Find a Cheaper Way to Send Money from Australia to Bangladesh

Sending money to Bangladesh from Australia can be easy if you use your local bank, but it could also be expensive. International money transfers can often come with hidden fees, exchange rates with hidden margins and bank charges.

Alternatively, you can head into a store to transfer your money in person using a service like Western Union or Moneygram. These services often offer a quick service, but may not be the cheapest way to send money to Bangladesh.

Online money transfer services can offer the best of both worlds. They offer a low cost way to transfer your cash without having to leave your house. Here are some of the best money transfer services in Australia:


Some of the best money transfer services to send money to Bangladesh from Australia


Remitly is an easy way to send money from Australia. They have a highly rated mobile app and accept credit and debit cards.

When sending cash to family or friends overseas, Remitly have an "Express" option which is faster but has higher fees. If you are not in a hurry, their "economy" service is only marginally slower but much cheaper.

How much does it cost to transfer funds to Bangladesh?

Transfer Fee: The fee for "Economy" is $3.99 but if you want the money sent faster, their "Express" fees are higher depending on your amount.
Exchange Rate: The exchange rate you receive depends on the amount of your transfer.

How long does it take?

It depends on which service you choose. It's faster with "Express" but you have to pay by card and the fees are higher. It's slower but cheaper with "Economy" when you pay by bank transfer.

Is Remitly safe?

Yes they are. They are fully licensed and authorised.

Best features:

  • No minimum amounts
  • In many destinations, the person you are paying can receive their money transfer by bank deposit, cash pick up or mobile money.
  • Money back guarantee if your money doesn't arrive on time

How it works

  • Log into the Remitly website.
  • When you're ready for payment, just type your name, card number, expiry date and card verification details.
  • Confirm your details.

Service details:

For help from Remitly email or call (02) 8607 8054 from within Australia

XE Money Transfers

As a trusted and seasoned name in foreign exchange, XE could be a good option for online users who aren't under time pressure. They don't charge fixed fees and don't have any minimum amounts so are good for any sized transaction.

How much does it cost?

Transfer Fee: Free, but there can be hidden charges at the local bank.
Exchange Rate: The AUD/BDT exchange rate you receive, when you convert your Australian dollars into Bangladeshi Taka, will depend on the amount of your transfer.

How long does it take?

Your recipient will get the money in Bangladeshi Taka into their account in 2-3 business days.

Is XE safe?

Yes they are. They are licensed as a Money Transmitter by the DFS in New York and registered with FINTRAC.

Best features:

  • No fees or minimum amounts for money transfers
  • Better exchange rates for larger amounts
  • Well known and trusted brand
  • Business and individual support, plus accessible customer service

How to transfer money with XE

Service details:

For help from XE click here or call  (02) 8270 4500 from within Australia


With InstaReM, individuals and businesses can make low-cost money transfers to 55+ countries. They don't charge a margin on the exchange rate and source their rates directly from Reuters. They are also one of the fastest ways of sending money overseas, particularly if you pay for your transfer using PayID.

How much does it cost?

Transfer Fee: Starting at $2.99 for very small amounts under $100, the fee increases depending on your transfer amount.
Exchange Rate: The AUD/BDT exchange rate you receive is the wholesale rate quoted on Reuters making it transparent and fair.

How long does it take?

It depends on how you pay InstaReM. Using PayID is the fastest and the money is usually sent within minutes. Using PoliPay or a bank transfer is slightly slower however the recipient should still receive their money within 1-2 business days.

Is it safe?

Being a global company, InstaReM is fully regulated in several countries including India, US, UK, Europe, Australia, Canada, Singapore, Malaysia and Hong Kong. For more information, read our full review of InstaReM here.

Best features:

  • No fees or minimum amounts for money transfers
  • Complete transparency and absolutely no hidden charges
  • InstaPoints - loyalty points to redeem against transactions

How to transfer money with InstaReM

  • Build your customer profile on InstaReM by filling in your personal details.
  • Upload your documents or opt for eKYC to get your account verified
  • Once your account is verified, input the recipient's bank details and make the transfer.
  • Learn more about how to transfer money with InstaReM in this step-by-step guide

Service details:

For help from InstaReM click here or call  (07) 3053 8888 from within Australia

Best Overall Online Service

Wise (formerly known as TransferWise)

If you prefer to transfer money online, Wise is one of the easiest ways to do it. It's incredibly simple to set up an account or make a transfer using their app. They also have the best exchange rates, because they offer the same market rate you see on XE or Google and don't add any hidden exchange rate mark ups.

How much does it cost?

Transfer Fee: 2.71 AUD + 0.71% of your amount.
Exchange Rate: Wise gives you the best possible rate (google rate). They do not use a margin.
Payment methods: Bank transfer, debit card and credit card.

How long does it take?

Your recipient will get the money in Bangladeshi Taka from Wise's local account by the same day.

Is Wise safe?

Yes they are. Click here to see our full review of Wise.

Best features:

  • Quick online set-up
  • Transparent fees and offer the best rates online
  • Very fast transfers to a bank account
  • Simple cell phone app

How to transfer money with Wise

Service details:

For Wise help online.


WorldRemit specialise in remittances and smaller transfers. They're perfect for personal money transfers from Australia up to AUD10,000 to Bangladesh. Their rates are usually better than Australian bank's like ANZ or Commonwealth Bank. They offer more flexible delivery options than companies like PayPal, Western Union or MoneyGram.

How much does it cost?

Transfer Fee: Starting from AUD3.99 for small amounts
Delivery: Bank transfer, Mobile Money, Cash Pickup or Airtime Top up
Maximum transfer amount: AUD50,000

How long does it take?

Most bank transfers are completed by the next working day. Cash Pickup and Mobile Money can be ready in a matter of minutes.

Is WorldRemit safe?

Yes they are. Learn more about how trustworthy WorldRemit are.

Best features:

  • Offers cash pick-up, bank deposits, Mobile Money and Airtime top-up in some countries
  • Easy online platform and cell phone app
  • Transparent costs with accurate calculator tool
  • 24/7 customer support

How to transfer money with WorldRemit

  • Enter how much you want to send overseas and your delivery method
  • Create an account by entering in your details
  • Make local payment to WorldRemit, using a bank transfer or your debit or credit card.


How do I transfer money from Australia to Bangladesh?

Send money from your bank account to another bank account in Bangladesh using these steps:

  1. Login to internet banking or head into a branch.
  2. Go to the international money transfers section.
  3. Enter the amount and currency of your transfer.
  4. Enter the recipient’s bank details.
  5. Confirm all the details, fees, amounts and reference before finalising the transaction.

If you don't want to use your bank, compare money transfer services, set up and account and follow the same steps 2 through 5.

Can I send money internationally without fees?

If you want to transfer money overseas without a fee, you'll have to avoid banks. Each bank charge flat fees to send money abroad and add a margin to the exchange rate.

If you want to use a money transfer service, you will either be charged an upfront fee, an exchange rate margin or both.

Some money transfer companies like TorFX don't charge a fee but still add a margin to the exchange rate. Other services like XE or OFX, charge a small fee for smaller amounts but allow fee free transfers for larger transactions.

Alternatively, services like Wise or InstaReM don't charge any hidden fees in the exchange rate but charge an upfront fee.

What information do I need to send money to a Bangladeshi bank account from Australia?

To transfer money from Australia, you will need the following information about the recipient's account:

  • The account name of the person or business you are paying. Sometimes you'll need their address too.
  • An account number.
  • Swift / BIC code or Routing Number.

In Europe, they use an IBAN number. It is very long, contains letters and numbers and is a combination of the bank code and the account number. In Australia, the routing number is called a BSB.

What's the cheapest way to send money internationally?

The cheapest ways to send money overseas are usually online, have low fees and exchange rates close to the real exchange rate that you see on Google or XE.

To work it out, you need to calculate the total cost of your transfer including all the fees. Alternatively, if you are sending money in Australian dollars, the cheapest option is the the one that gives you (or the person you are paying) the most in their home currency.

Can I use an app to send money overseas from Australia?

Yes. When you have an account with any of the online money transfer services highlighted above, you can make transfers through their website, or via their iOS Apple and Android apps. However, some are easier to use than others.

How long does it take to transfer money to Bangladesh?

There is no 'standard' time for transferring money to Bangladesh from Australia. It really comes down which bank or service you use. In some cases, banks can be quicker because they simply take the Australian dollars out of your account and can send the money overseas on the same day. For more information about how long it takes to transfer money internationally, click here.

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General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

By Justin Rampono Updated April 26th, 2021