How to send business payments to Bangladesh

How to make business payments to Bangladesh

If you’re a small business owner or entrepreneur looking for overseas freelancers, Bangladesh is home to millions of skilled professionals. From seamstresses to coders, hiring a freelancer in Bangladesh is usually more cost-effective than finding someone locally. 

Bangladesh is also a fantastic place to source products. In 2020 alone, Bangladeshi exports totalled just under $38 billion. This monumental figure was boosted by exports such as:  

  • Readymade clothing. 
  • Footwear.
  • Seafood.
  • Tea.
  • Animal fat and oils.

As the demand for goods and services increases, so does the need for reliable payments services to Bangladesh. Thankfully, Azimo Business can help you save money, hassle and time. 

Want to know how Azimo Business works? No worries. Our handy guide will tell you more, including how to register and check exchange rates.   

1. Pay a low fee on business transfers to Bangladesh

Fees are just one part of a money transfer. Low or zero fees combined with a fair exchange rate usually means you’re getting a great deal. You can always expect a low, transparent fee and fair exchange rate on business payments to Bangladesh. What’s more, you can:

  • Save up to 75% compared to banks and other providers

If you send at least one payment per month, your business can save around £1,000 per year.

  • Make speedy business transfers

Send instant transfers to suppliers in over 70 countries, including Bangladesh.

  • Send payments from your office or on the move 

Our award-winning app and website let you transfer money from the palm of your hand.

*SWIFT and some bank transfers can take between two and 24 hours.

Hire the best talent for your projects with our guide to finding freelancers overseas. Get tips on joining freelance communities, making direct approaches, using search engines and more.

2. Get a business exchange rate alert for Bangladeshi taka

About to make a large international business payment? Register with Azimo’s business exchange rate alert and get the rate you want.  

For instance, if you’re making a large business purchase, you can choose your preferred exchange rate. So, whenever the rate reaches this point, you’ll get an alert. That way, you can save time and get more Bangladeshi taka for your money. 

After that, you can simply register with Azimo Business or log in to your account to proceed with your transfer.

Did you know? Using your left hand to give or receive gifts or shake hands is considered rude in Bangladesh. While this tradition seems harsh on left-handers, it dates back to the Middle Ages and is still prevalent today. 

Looking for advice on paying overseas freelancers? Our guide to paying freelancers will help. Learn how to agree on Ts&Cs, use freelance platforms and more.   

3. Use a price comparison tool

Imagine if you could compare the real costs of sending business payments to Bangladesh. Well, you can with the Azimo Business price comparison page. You’ll see how leading banks and other providers compare in terms of transfer fees, exchange rates and commission, i.e. the actual price you’ll pay. Often, you’ll find that banks and traditional providers use low fees to mask poor exchange rates and sky-high commissions.

Top tip: With many companies in Bangladesh operating reduced hours during Ramadan, you should adjust your business plans accordingly. 

4. Choose from a range of currencies and delivery options

When you send payments to Bangladesh with Azimo Business, you can do so via bank deposit, cash pick-up or SWIFT. Even better, you can send and convert over 60 currencies to euros, US dollars or Bangladeshi taka (BDT). 

Before setting up your transfer, you’ll need your recipient’s:

  • Company name.
  • Registered company address.
  • Bank account number.
  • Account SWIFT-BIC number (SWIFT and bank deposits only).
  • Mobile phone number (Cash pick-up only) 

For more general information about sending corporate payments, visit our guide to your first Azimo Business transfer.