Best Five Banks for freelancers in Bangladesh

Best Five Banks for freelancers in Bangladesh

A freelancer needs to work hard to achieve success in his career and earn a lot of money. Currently, Bangladesh has several freelancers who rely on online platforms to earn their revenues. 

However, in your freelancing career, you know the need to transfer money for various purposes. For instance, you have to transfer your money from the online freelancing account to the local bank in Bangladesh. But, sometimes, the withdrawal charge and exchange rate are not desirable. 

That is why choosing the best bank in Bangladesh is important for freelancers. Most commonly, freelancers in this country prefer direct bank transfer as a reliable method. So, let us make a list of the best banks for freelancers in Bangladesh.

Islami Bank Bangladesh 

Several freelancers in Bangladesh have chosen IBBL to receive their earnings from freelancing. The bank is also great for traditional banking services. You need to submit basic documents (like national ID cards, photos, and signatures) to create your account.

Some Bangladeshi banks do not offer any incentive for the income of freelancers. However, in case of IBBL, there is 2.5% incentive on each transaction.

The withdrawal system also works fast, and freelancers can receive global payments within 2 to 3 days. Besides, you can apply for a platinum debit card to get a Visa International dual currency card. The card lets you make payments in BDT and USD. 

You may choose any ATM of the Visa brand to withdraw money. The dual currency card is also useful for dollar-based payments. If someone from another country has made a wire transfer, your Islami bank account will receive it within 1 to 2 days.

IBBL has an iTransfer system to transfer funds to a local bank. Another interesting feature is the Khidmah card for safe buying or selling activities. 

You can download the iSmart app to manage your account online, transfer funds, or pay bills. 

The City Bank

It is a commercial bank in Bangladesh with best-in-class services for customers across the country. While sending funds through incentives, you will have 2% additional incentives along with 2.5% incentives from the government. 

There is also an option for remitting funds from home or the workplace by using the Mobile Remittance app- City Remit.

You can apply for different debit or credit cards like American Express, Visa Platinum Card, and Visa Debit card. Your City Bank account is also accessible from any place in the world.

In 2022, the Freelancer Account service was launched by City Bank in Bangladesh. Besides, there is an agreement between BFDS and City Bank

As a Freelancer Account holder, you can avail of unique loan benefits using your credit cards. You will also receive a remittance certificate every 6 months. So, it is highly beneficial to the freelancers in Bangladesh. 

Mutual Trust Bank

Mutual Trust Bank is another reliable choice for freelancers in Bangladesh because it ensures faster international transactions. It takes 1 to 2 days to receive global payment. 

The account opening process is almost the same as that of the other banks. Freelancers who earn remittances from other countries get an incentive of 2.5%. 

Mutual Trust Bank customers claim that the withdrawal process is quite fast. You can download the MTB app to check your withdrawal status. Besides, you can take advantage of various types of cards (like Visa International and PayPlus) that are compatible with dual currency.

Use your card for global payment. Besides, you can use it in POS machines, international eCommerce websites, and ATMs.But, there are no mobile-friendly financial services provided by MTB

The bank also accepts wire transfers, and you will be able to collect funds through a nearby branch. Like other banks in Bangladesh, you may also apply for online banking.

United Commercial Bank Limited

UCBL provides different financial services and banking products to SMEs and retail owners in Bangladesh. However, freelancers can also find advantages in creating their UCBL account. You can apply for UCB Visa Debit Card that gives you access to different ATMs. 

UCB International Prepaid card is available with different features. You can load it in the local currency of Bangladesh and use as an international currency.

Besides, UCB collaborated with FELDA Mobile and Incentive Remit to launch a real-time global remittance service in the country. So, you can send funds to others directly through the Upay wallet or digital payment system of UCB. Sending the fund has become safe and affordable.

Dutch Bangla Bank-

This bank has gained popularity because of its comprehensive ATM booth services. It is the right choice for many Bangladeshi Freelancers because they provide some good facilities. However, while opening your account in this bank, you need to provide some additional information. 

For instance, you need to provide the account number of any existing account holder. It is distressing to find a person who has an account in this bank.

The bank provides an incentive of 2.5% on your earnings. The bank ensures faster global transactions, and you can collect your funds within 1 to 2 business days. You have to use the Nexus app to know about the payment status.

Dutch Bangla customers can also apply for a MasterCard International card to deal with foreign transactions. As a freelancer, you can create your foreign currency accounts. 

The debit card can also be used while making transactions on eCommerce platforms. Besides, you will be able to access any DBBL ATM free of cost.

For money transfers to a local bank, DBBL has introduced the Nexus app. Moreover, like other banks, DBBL helps you with mobile banking with a one-click solution.

Bangladesh currently has several private and commercial banks. However, freelancers often feel confused and cannot decide where they should create their accounts to receive international payments. 

So, you can look for banks that allow online banking activities. The incentive percentage is also important for freelancers who want to open a bank account in Bangladesh. 

You should also check the withdrawal time and other charges applicable for transactions. Besides, you may learn about the credit and debit cards offered by the bank.

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