The five are Jhikorgachha Police Station Sub-Inspector Ezazur Rahman and constables Azizur Rahman, Mamun Hossain, Babar Ali, and Ziaul Hasan.
Jessore Additional SP KM Ariful Haque said they were withdrawn on Friday after the incident on Thursday.
He said an investigation into the incident has been launched.
Victim Mizanur Rahman hails from Kalia in Narhail Upazila.
He told bdnews24.com the policemen stopped him and his wife at Jhikorgachha when they were returning from India through the Benapole border.
“They frisked me and snatched $3,000 from my wife’s purse. I informed the journalists at Jessore Press Club later,” he said.
Rahman said he did not file a case fearing harassment.
He also said an unidentified youth returned the dollars on Friday afternoon.