Monday, August 27, 2012

Money Transfer from Bangladesh

How to Send Money from Bangladesh?
Money Transfer from Bangladesh to abroad is a serious problem. You can only receive money from abroad but you cannot send money to abroad. This is really annoying banking policy in Bangladesh.  IME, Express money, Merchantrade, Turbo cash, Cash express, Placid express and Western Union are the most popular money transfer methods in Bangladesh. But those are only for receive money. You cannot send money through those methods.

I travelled few neighboring countries but I did not see this kind of strict law about money transfer. If you need to send money from Bangladesh on urgent basis to your relative who is living in abroad you will be oppressed by your bank. You will be diverted by your bank to Bangladesh Bank(BB) to take permission. You have to submit so so documents to BB. So, instantly you cannot send money to abroad. You have to wait few days to collect those documents. This is really crazy  in Bangladeshi Banking system.

Once I was living in Malaysia. For emergency need my relative went  to many private banks in Bangladesh to send money to me but they failed. Finally I received money through hoondy. Though it is illegal but many people are using this process due to sound strickness of banking policy. This type of banking systems in Bangladesh really frustrates you. This is one of the bad sites of present Governments policy of Bangladesh. So, it is a question to many of us HOW TO SEND MONEY FROM BANGLADESH?

We appreciate government’s policy in this regard about strictness to send money to abroad. It is good step for stopping illegal money laundering business, drug traffickers and illegal arms importers. But at the same time Governments should think about common people. Every citizen is not connected with illegal money transfer business. So why all citizens will have to face unnecessary struggle and suffering to send money to their relative in abroad?

Another bad practice of all private banks is that they do not like to co-operate new clients for send  money to abroad. Once I went few banks to send money to abroad for my business purpose. I was denied by all of them even one of the top banks in Bangladesh  Dutch-Bangla Bank. They simply denied to help me and said you cannot send money. So, private banks in Bangladesh do not help to transfer money from Bangladehsh

On July 15, 2012 I went to talk with Mr Mizanur Rahman, first assistant vice president of  Duthch-Bangla bank  Foreign Exchange branch at Motijheel, Dhaka. He simply denied helping. He said you cannot send money through us.  If this is the service of one of the most popular banks what people can expect from other banks? 

I have gathered bitter experiences about banking service in Bangladesh on a specific issue. So, as a conscious citizen I will request all private bank’s management body to take care  about their clients demand and inconveniences. How their banks staff are serving their clients. They should review customer’s feedback about their service more importantly. Otherwise they will lose their clients.

Governments should also introduce method for common people to free and simple money transferring facilities. Government cannot do anything by applying force on  public. The Government has no right to introduce oppressing rule on calm and common people in banking system in Bangladesh.

Bangladesh is a developing country. For Education and for treatment purpose many Bangladeshis have to go abroad. Sometimes it is necessary to take money on urgent basis from their bank account. But due to BD Govt ‘s over strictness people have to go Bangladesh Bank  for permission.  It wastes few days to submit various documents before take permission to pass money from Bangladesh.

As a conscious citizen we will expect easier and the shortest way from respective authority to send money for real need in abroad. Without approval of Bangladesh Bank there should be any quick service system in private bank which will be helpful for Bangladeshi citizen to send money on emergency purpose. There should be easy system for Money transfer from Bangladesh.