Send money from Canada to Bangladesh
See today's live rates — and exactly what your recipient receives, after every fee.
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Today's best rates to Bangladesh
As of 27 July 2026, sending £1,000 to Bangladesh, your recipient gets the most with Wise: 86,353.38 BDT, the best of 2 providers compared.
| Provider | Rate | Fee | Recipient gets | Speed | |
|---|---|---|---|---|---|
87.426 0.29% worse | £12.27 | 86,353.38 BDT | Within 2 days | Send | |
85.523 2.46% worse | £33.90 | 82,624.06 BDT | Minutes to days | Send |
When you send money home to Bangladesh, the cheapest route is almost always a specialist money-transfer app or company rather than your bank. The cost that matters most is hidden in the exchange rate: a bank typically keeps 2% to 4% in the rate, on top of any fee — so always judge a provider by the amount that actually arrives, not by a "no fee" claim. Below is exactly how the money reaches Bangladesh, what it really costs, and how to sidestep the most expensive mistakes.
Canada is home to a sizeable and fast-growing Bangladeshi community — the 2021 Census counted 75,425 people of Bangladeshi origin, while the High Commission in Ottawa and Global Affairs Canada put the real figure above 100,000.
Nearly half live in the Greater Toronto Area, with the Danforth Avenue neighbourhoods a long-standing cultural hub, alongside communities in Greater Vancouver, Montreal, Calgary, Edmonton and the Prairies, and a strong professional and student make-up.
That makes the Canadian-dollar-to-taka route a busy, competitive corridor — and on most amounts the exchange-rate margin matters far more than any headline fee: a 0.5% difference in the rate on C$1,000 is roughly C$5 of taka, usually more than the fee gap between providers.
Because you are sending Canadian dollars, the cheapest options here are the providers that genuinely serve Canadian senders — Wise, Instarem and Western Union — not the UK-only banks and brokers.
Sending from Canada: what you need
Sending from Canada is quick once you know what your recipient's bank or mobile wallet in Bangladesh needs and how to fund the transfer in Canadian dollars. The first transfer takes a few minutes to set up; later ones are near-instant.
Compare on the taka that actually arrive
Use the live comparison above. It shows only providers that serve Canadian (Canadian-dollar) senders, ranked by how many taka land in Bangladesh after both the exchange-rate margin and any fee — the only number that matters.
Get your recipient's bank details or bKash number
Bangladesh does not use an IBAN.
For a bank deposit you need the recipient's full legal name as it appears on the account, their bank name and their local account number; the money is delivered over BEFTN, the interbank network, and banks such as Islami Bank, Agrani Bank, Sonali Bank and BRAC Bank can receive it.
A faster and very popular alternative is a mobile wallet such as bKash or Nagad — for those you typically need the recipient's full name and the mobile number tied to the wallet, and the taka usually arrive in minutes. Confirm the details with your recipient before you start.
Verify your identity once
A Canada-resident sender verifies identity on first use to meet anti-money-laundering (KYC) rules — typically a government-issued photo ID such as a driver's licence or passport, plus your name, address and date of birth.
It takes a few minutes and is a one-off; you may also be asked to state the purpose of the transfer, such as family support.
Fund the transfer in Canadian dollars and send
Pay from your Canadian bank account by Interac e-Transfer or electronic funds transfer (EFT), or by debit card, which is usually near-instant.
Avoid funding with a credit card — most issuers treat a money transfer as a cash advance, which adds a fee plus interest from the moment of the transaction with no interest-free grace period.
Transfers to a bKash or Nagad wallet typically arrive in minutes; you will get a confirmation by email or app.
Funding the transfer from Canada by Interac e-Transfer or electronic funds transfer (EFT) from your bank account is normally the cheapest route; a Canadian debit card is usually near-instant.
Avoid a credit card — most issuers treat a money transfer as a cash advance and add a fee plus interest immediately, with no grace period. There is no Canadian tax simply for sending money abroad: Canada has no gift tax, so money sent as a gift or for family support is not taxed on the amount sent.
One admin point to note, not a tax or a limit: Canadian financial institutions must report any single international electronic funds transfer of C$10,000 or more to FINTRAC, the federal anti-money-laundering centre. The provider or bank handles that filing, not you, and it does not trigger any tax. This is general information, not tax advice.
How the money reaches Bangladesh
How your recipient gets paid
Bangladesh does NOT use an IBAN. You need the account number and the bank's 9-digit routing number — or, for a mobile wallet, simply the bKash or Nagad phone number.
How the money is delivered
Once your pounds are converted, the money is delivered locally inside Bangladesh. You don't choose the network — the provider does — but here is what is used.
Ways your recipient can receive it
Most providers can pay into a bank account, mobile wallet (bKash, Nagad, Rocket) or cash pickup. The right choice is usually whichever is cheapest and fastest for your recipient. Cash pickup is the fallback where a bank account or wallet isn't available.
What you actually pay to send money to Bangladesh
The taka does not trade freely — Bangladesh Bank steers it — so the day-to-day rate barely lurches the way a free-floating currency would. That puts two things in the spotlight: the margin your provider quietly adds to the rate, and the government's 2.5% incentive, which only the legal channel pays.
The exchange-rate mark-up
The big one. Banks and some apps quote a rate a little worse than the real mid-market rate and keep the difference — often 2% to 4%. Because it is a slice of the whole amount, it usually dwarfs any upfront fee.
Correspondent-bank fees
An ordinary bank wire can pass through one or two intermediary banks, each able to take a small cut before the money arrives. Specialists using local payment networks usually avoid this entirely.
"No fee" hiding a poor rate
A headline "zero fee" means little if the rate is weak. Judge an offer by the money that actually arrives, not by whether a fee is shown — the comparison above ranks providers exactly that way.
The 2.5% incentive makes the legal channel beat the kerb rate
A hundi agent often dangles a slightly better exchange rate than a bank or app. But money sent through a legal channel earns the government's 2.5% cash incentive, credited automatically on top — and stays tax-free.
Once you add that 2.5% back, the legal route almost always delivers more taka than the informal one. Judge providers on the taka actually credited, incentive included, not on the headline rate.
A steered currency hides the cost in the spread
Bangladesh Bank manages the taka rather than letting it float, so the mid-market rate moves only slowly. The catch: when the market sits still, nearly all the gap between a cheap transfer and a dear one is the margin your provider buries in the rate.
The official and kerb rates have converged lately, which has narrowed the old hundi temptation — but the spread is still where your money leaks.
How you pay from the UK changes the cost
Funding the transfer from the UK by bank transfer is free and clears in one to two working days; a debit card is usually free and instant. Avoid a credit card — most UK card issuers treat a money transfer as a cash advance and add around 2–3% plus interest from day one.
You verify your identity just once on first use — a UK address proof plus photo ID — which takes a few minutes.
Watch correspondent-bank fees on larger sums
On bigger transfers — say over £5,000 — the way the money travels starts to matter. Sent by old-style SWIFT bank wire it can pass through one or two intermediary 'correspondent' banks, and each can take a slice before it lands, so the taka that arrives falls short of the quote.
The specialist providers in the table above mostly pay out through a local Bangladeshi bank partner — straight into the recipient's account by BEFTN, or into a bKash or Nagad wallet — which avoids those intermediary deductions.
The 2.5% incentive — and how hundi quietly loses it
The 2.5% incentive — and how hundi quietly loses it
Bangladesh pays a 2.5% government cash bonus on money sent home through a bank or licensed transfer company: send the equivalent of ৳100,000 and your family receives an extra ৳2,500, credited automatically by the receiving bank or wallet.
It applies to bank accounts AND mobile wallets like bKash and Nagad, with no paperwork up to ৳500,000 per recipient a year. The catch: it only applies to LEGAL channels.
An informal "hundi" agent offering a better street rate strips out the 2.5%, the tax-free status, and any protection — so the apparent saving is usually a loss.
How to avoid fraud when sending money to Bangladesh
On any large transfer the biggest risk is rarely the exchange rate — it is criminals getting between you and the money. These simple rules are worth knowing before you send.
bKash / Nagad OTP scam
Rule: you never share a one-time PIN or OTP to RECEIVE money. Anyone phoning to ask for your bKash/Nagad PIN to "confirm" a remittance is trying to empty your wallet, not fund it.
Hundi / informal-agent scam
Rule: send only through a bank, licensed exchange house or money-transfer app. A hundi agent's better rate costs you the 2.5% government incentive, the tax-free status and all protection — and using hundi is itself an offence.
"Wrong transfer, please refund" scam
Rule: if you must return money, make a fresh transfer yourself to details you trust — never use a reversal link, refund button or payment request the other person sends you.
Fake bank / incentive-release call
Rule: no bank phones to demand a fee to "release" your remittance or its 2.5% incentive. The incentive is added automatically and free. End the call and report it to Bangladesh Bank's complaint line.
If you are a victim of fraud, call Bangladesh Bank's Customers' Interest Protection Centre (CIPC) on 16236 or email bb.cipc@bb.org.bd.
Is money sent to Bangladesh taxed?
What the rules say
inward remittances are tax-free for the recipient — and the government adds a 2.5% cash incentive on money sent through legal channels
Keep your paperwork
On a large transfer the UK firm must run a source-of-funds check — that is a compliance step, not a tax. Keep evidence of where the money came from (a sale statement, pension or investment paperwork, or bank statements) and a big transfer moves through far more smoothly.
When is the best time to send money to Bangladesh?
For a one-off transfer the rate on the day is what counts — and it moves constantly. The aim is less about guessing the perfect moment and more about removing risk on payments you already know are coming. As a guide, once the money is sent instant to a mobile wallet (bKash, Nagad); same or next working day by bank transfer (BEFTN).
Demand spikes hard around the two Eids — Eid al-Fitr at the end of Ramadan, and Eid al-Adha roughly two months later — when families need cash for festival shopping and, at Eid al-Adha, to buy an animal for the qurbani sacrifice.
Operators know those windows and can quietly widen their margin into them, so line up a big send a week or two early rather than in the rush. The taka is a managed currency the central bank steers rather than lets float, so most of the cost you feel is the provider's spread, not the market moving.
Lock the rate for a known date. If a payment is weeks away, many specialists let you fix today's rate now (a forward contract), so a sudden market move can't blow a hole in your budget before the money is due.
Set a target with a rate alert. For flexible transfers, you can set the rate you want and be notified (or trade automatically) when the market reaches it — useful when you have time on your side and no fixed deadline.
The costliest mistakes when sending to Bangladesh
A handful of avoidable slips account for most of the money people lose. Each is easy to sidestep once you know to look.
Defaulting to your bank without comparing. The bank's rate mark-up usually costs far more than any fee, and it is easy to miss because it is built into the rate rather than shown separately.
Judging by the fee, not the amount delivered. A "no fee" offer can still be the worst deal if the rate is poor. Always compare on what actually arrives.
Mistyping the account or bank code. If the account details are wrong the transfer can bounce back after a delay, or reach the wrong account. Always check them against details your recipient sent in writing.
Trusting bank details that arrived by email. Payment-diversion fraud is a real risk — always confirm the receiving account by phone on a trusted number first.
Using an unregulated or cold-calling firm. Check the company on the FCA Register before you move any money, and never act on an out-of-the-blue offer.
Choosing hundi for a better rate and losing the 2.5% incentive. An informal hundi agent may dangle a better street rate, but the money never touches the banking system — so it forfeits the 2.5% government incentive, drops the tax-free status, and has no protection if it goes missing. Once you add the incentive back, a licensed bank, exchange house or app almost always lands more taka. Using hundi is also itself an offence in Bangladesh.
Mixing up a bKash or Nagad number with a bank account. A mobile-wallet payout goes to your recipient's bKash or Nagad phone number; a bank deposit needs their account number plus the bank's 9-digit routing number. They are not interchangeable. Picking the wrong payout type, or entering a wallet number where a bank account is expected, can bounce the transfer or send it to the wrong place. Confirm exactly how your recipient wants the money — wallet or bank — before you send.
How do most people send money to Bangladesh?
For most people sending money home, the simplest and cheapest route is a specialist money-transfer app or company paying straight into the recipient's bank account. Judge every provider by the amount that actually arrives — and confirm the receiving details before you send.
Frequently asked questions about sending money to Bangladesh
Yes. To encourage the use of formal, legal channels, the Government of Bangladesh pays a 2.5% cash incentive on remittances received through a licensed bank or money-transfer operator, added to the amount the beneficiary receives.
To be eligible the sender must be a Bangladeshi national, including those who hold foreign citizenship of Bangladeshi origin, and the transfer must go through an official channel.
Money moved through the informal 'hundi' system gets no incentive, is illegal and has no legal protection, so always use a regulated provider.
No. Canada has no gift tax, so a private individual sending money as a gift or for family support is not taxed on the amount sent. There is a reporting rule, but it is not a tax: a Canadian bank or money-transfer service must report any single international transfer of C$10,000 or more to FINTRAC.
The provider does this automatically and it does not create a tax bill. On the Bangladesh side, family remittances received from abroad are not taxable income for the recipient. This is general information, not tax advice.
It depends mostly on how the money is received. A transfer to a mobile wallet such as bKash or Nagad, or a cash pickup, is usually near-instant and often lands within minutes or the same day.
A bank deposit over BEFTN can take up to one working day to arrive after the provider has processed the payment. Old-style SWIFT bank wires are slower and can be reduced by intermediary or correspondent-bank fees that are not always clear up front.
For a bank deposit, your recipient gives you their full legal name as it appears on the account, their bank name and their local account number — Bangladesh does not use an IBAN.
For a mobile wallet such as bKash or Nagad, you typically need their full name and the mobile number registered to the wallet, which acts as the account identifier. Mobile-wallet deposits are usually the fastest, often arriving in minutes.
No. Bangladesh does not use IBANs. For a bank deposit you need the recipient's account number and their bank's 9-digit routing number; for a mobile wallet you only need their bKash or Nagad phone number. For the international leg, the bank's SWIFT/BIC is used.
It is a cash bonus the Bangladesh government adds to money sent home through legal channels — banks or licensed transfer companies. The recipient gets an extra 2.5% on top, credited automatically, with no paperwork up to ৳500,000 per person a year.
It applies to bank accounts and to mobile wallets such as bKash and Nagad.
Almost always a specialist money-transfer company rather than your bank, and always a LEGAL channel so the 2.5% incentive is added.
Compare providers by the amount that actually arrives in taka — counting the exchange rate, any fee and the 2.5% bonus — rather than by a street rate an informal agent quotes. See the live comparison above.
No. Inward remittances are tax-free for the recipient, and the 2.5% government incentive is added on top rather than deducted. This is general information, not tax advice.
Yes. Many providers pay straight into a bKash or Nagad wallet, it usually arrives within seconds, and it still earns the 2.5% incentive when sent through a registered channel.
A bank account works the same way; cash pickup is the fallback where neither is available.
To a mobile wallet it is usually instant. A bank transfer through BEFTN typically lands the same or next working day, while RTGS handles large amounts in real time.
The slower part is normally the checks on the sending side before the money leaves.
A hundi agent may quote a better street rate, but the money bypasses the banking system, so it loses the 2.5% government incentive and the tax-free status, has no protection if it goes missing, and using hundi is itself an offence.
A licensed transfer is almost always better value once the incentive is counted.
There is no UK legal cap on personal transfers. Each provider sets its own limit — Wise allows £1m+ once you are fully verified, while others range from about £10,000 to £50,000 per transfer.
Bangladesh puts no limit on personal home remittances received through the banking channel; the 2.5% government incentive is paperwork-free up to ৳500,000 per recipient a year, but that is an incentive threshold, not a cap on what you can send.
No. Sending money abroad from the UK is not a reportable tax event, and there is no UK gift tax. If the money is income you have already paid tax on, or a personal gift, there is nothing to declare.
For large transfers it is worth keeping a note of where the money came from, in case your own UK bank asks.
The transfer will usually fail or be delayed rather than vanish. For a bank deposit, double-check the account number and the bank's 9-digit routing number; for a mobile wallet, check the bKash or Nagad phone number.
Most providers can recall a misdirected payment, though it can take two to five working days to come back. Always confirm every detail with your recipient — and whether they want a bank account or a wallet — before you submit.
Our sources & how we keep this current
Last updated: June 2026. The live rates above refresh automatically, and we review the rest of this guide every month — updating it whenever the rules on payments, tax or regulation change.