Bangladeshi migrants working in Singapore will now be able to easily transfer their hard-earned income to their families back home, with minimal expenses and in real-time using DBS Remitvia DBS digibank, DBS’ digital banking platform.
For remittances to Bangladesh, DBS Remit provides guaranteed exchange rates, has no service fee charges and ensures real-time automated deposits to BRAC Bank accounts, as well as any other bank account in Bangladesh.
BRAC Bank’s extensive network of 187 branches and more than 700 Agent Banking outlets also allows recipients in Bangladesh to easily collect the transfer in cash, if they prefer.
For remittances deposited to a BRAC Bank account, the bank’s customers can use Mobile App Astha to pay utilities, insurance and loan installations, credit card and phone bills as well as transfer funds to any bank account or mobile wallet in Bangladesh. They can also withdraw their cash at any ATM across the country.
More than 200,000 Bangladeshi migrants are currently working in Singapore. They send around USD$ 350 million to Bangladesh annually contributing significantly to national development. With DBS Remit, automated, affordable and real-time digital remittance facilities are now available to them, so they can remit funds to Bangladesh anytime, anywhere.
Rhidoi Krishnakumar, Regional Head of DBS Remit, “We are very pleased to partner BRAC Bank to enhance our DBS Remit capabilities and provide more accessible, affordable and secure remittances for our customers. We also look forward to enabling remittances to bKash wallet by the end of this year.”
“Inward foreign remittance is one of the backbones of our economy, and we’re always working hard to facilitate its continuous growth. We joined hands with DBS Bank because they, like us, offer their customers the best service experience. We look forward to expand our partnership scopes with DBS in future,” said Selim R.F. Hussain, MD & CEO of BRAC Bank.
To facilitate wage earners’ remittance inflow to the country, BRAC Bank maintains a network of 60+ partnerships with leading exchange houses and banks around the globe.
