The amount of remittance through bKash increased at a significant rate on the occasion of Eid as expatriates are sending remittances to their loved ones' bKash accounts in the country in real time using online, internet or mobile wallet via banking channel.
Compared to April 2021, remittances through bKash in April of this year have almost been doubled, said a press release.
In addition, receivers can Cash Out the money at any time from any nearby agent point instead of going to the bank and thus, save the cost of traveling and time as well.
They can even avail various other services like utility bill payment, send money, mobile recharge, payment of educational institution or hospital expenses, payment of online shopping.
Because of the affordable and swift way of receiving money through banking channels, the remittance service of bKash is becoming more popular. Relatives of remitters are also considering receiving remittance through bKash as safe, hassle-free and convenient.
Currently, expatriates from more than 70 countries are getting the opportunity to send remittances safely to more than 60 million bKash accounts through 67 money transfer organizations (MTO) by online or wallet transfer via settlement in 12 commercial banks of the country, the release reads.
The widespread network of bKash across the country is ensuring uninterrupted services to the doorsteps of the customers.
The use of bKash as a means of receiving remittances as a last-mile-solution is therefore increasing day by day. At this moment, a customer can receive remittances up to Taka 1.25 lakh per day and up to Taka 4.5 lakh per month in a bKash account.
To encourage migrants to use proper channels to send money home, the government has increased cash incentive on remittance to 2.5% from 2%, added the release.
bKash disburses the remittance with govt. incentive in real time. This plays a significant role in motivating senders to send remittances via legal channel.