Foreign Exchange Guide to Bangladesh
In this guide we review :
- Bangladeshi Taka info - general info about the Bangladeshi Taka
- Travelling in Bangladesh - currency & money saving tips
- Buying Bangladeshi Taka cash online - travel money for Bangladesh
- Sending money to Bangladesh - save on Bangladeshi Taka bank transfers to Bangladesh
- Bangladeshi Taka exchange rates - latest info & charts.
Bangladeshi Taka (BDT) general currency information
Bangladesh currency and money saving tips
Bangladesh has the eighth largest population in the world, the official Bengali language is the tenth-most spoken language in the world, which Bangladesh shares with the neighboring Indian states of West Bengal and Tripura. The Taka (BDT) is the official currency and is set by market forces.Until recently even exchange outlest would only change into Taka (BDT), but as the economy expands this has improved and so many other popular currencies are now accepted.
Citizens of most countries require a passport to gain entry so be sure to check on this before leaving. There are plenty of options for getting around while you are there, however long distance transport can be very busy so it can help to book ahead when possible.Try to have a time buffer as when transport gets very busy some timetables can be unreliable. Bus is a popluar way to get around and is often cheap, but of also very crowded. Bangladesh has thousands of inland waterways so hiring a boat to get from one village to another is common practice and could make for a nice change of pace.
Bangladesh Trip Checklist
Travel money for Bangladesh
Save money and time by Ordering your Bangladeshi Taka online from Travelex, you get better rates and can pick up the BDT cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Bangladeshi Taka otherwise you may get much worst exchange rates.
Sending money to Bangladesh
When sending money to Bangladesh it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Bangladeshi Taka amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted BDT amount will be transfered to the recipient account you specify in Bangladesh.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Bangladeshi Taka deposited into the recipient bank account in Bangladesh and less margins and fees kept by the banks!