Brac Bank-DBS deal helps migrants send remittance from Singapore

Brac Bank recently signed a partnership agreement with Singapore-based multinational bank DBS such that Bangladeshi migrants in Singapore could easily transfer their hard-earned income to their families with minimal expenses.

For remittances to Bangladesh, DBS Remit provides guaranteed exchange rates, has no service fee charges and ensures real-time automated deposits to Brac Bank accounts, as well as any other bank account in Bangladesh, said a press release.

Brac Bank's extensive network of 187 branches and more than 700 agent banking outlets also allows recipients in Bangladesh to easily collect the transfer in cash if they prefer.

The bank's customers can use Mobile App Astha to pay utilities, insurance and loan installations, credit card and phone bills as well as transfer funds to any bank account or mobile wallet in Bangladesh for remittances deposited to a Brac Bank account.

 "We joined hands with DBS Bank, the leading digital bank in the world because they, like us, offer their customers the best service experience, backed by the most advanced technologies. We look forward to expanding our partnership scope with DBS in future," said Selim RF Hussain, managing director of Brac Bank.

"We look forward to enabling remittances to bKash wallet by the end of this year so customers can remit to even more touch points across Bangladesh," said Rhidoi Krishnakumar, regional head of DBS Remit.