Cheapest ways to send money to Bangladesh from the US

Supporting your family in Bangladesh shouldn't come with high fees. Finding more affordable ways to send money to Bangladesh from the US helps you maximize how much of your cash actually reaches your loved ones.

With so many transfer options available, choosing the right service makes a significant difference in what your family receives. Let’s explore a few affordable methods that balance low costs with reliability when sending money from the USA to Bangladesh.

Key factors that affect transfer costs

When you're looking at US to Bangladesh money transfer options, three main factors determine your total cost:

• Transfer fees - upfront charges 

• Exchange rate margins - show the difference between market rates and what you actually get

• Delivery speed - may affect pricing

Some providers advertise low transfer fees but make money through less favorable exchange rates. Others charge higher upfront costs but offer better currency conversion rates for your money transfer.

Five affordable methods for US to Bangladesh cash transfers

1. Digital app providers

Mobile apps designed for diaspora communities focus on making money transfer from the US to Bangladesh simple and affordable. These platforms typically offer competitive exchange rates and low transfer fees, making them an accessible option for supporting your loved ones.

Apps like Sendwave let you send money in just a few taps from your phone. The user experience prioritizes speed and convenience for people who regularly support family abroad.

2. Online money transfer platforms

Web-based services allow you to compare costs before committing to your transfer. Many offer promotional rates for new users or volume discounts for larger amounts.

These platforms typically provide multiple payout options when you send money to Bangladesh:

• Bank deposits: direct transfers to recipient bank accounts

• Mobile app transfers: payments from apps like Sendwave , bKash mobile wallets or bank accounts with zero fees.

• Cash pickup: collection from designated locations

The Sendwave Wallet is the all-in-one Wallet within the Sendwave app that allows you to manage remittances and support loved ones with more value and control. Wallet is currently available for senders from the US.

3. Bank-to-bank transfers

Traditional banks offer the security of established financial institutions but often charge higher fees for money transfer to Bangladesh from the United States. Some banks have partnerships with Bangladeshi institutions that can reduce costs.

Wire transfers through banks are reliable but typically slower and more expensive than digital alternatives. Check if your bank offers special rates for regular international transfers.

4. Credit or debit card transfers

Using your card for international transfers offers convenience but may include additional charges from your card issuer. Some credit card companies treat these transactions as cash advances, which carry higher interest rates.

Check with your bank about international transaction fees before choosing this method for sending money to Bangladesh.

5.  Digital wallet solutions

Digital wallets are increasingly popular making them a convenient option when you send money in Bangladesh. 

For senders in the U.S., Sendwave Wallet offers a modern digital wallet solution that makes managing your international transfers to Bangladesh even easier. You can fund your wallet and send money to loved ones in seconds, while your recipients enjoy the convenience of receiving funds directly to their mobile wallets.

Unlike the standard Sendwave app, the Sendwave wallet allows you to unlock better rates or cashback.  

Steps to compare fees and exchange rates

Start by checking the total cost of your transfer, not just the advertised fee. Look at both the upfront charge and the exchange rate compared to the current USD to BDT market rate.

Calculate the real cost by adding transfer fees to the amount lost through exchange rate margins. This gives you a clearer comparison between different services for how to send money to Bangladesh from the US.

Providers show you the exact amount your recipient will receive before you confirm the transfer. Use this information to decide on a good method to send money to Bangladesh.

Compare rates to send money from Bangladesh (৳) to the United States ($) >

Four simple steps to send money affordably

1. Choose a trusted service

Look for providers licensed to operate in both the US and Bangladesh. Read reviews from other users and verify that the company offers customer support when you need help.

Check that the service is regulated by appropriate financial authorities like the Consumer Financial Protection Bureau in the US.

2. Gather recipient details

Collect accurate information for your chosen payout method. Double-check spelling of names and account numbers to avoid delays or failed transfers.

Required details typically include:

• Bank transfers: account number, routing code, recipient name

• Mobile wallets: phone number, wallet provider, recipient name

• Cash pickup: recipient name, pickup location, identification requirements

3. Review all costs and timelines

Before confirming your transfer, review the total fees, exchange rate and expected delivery time. Save transaction details for your records and make sure you understand when your recipient should expect the funds.

4. Confirm and track your transfer

Complete your transfer and save the confirmation number. Many services offer tracking features that let you monitor the progress of your money transfer to Bangladesh from the US.

Share tracking information with your recipient so they know when to expect the money.

Balancing safety and speed

Secure money transfer services use encryption and identity verification to protect your transactions. While faster transfers are convenient, they often cost more than standard delivery options that take 1-3 business days.

Consider whether your recipient needs the money urgently or if you can save money with a slower transfer. Legitimate providers will ask for documentation to comply with anti-money laundering regulations.

Look for services that require identity verification and use secure payment methods. This protects both you and your recipient during the transfer process.

Moving forward

Comparing transfer costs helps you keep more money in your family's hands instead of paying unnecessary fees. Different services work better for different needs, whether you prioritize speed, cost, or convenience for how to transfer money from the US to Bangladesh.

Sendwave offers a mobile-first approach designed specifically for diaspora communities, with competitive rates and user-friendly features. We believe in being in our customers' corner, which is why we focus on making international transfers simple and affordable.

Download the app to explore how Sendwave can help you stay connected with your loved ones in Bangladesh.