What is the local currency?
The local currency is Bangladeshi Taka (BDT). One Taka is subdivided into 100 poisha.
What denominations does it come in?
Taka 1, 2, 5, 10, 20, 50, 100, 500, 1000
What is the best way to exchange currency?
The best way to exchange currency is to visit a bank. Alternatively, there are money exchange agents all around the city where currency can be exchanged.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash is the most common way of paying for everyday purchase. But in super shops and big grocery stores they accept credit/debit card for payments.
Will I be able to use my credit card around town? If not, list when I’ll need cash.
Yes, credit card can be used in almost every big shops or big restaurants around the city. But cash is required while shopping in nearby small shops.
By what method are bills (such as rent and utilities) paid?
Bills are mostly paid in Cash by visiting designated bill payment sites or banks. But some local bank allow payment through online transaction.
What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
Crown Dhaka recommends the Foreign Currency Accounts for expatriates, as it offers flexibility. Currently, the following is a list of documents required for a Foreign Currency Accounts account application:
HSBC, Standard Chartered or Deutsche Bank etc.
- Duly filled Account Opening Form (AOF)
- Two copies of recent passport size photograph of the account holder
- One copy of recent passport size photograph of the nominee/guardian (in case of nominee being a minor) attested by the account-holder(s)
- Work permit / employment certificate /approval for self-employment from the competent authority for the Bangladeshi nationals.
- Copy of Passport with visa details.
- Copy of approved contract between Foreign Donors / International Donor Agencies and Local /Joint Venture contracting firms.
- Copy of Bond License issued by the Custom Authorities for Diplomatic Bonded Warehouse.
Will foreign residents be able to find banking services in their native languages?
Yes. Most multinational banks offer banking services in English.
Are there any restrictions on services for those who are new to your country?
What are typical banking hours?
Typically, banks are open from 10:00 a.m. to 04:00 p.m. Bangladesh observes a Sunday to Thursday workweek. Friday is the weekly holiday and banks are closed. National holidays are observed by most of the banks in Bangladesh. (Please check with the specific banks for their declared holidays).
Are automatic teller machines (ATMs) available around the clock?
ATM machines are available 24 hours a day, 7 days a week and can be found all around the city.
Is there any other money information that might help me?
Use of Bkash is becoming popular. It’s a mobile money transfer/payment solution.
Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.