bKash’s remittance service is gaining widespread popularity among expatriates as it offers a convenient, instant, secure and legal way to send remittances to their loved ones back home.
In August of this year, expatriates utilised MFS to send remittances worth over Tk 11 billion, surpassing the highest monthly remittance recorded in the past five years. bKash accounted for a substantial portion of this impressive figure.
Remittances sent through bKash in August of this year saw a significant 110% increase compared to the same month last year. This surge has had a notable impact on the overall remittance inflow into the country.
As a vital lifeline for the country’s economy, these hard-earned remittances from expatriates are boosting the country’s foreign exchange reserves and contributing to macroeconomic stability. To facilitate this, bKash has created a robust ecosystem for expatriates to send remittances. Currently, expatriates from over 130 countries can send remittances through more than a hundred international Money Transfer Operators (MTOs), which are settled instantly in the recipient’s bKash account through 25 leading commercial banks in the country.
Remittance through bKash can be sent and accessed anytime anywhere. Families of the expatriates can utilise remittance to take various services through their bKash accounts, including paying for goods and services, utility bills, send money, mobile recharges, educational and government fees, donations and many other services from the comfort of their homes.
In addition to offering convenient, instant and secure remittance transfers, bKash has lowered cash-out fees. Beneficiaries can now withdraw remittances at a minimal cost of Tk 7 per thousand from approximately 2,500 ATMs of 19 leading commercial banks. Furthermore, as part of its ongoing efforts to encourage expatriates to send remittances through legal channels, bKash frequently introduces attractive offers.
