1% bonus on bKash remittance along with 2% govt incentive

People receiving money from overseas on bKash will receive a 1 percent cash bonus on top of another 2 percent incentive from the government.

It means a remittance recipient will get a total of Tk 3 bonus on every Tk 100 sent by an expatriate.

The offer, which is applicable for remittances of Tk 10,000 or more, will be valid until January 31, 2021.

“If any expatriate from selected 93 countries sends Tk 10,000 or more to his/her relative’s bKash account via any of the 42 money transfer organizations, the receiver staying in Bangladesh will get 1 percent extra bonus on top of 2 percent govt incentive,” a media statement from bKash read of Saturday.

“The expatriates are sending more remittance to the country amid the coronavirus pandemic. We are offering an extra 1 percent bonus along with the government’s 2 percent incentive to maintain this positive flow,” Shamsuddin Haider Dalim, head of corporate communications of bKash, told bdnews24.com.

He said that every family in the country needs extra money at the end and beginning of a year, in December and January, for settling all debts and admitting the children in new classes. bKash took the initiative taking this into account.

A receiver can avail this offer twice a month and a maximum of four times during the whole campaign. As a result, each recipient can get up to Tk 1,200 in a month and a maximum of Tk 2,400 during the offer period, according to the release.

Highlighting the hassle-free money transfer facilities of the largest mobile financial service, it added that, “Expatriates can send remittances to their loved one's bKash account instantly through online/internet transfer or mobile wallets without wasting their working time and going anywhere.”

“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, etc.,” bKash said.

“Because of the affordable and fast way of receiving money through banking channels, the remittance service of bKash is becoming more popular.”

“For the expatriates who are staying far away from the country and sending their hard-earned money back home, bKash is going to organize an online concert on December 18 to honour their contribution.”

“During this concert, the expatriates will be able to win TV, fridge, washing machine and cash bonus for their loved ones staying in Bangladesh by answering three simple questions. Detailed information will be found in this link: https://fb.me/e/3bRVm08N8.”

The government announced the 2 percent incentive on remittances in the 2019-20 fiscal year and retained it in the 2020-21 financial year.

According to data from the Bangladesh Bank, a total of Bangladesh received Tk 18.2 in remittances in 2019-20 fiscal which was 10.87 percent more than the previous.

In the first five months of the current fiscal, from July to November, expatriates sent Tk 10.9 billion back to the country, which is a significant 41.18 percent leap from that of the same period in the previous fiscal year.