In this article, you'll discover whether Revolut works in Bangladesh, explore some drawbacks if it is available, and consider the possibilities it offers for managing your finances while traveling.
Does Revolut Work In Bangladesh?
Does Revolut Work In Bangladesh? isn't available in Bangladesh. The service primarily caters to users in the United Kingdom who are traveling to Bangladesh, offering a Bangladeshi Taka card for spending and ATM withdrawals in the local currency.
While Revolut provides a convenient solution for UK travelers, it does not extend its full range of services to residents of Bangladesh. Users in Bangladesh cannot sign up for Revolut or access its app-based functionalities directly within the country.
Fees and Charges for Using Revolut in Bangladesh
Here are some general costs that users might encounter:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: Fee-free ATM withdrawals up to certain limits depending on the user's plan. After hitting these limits, a fee of 2% of the withdrawal value or a minimum fee of £1 (whichever is greater) is charged.
- Transaction fees: General currency exchange fees may apply for spending in Bangladeshi Takas.
- Fair-usage fees: Applicable for currency exchange and ATM withdrawals beyond the free limits.
- ATM access fees: Some providers may charge additional fees for ATM access.
Is Revolut the Best Option in Bangladesh?
Even if Revolut is available in Bangladesh, it might not be the best option for users due to several limitations and restrictions that could impact the overall user experience.
- Limited local support: Revolut does not offer customer support specifically for Bangladeshi users.
- ATM access fees: Some ATM providers in Bangladesh may charge additional fees.
- Currency exchange limits: Fair-usage limits and weekend markups can increase costs.
- Service availability: Full range of Revolut services is not accessible to residents of Bangladesh.
- Regulatory challenges: Potential regulatory issues may affect the seamless use of Revolut.
Alternatives to Revolut in Bangladesh
1) OneSafe
OneSafe is a leading alternative payment solution in Bangladesh, offering a seamless and user-friendly experience. With features like simple onboarding, multi-currency support, and lower fees, OneSafe stands out for its superior customer support and efficient global payment options, making it an ideal choice for businesses and individuals alike.
OneSafe Reviews
Users have praised OneSafe for its comprehensive features, including ACH, Crypto, Wire deposits, and Virtual cards, making it the best bank they have used so far. The company is appreciated for its support for most businesses, reflecting a positive sentiment among users who value these functionalities.
2) Wise
Wise offers a multi-currency account, low-fee international transfers, and an international debit card, making it a viable payment solution in Bangladesh. Users benefit from cost-effective, fast, and secure transactions, with the ability to manage finances across multiple currencies. Wise supports Bangladeshi Taka, enhancing its utility for local users.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval. Check out more Wise reviews here.
3) NOWPayments
NOWPayments is a crypto payment gateway that allows businesses in Bangladesh to accept over 300 cryptocurrencies, including Bitcoin and Ethereum. Key features include low transaction fees, instant payouts, and fiat withdrawals. The platform also offers 24/7 support, making it a reliable option for businesses seeking to integrate cryptocurrency payments.
NOWPayments Reviews
NOWPayments has an overall rating of 3.8 out of 5 based on 402 reviews. Users have reported issues with account restrictions, poor handling of refunds, and concerns about the company's policies. Check out more NOWPayments reviews here.
Frequently Asked Questions about Revolut in Bangladesh
Can I open a Revolut account in Bangladesh?
No, residents of Bangladesh cannot open a Revolut account directly within the country.
Are there any fees for using Revolut in Bangladesh?
Yes, fees include currency exchange fees, ATM withdrawal fees, and potential fair-usage fees.
Does Revolut support Bangladeshi Taka?
Revolut supports Bangladeshi Taka for UK travelers, but not for residents of Bangladesh.
Is customer support available for Revolut users in Bangladesh?
No, Revolut does not offer dedicated customer support for users in Bangladesh.
Can I use Revolut for international transfers in Bangladesh?
UK travelers can use Revolut for international transfers, but residents face limitations.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Bangladesh is crucial for seamless financial management. While Revolut has limitations, OneSafe offers a robust alternative with superior features and support. Explore OneSafe for a more efficient and user-friendly experience. Sign up today to get started!
