Sending money from Singapore to Bangladesh: the payments stack
Sending SGD 260 from Singapore to Bangladesh cost 6.54% of the amount on average in Q3 2025, across 23 services in the World Bank's Remittance Prices Worldwide survey. Payouts in Bangladesh typically run over BEFTN (Bangladesh Electronic Funds Transfer Network), NPSB (National Payment Switch Bangladesh); between now and the end of 2027 there are 5 weekdays when banks in Singapore are closed but Bangladesh keeps paying out, so the payout balance has to be funded before them.
| Average cost to send | 6.54% of SGD 260 (Q3 2025, World Bank RPW) source |
| Money transfer operators | 6.6% across 18 services |
| Banks | 6.34% across 5 services |
| Collect in Singapore | FAST, PayNow, MEPS+, Interbank GIRO, PayNow cross-border linkages (PromptPay, UPI, DuitNow) |
| Pay out in Bangladesh | BEFTN (Bangladesh Electronic Funds Transfer Network), NPSB (National Payment Switch Bangladesh), BD-RTGS |
What it costs to send SGD 260
The World Bank surveyed 23 services sending from Singapore to Bangladesh from 19 August 2025 to 25 August 2025. The average total cost, fees plus the FX margin, was 6.54% of the amount sent; money transfer operators averaged 6.6% and banks 6.34%. source
Bank and operator averages are worked out from the survey's provider types.
The send side: Singapore
- Cross-border money transfer service (Activity C under the Payment Services Act) means providing inbound or outbound remittance service in Singapore, and also facilitating remittance between entities in different countries even if monies are not accepted or received in Singapore. source
- There are three licence types: a money-changing licence, a Standard Payment Institution (SPI) licence for services below the thresholds in section 6(5) of the Act, and a Major Payment Institution (MPI) licence without those limits. The thresholds are S$3 million of monthly transactions for any one activity, S$6 million for two or more activities and S$5 million of daily outstanding e-money. source
- Base capital is S$100,000 for an SPI and S$250,000 for an MPI. Before starting business an MPI must also lodge security with MAS, as a cash deposit or bank guarantee, of S$100,000 if its monthly payment transactions average no more than S$6 million for any one payment service, or S$200,000 in all other cases. source
Licences, sponsor banks, collections, ramps and KYC providers: sending from Singapore.
The payout side: Bangladesh
| Payout partner | What it does in Bangladesh | Source |
|---|---|---|
| dLocal · our guide | Payouts V3 pays BDT to bank accounts (account number, branch code, address and phone) and to bKash and Nagad wallets for B2C, B2B and P2P flows, identifying beneficiaries by their 17-digit National Identity Card number. | source |
| TerraPay · our guide | Its API lists bKash, Rocket and Nagad as Bangladesh wallet endpoints; for Bangladesh bank transactions only the NPSB scheme is allowed for quotes, and routing numbers are required. | source |
| Thunes · our guide | Its money transfer API pays BDT in Bangladesh to bank accounts over NPSB and BEFTN (BEFTN credits T+1 when sent before the bank cut-off), to mobile wallets and for cash pickup. | source |
| Nium · our guide | Pays BDT to all banks in Bangladesh same day between 07:30 and 22:00 local time, Sunday to Thursday, and to bKash and Rocket wallets in real time 24x7, up to BDT 50,000 per wallet payout. | source |
| BRAC Saajan | FCA-authorised payment institution offering money transfer operators and wallets a single API for payouts to Bangladesh by cash pickup, bank transfer, instant transfer and wallet transfer, built on its own correspondent banking partnerships. | source |
| bKash | MFS wallet endpoint: remittances reach bKash accounts through authorised and listed foreign banks, MTOs and exchange houses settling via banks in Bangladesh, and recipients through legal channels get the 2.5% government incentive. | source |
Licensing, local banks, stablecoin ramps, FX and KYC in Bangladesh: launching payments in Bangladesh.
Payout rails in Bangladesh
| Rail | Operator | What matters for payouts | Source |
|---|---|---|---|
| BEFTN (Bangladesh Electronic Funds Transfer Network) | Bangladesh Bank | Interbank credit and debit transfers, including foreign and domestic remittances and payroll, cleared in processing sessions and settled on a deferred net basis on banks' accounts at Bangladesh Bank; entries that fall on a weekend or holiday settle on the next business day. | source |
| NPSB (National Payment Switch Bangladesh) | Bangladesh Bank | Interbank switch for ATM, POS, QR, internet banking fund transfers (IBFT) and interoperable bank and MFS transfers. Individual IBFT is capped at Tk 3,00,000 per transaction and Tk 10,00,000 a day, and corporate IBFT at Tk 5,00,000 per transaction and Tk 25,00,000 a day; Bangladesh Bank removed the cap on the number of daily IBFT transactions in April 2022, and banks may set lower limits. | source |
| BD-RTGS | Bangladesh Bank | Real-time gross settlement launched in October 2015 for high-value transfers of Tk 1,00,000 or more between customers; government payments and inland foreign currency transactions (six currencies) have no minimum. | source |
Holiday gaps to plan for, to December 2027
Weekdays when one side of the corridor is closed. On the 5 dates when Singapore is closed and Bangladesh is open, the payout balance has to already hold enough to cover them. On the 10 dates when Bangladesh is closed, instant rails may still pay out.
| Date | Singapore | Bangladesh | What it means |
|---|---|---|---|
| Mon 9 Nov 2026 | Deepavali (Monday holiday) | Open | Prefund Bangladesh the day before: no funding from Singapore, payouts continue |
| Wed 16 Dec 2026 | Open | Victory Day | Bangladesh banks closed: only always-on rails pay out |
| Fri 25 Dec 2026 | Christmas Day | Christmas Day | Both closed |
| Thu 31 Dec 2026 | Open | Bank holiday (annual closing) | Bangladesh banks closed: only always-on rails pay out |
| Fri 1 Jan 2027 | New Year's Day | Open | Prefund Bangladesh the day before: no funding from Singapore, payouts continue |
| Mon 8 Feb 2027 | Chinese New Year (Monday holiday) | Open | Prefund Bangladesh the day before: no funding from Singapore, payouts continue |
| Fri 5 Mar 2027 | Open | Jumatul Wida (last Friday of Ramadan) | Bangladesh banks closed: only always-on rails pay out |
| Wed 10 Mar 2027 | Hari Raya Puasa | Eid-ul-Fitr | Both closed |
| Fri 26 Mar 2027 | Good Friday | Independence and National Day | Both closed |
| Wed 14 Apr 2027 | Open | Bengali New Year (Pohela Boishakh 1434) | Bangladesh banks closed: only always-on rails pay out |
| Mon 17 May 2027 | Hari Raya Haji | Eid-ul-Azha | Both closed |
| Thu 20 May 2027 | Vesak Day | Buddha Purnima | Both closed |
| Wed 16 Jun 2027 | Open | Ashura | Bangladesh banks closed: only always-on rails pay out |
| Thu 1 Jul 2027 | Open | Bank holiday (half-yearly closing) | Bangladesh banks closed: only always-on rails pay out |
| Thu 5 Aug 2027 | Open | July Mass Uprising Day | Bangladesh banks closed: only always-on rails pay out |
| Mon 9 Aug 2027 | National Day | Open | Prefund Bangladesh the day before: no funding from Singapore, payouts continue |
| Wed 25 Aug 2027 | Open | Janmashtami | Bangladesh banks closed: only always-on rails pay out |
| Thu 28 Oct 2027 | Deepavali | Open | Prefund Bangladesh the day before: no funding from Singapore, payouts continue |
| Thu 16 Dec 2027 | Open | Victory Day | Bangladesh banks closed: only always-on rails pay out |
| Fri 31 Dec 2027 | Open | Bank holiday (annual closing) | Bangladesh banks closed: only always-on rails pay out |
Full calendars: Singapore and Bangladesh. Size the buffer with the corridor runway calculator.
Funding the corridor
- FAST runs 24x7 at most participants, but some banks give a FAST transaction the next business day as value date if it is made after a cut-off time or on a non-business day. source
- A single FAST transfer is capped at S$200,000, so larger SGD movements go through MEPS+, which settles only on business days (Monday to Friday, excluding public and bank holidays). source
- Under the Post-Fund modality the Bangladeshi bank pays out taka first and takes reimbursement in foreign currency from its foreign counterpart within the time frame of their tie-up, not more than T+2 days; the Pre-Fund modality (formerly EFT) is the prefunded route. source
- Bangladesh Bank's RTGS schedule from September 2025 runs customer taka transfers from 10:00 to 17:00 and interbank taka transfers to 17:15, with foreign currency transfers from 10:00 to 16:00 (customer) and 16:30 (interbank). source
- Since September 2026 (FEPD-2 Circular No. 05), foreign currency remittances received through exchange houses and IMTOs can also be credited to Personal Foreign Currency and Non-resident Foreign Currency Deposit accounts. source
Running the corridor
Polynopsis shows every balance on both sides of this corridor in one live position: the collection accounts in Singapore, the payout partners and banks in Bangladesh and any stablecoin in between. It warns before the Bangladesh balance runs dry, holidays included. See how it works.
Frequently asked questions
How much does it cost to send money from Singapore to Bangladesh?
The World Bank's survey put the average total cost of sending SGD 260 at 6.54% in Q3 2025, across 23 services. Money transfer operators averaged 6.6%.
Which rails pay out in Bangladesh?
Local payouts run over BEFTN (Bangladesh Electronic Funds Transfer Network), NPSB (National Payment Switch Bangladesh), BD-RTGS.
When do I need to prefund Bangladesh payouts ahead of holidays?
Between now and December 2027 there are 5 weekdays when Singapore is closed and Bangladesh is open, the first on Mon 9 Nov 2026. The payout balance has to cover those days before they start.
Related corridors
Sources
- World Bank, Remittance Prices Worldwide dataset · World Bank
- Public Holidays for 2027 (press release, 18 June 2026) · Ministry of Manpower
- Public holidays (2026 and 2027) · Ministry of Manpower
- Holidays of Bank/FIs 2026 · Bangladesh Bank
- DOS Circular Letter No. 20: List of holidays for the year 2026 · Bangladesh Bank
Know where all your money is.
Polynopsis gives cross-border payment teams one live position across every bank, payout partner, exchange and wallet, including money in flight, and warns before a corridor runs dry.
About Polynopsis
Polynopsis is liquidity management software for cross-border payment companies. The name joins poly, many, and synopsis, a seeing together: one live view of money spread across many banks, payout partners, exchanges and stablecoin wallets, including money in flight, with a warning before any corridor runs dry.
Why it is called Polynopsis · About Polynopsis · Glossary · Corridor runway calculator