How do you open a bank account in Bangladesh?
- See the data table below for detailed numbers
- Check the FAQ section for common expat questions
- Use our free assessment to get personalised results
Cash or card? Local bank or digital? In Bangladesh, the answer depends on where you live and how long you're staying.
Banking Overview in Bangladesh
| Feature | Details |
|---|---|
| Currency | Bangladeshi taka (BDT) ৳ |
| Bank Account for Foreigners | Yes |
| Access Difficulty | Medium |
| Remote Opening | No |
| Wise Available | No |
| N26 Available | No |
Opening a Bank Account in Bangladesh
Foreigners can open bank accounts in Bangladesh. The process difficulty is rated as medium, which means you should expect some bureaucracy and possibly language barriers.
Required Documents
- Valid passport or national ID
- Proof of address / residence registration
- Residence permit (if applicable)
- Tax identification number (if available)
- Initial deposit (amount varies by bank)
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Digital Banking Options
Wise (TransferWise)
Wise has limited availability in Bangladesh. While you may be able to send money to Bangladesh, full local account features may not be available. Check their website for the latest on Bangladesh-specific services.
N26
N26 is not currently available in Bangladesh. You may need to consider local digital bank alternatives or traditional banks.
International Transfers
When transferring money to or from Bangladesh, consider these factors:
- Exchange rate: The currency is BDT. Always compare the offered rate with the mid-market rate.
- Transfer fees: Transfer fees vary — compare providers like Wise for the best rates.
- Transfer speed: Bank-to-bank (SWIFT) transfers take 2-5 business days. Digital services often complete within 1-2 days.
- Regular transfers: If sending money home regularly, set up a recurring transfer to lock in better rates.
Salary and Everyday Banking
The average salary in Bangladesh is approximately €254 per month. Your employer will typically require a local bank account for salary deposits. Most banks offer:
- Debit card (Visa or Mastercard)
- Online banking portal and mobile app
- Direct debit setup for rent and utilities
- ATM withdrawals (check fee policies)
Tips for Expats
- Set up online banking immediately: Most routine transactions can be handled online or via app, saving you queues and branch visits.
- Use a multi-currency card: A multi-currency travel card (Wise, Revolut) saves you exchange fees during the transition period.
- Open your account early: Visit a bank branch within your first week. Having a local account speeds up everything from rent to mobile contracts.
- Carry cash for the first week: Card acceptance varies. Have enough local currency to cover taxis, meals, and small purchases until your account is active.
- Keep your home bank account: Maintain an account in your home country for at least the first year, in case you need to transfer funds back.
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Get Your Free VerdictFrequently Asked Questions
Can I open a bank account in Bangladesh as a foreigner?
Yes, foreigners can open bank accounts in Bangladesh. The difficulty level is rated as medium. You will typically need your passport, proof of address (registration), and sometimes a residence permit.
Can I get a credit card as an expat in Bangladesh?
Credit card availability for expats in Bangladesh depends on your income history and residency status. Some banks require 6-12 months of salary deposits before offering credit. Start with a debit card and apply for credit later.
What is the local currency in Bangladesh?
The local currency in Bangladesh is Bangladeshi taka (BDT), represented by the symbol ৳. Most payments can be made by card, though cash may still be important in some contexts.
What happens to my bank account if I leave Bangladesh?
Most banks in Bangladesh allow you to keep your account open even after leaving, though some may require an address in Bangladesh. It is advisable to switch to a basic or non-resident account to avoid unnecessary fees. Close standing orders and direct debits before leaving.
Does Wise (TransferWise) work in Bangladesh?
Wise has limited functionality in Bangladesh. You may need to rely on traditional banks for transfers.