United Arab Emirates, Saudi Arabia, Singapore, and Japan, offer low-cost money transfers to Bangladesh for expatriates.
From these nations, remittances can be sent using Nagad through banks, money transfer companies, or associate exchange houses.
