Why Bangladesh Bank Not Allow to Send Remittance (Send Foreign Currency Aboard) ? Why They Put This Type of Barrier to Send, Even Receiving Foreign Currency on Few Cases in Bangladesh?
This is 12th of October, I am writing this posting with fed up to send few amount of money to my friend on his US Bank Account. My friend live in USA for a long time. He is one of my school friend and his birthday is today 12th October. I had a plan make him surprised by sending a gift from Bangladesh. So I decided to buy some gift for him from any online shop of USA and pay the bill with my International VISA Gold Credit Card. This plan was in my mind on 1st of this Month. Story begin from here...
I log on to Amazon (http://www.amazon.com/), spend a lot of time to select a gift for him. I was really happy to find a perfect gift for him living USA. After selecting the gift my bill was only USD$459.95 , to little amount to say. When I proceed to checkout I enter my payment option. What the hell was it, Amazon saying my card is invalid! I called to 24/7-call center of my Credit Card Issuer Bank, no reply! Nothing to say. I have to wait for next day.
Next day, I rush to the nearest branch of Bank and found my so-called 'International Credit Card' need to be activated by making an endorsement on my passport. Ok, I gave my passport to bank counter, make the endorsement and return home. After doing all above formalities, I return to Amazon and put the credit card information. It was seems working at that moment. After a few minute, I got an email that my Bank has denied the card! Again no reply from my Bank! Nothing to day until holiday is over. So I went out with my car to get some fuel for a long drive. I took tank top of Octane and make the payment via that credit card, which I used in Amazon.
Now it is my time to be surprised. The payment terminal is rejecting my Card!!! I have to give another card for that payment and return home with a lot of surprised, sorrow and helpless.
After the holiday, in first working day, I went to my credit card issuer bank and found that so-called ‘International Credit Card’ is not for use on any online transactions. I have to be physically on foreign country to use that card.
This is my total experience on making a small amount of foreign currency via Internet. Later I got to know that Bangladesh Bank has little restriction on sending money to aboard without filling criteria. I knew it that Bangladesh Bank’s has restriction to send remittance without any formalities from them. But it was really funny that after getting an International Credit Card, enabling it by endorsement on passport I still under the barrier to send money from Bangladesh.
As my all plan of payment via credit card failed, I tried in our local way, by visiting Bangladesh Bank’s office to send few amount for that gift. It was another painful history. It is too night now. I need to be in bed. I will write the painful history of Bangladesh Banks Remittance Policy on other post.
Bye for now.
Good Day, sorry, Good Night.
This is 12th of October, I am writing this posting with fed up to send few amount of money to my friend on his US Bank Account. My friend live in USA for a long time. He is one of my school friend and his birthday is today 12th October. I had a plan make him surprised by sending a gift from Bangladesh. So I decided to buy some gift for him from any online shop of USA and pay the bill with my International VISA Gold Credit Card. This plan was in my mind on 1st of this Month. Story begin from here...
I log on to Amazon (http://www.amazon.com/), spend a lot of time to select a gift for him. I was really happy to find a perfect gift for him living USA. After selecting the gift my bill was only USD$459.95 , to little amount to say. When I proceed to checkout I enter my payment option. What the hell was it, Amazon saying my card is invalid! I called to 24/7-call center of my Credit Card Issuer Bank, no reply! Nothing to say. I have to wait for next day.
Next day, I rush to the nearest branch of Bank and found my so-called 'International Credit Card' need to be activated by making an endorsement on my passport. Ok, I gave my passport to bank counter, make the endorsement and return home. After doing all above formalities, I return to Amazon and put the credit card information. It was seems working at that moment. After a few minute, I got an email that my Bank has denied the card! Again no reply from my Bank! Nothing to day until holiday is over. So I went out with my car to get some fuel for a long drive. I took tank top of Octane and make the payment via that credit card, which I used in Amazon.
Now it is my time to be surprised. The payment terminal is rejecting my Card!!! I have to give another card for that payment and return home with a lot of surprised, sorrow and helpless.
After the holiday, in first working day, I went to my credit card issuer bank and found that so-called ‘International Credit Card’ is not for use on any online transactions. I have to be physically on foreign country to use that card.
This is my total experience on making a small amount of foreign currency via Internet. Later I got to know that Bangladesh Bank has little restriction on sending money to aboard without filling criteria. I knew it that Bangladesh Bank’s has restriction to send remittance without any formalities from them. But it was really funny that after getting an International Credit Card, enabling it by endorsement on passport I still under the barrier to send money from Bangladesh.
As my all plan of payment via credit card failed, I tried in our local way, by visiting Bangladesh Bank’s office to send few amount for that gift. It was another painful history. It is too night now. I need to be in bed. I will write the painful history of Bangladesh Banks Remittance Policy on other post.
Bye for now.
Good Day, sorry, Good Night.
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