Bangladesh knows a thing or two about pleasant surprises. As a national of this country, you may benefit from the Bangladesh remittance incentive and gift an extra 2.5% of the amount credited from abroad to the local recipient. Explore the Bangladesh remittance incentive with us in this article.
Cash incentive meaning explained
Remittance incentive in Bangladesh: how it works
Who is eligible for the remittance incentive in Bangladesh
Limits of the Bangladesh remittance bonus
Business VS personal remittance in Bangladesh
Which banks offer the Bangladesh remittance bonus
Waiting times
Foreign remittance in Bangladesh with Profee
How to send money to Bangladesh: Step-by-step
FAQ — Bangladesh remittance incentive
Cash incentive meaning explained
Cash incentive meaning: it’s the money an organisation or government gives you when they want you to behave in a certain way. Simply put, the authorities say, "Please, do as we say and receive a financial bonus for that". Now, let’s dive into the specifics of the remittance bonus in Bangladesh.
Remittance incentive in Bangladesh: how it works
The government has introduced the remittance incentive in Bangladesh, because it wanted to increase the amount of legal remittances from abroad. So, if you’re living outside of the country, an extra 2.5% to your recipient sounds more than real.
Bangladesh remittance incentive in a nutshell:
- Send remittance in Bangladesh from abroad.
- Use legal ways to do it — approved banks, licensed services.
- 2.5% of the total amount is added automatically to the recipient’s account in BDT.
- Pairs with cash pickups, wallets, banks and online mobile transfers.
- Banks are in charge of the bonus, not the service you used to send funds.
In Bangladesh, remittance bonus is a simple way to gain extra income. Yes, 2.5% is not a lot, but with each small transfer the total amount will grow and your family will be grateful. Use legal ways and let your loved ones benefit from that.
Who is eligible for the remittance incentive in Bangladesh
Only the nationals of Bangladesh can receive the online money or cash incentive. Here is the portrait of the person for whom the remittance bonus in Bangladesh was designed:
- Currently lives abroad;
- Is employed;
- Is being paid by a private company, not by the government, a statutory body, or an autonomous/semi-autonomous organisation.
Exceptions: Mariners and pilots working for Bangladeshi shipping lines or airlines overseas, or those working with the UN, international organisations, or foreign embassies in different countries around the world. They are also eligible for the remittance bonus in Bangladesh.
- Is a Bangladeshi national or has “his or her origin in Bangladesh but for any reason has assumed foreign nationality”.
- Sends remittance in Bangladesh to a citizen.
Check your eligibility for an incentive. If you fit this description, congratulations, extra 2.5% of remittance in Bangladesh are closer and closer. Note again that only the receiver gets the bonus, not the sender.
Limits of the Bangladesh remittance bonus
There is no limit for the foreign remittance in Bangladesh and the amount of bonus to be received. However, if you send more than 1000-3500 EUR (there is no official data, but banks tend to do so) the bank may request some documents to prove your identity as a source of income. Other than that, you can send as much money as you wish.
For example, your remittance in Bangladesh is 1000 EUR, so no documents will probably be needed, and your recipient will get 1025 EUR! A whole lunch in a nice European restaurant just landed on the recipient’s account for free. Or they can spend these 25 EUR on toys for your kids, pretty clothes for your wife or new dishes for your mother.
Business VS personal remittance in Bangladesh
Only personal transactions count for the Bangladesh remittance incentive. What it means for you:
The sender and receiver’s accounts should be personal, not business or corporate. The money is sent for personal use, not to cover business expenses.
The safest way is to send money from your personal card to your family members' accounts/wallets. In this case, you should receive online money or cash incentive in Bangladesh without any challenges.
Which banks offer the Bangladesh remittance bonus
Many financial institutions do participate in this programme. Among them:
- Doha Bank,
- Rupali Bank,
- United Commercial Bank (UCB)
- Sonali,
- Agrani,
- Janata,
- Rupali and others.
Check your bank’s website to clarify.
Waiting times
In Bangladesh, remittance incentive is paid off 1-3 days after the money was received. It’s a normal waiting time, so don’t panic if the bonus wasn’t added to your recipient's account right away.
These articles may be helpful for you as an expat:
Foreign remittance in Bangladesh with Profee
To get the Bangladesh remittance incentive, use Profee for transfers from Europe.
Profee makes foreign remittance in Bangladesh accessible and beneficial, so you can save your energy and hard-earned money.
Taking care of your funds
With an unmatched remittance rate in Bangladesh and little to no fees, Profee makes sure your wallet stays full. There will be no hidden fees. So, what you see on the app or website calculator widget is what your loved one will get. Don’t forget to add the 2.5% bonus, though!
Secure to the core
Profee is a licensed service that undergoes yearly check-ups, follows PCI DSS standards and uses end-to-end data encryption. Profee was built with safety in mind, so your data and funds are safeguarded at every step of the transfer. More than 800,000 expats have already seen it for themselves.
In case you need a helping hand, customer support is available via help@profee.com.
Everything for your comfort
You can send money from home, office or anywhere else because all you need is a phone and access to the Internet. Go to the web or open the Profee app and follow the instructions on the interface. It’s all clear like 2+2, you’ll easily navigate the process.
Speed
You'll sign up and register in several minutes, faster than your toast will be ready. As for the transfers, the funds arrive instantly or in a day or two, depending on what you send. After that, all that's left is to wait for your transfer incentive — an expatriate remittance reward.
The person in Bangladesh will absolutely enjoy it
First, they'll get an extra 2.5% on top of the transfer. Second, the funds arrive automatically. They can stay right where they are—at home, at work, or even on the go — and still receive their funds without interruption. There's no need to rearrange their schedule or take time off to collect the money. It's convenient, quick, and fits easily into everyday life.
How to send money to Bangladesh: Step-by-step
Sending money to Bangladesh is easy with Profee, follow these steps:
- Go to profee.com or download the app and sign up to start your Profee Bangladesh transfers.
- Pick countries.
- Insert the amount of your money transfer to BDT. You can do it in your local currency, too, as the calculator will convert it and show you the remittance rate in Bangladesh.
- Choose how to pay.
- Type in what’s needed for the recipient. The interface will tell you what to write to avoid confusion.
- Double-check and approve.
Once confirmed, the money is on its way. Wait a little bit and in a couple of days your recipient will get the government remittance bonus.
In reality, it’s all easier than you may have thought. Try sending money to Bangladesh today.
FAQ — Bangladesh remittance incentive
This is a quick question-quick answer section to go through everything we shared about the BDT transfer incentive.
What is the incentive for remittances to Bangladesh?
It’s an official BDT incentive programme to increase the money flow from abroad to Bangladesh.
Who is eligible to receive the remittance bonus?
Bangladesh citizens who recieve transfers from other Bangladesh citizens working abroad. There are some exceptions in the Bangladesh remittance scheme we discussed above.
How much is the incentive for each remittance?
The amount of the bonus of sending money back home is 2,5% of the total funds delivered. Therefore, calculating ‘how much is remittance bonus’ will depend on your initial transfer amount.
Do I need to apply or submit any documents to get the bonus?
No, you don’t need to. It’s an automatic process run by banks. However, they may request documents if you send more than 1000-3500 EUR (depending on the bank and your situation).
How long does it take to receive the incentive?
1-3 working days.
Can I get the bonus when sending money through online apps?
Yes, use Profee, so you recipient can get the remittance reward. However, check whether the bank you choose is participating in the programme.
Is there a limit on how much bonus I can receive?
No, there is no upper limit for the remittance bonus in Bangladesh.
How to claim a remittance bonus
It should be automatically credited to the recipient’s account. If not, contact the bank.
