Complete list of cross-border payment collection platforms that support Bangladeshi payments

Below are the major payment platforms and solutions that support cross-border collections in Bangladesh, covering traditional banks, digital wallets, third-party payment gateways, and more:

I. Mainstream international cross-border payment platforms

  1. PayPal

    • Bangladeshi personal and business accounts are supported, but withdrawals need to be made through local banks (e.g. Sonali Bank, BRAC Bank, etc.).
    • Note: Fees are higher and may be subject to foreign exchange controls.

  2. Stripe

    • Not yet directly supported for collection by Bangladeshi businesses (as of 2024), but can be used by registering an offshore entity (e.g., a Singapore or U.S. company).

  3. Wise (formerly TransferWise)

    • Supports individuals and small businesses to receive multi-currency remittances from overseas to Bangladesh Bank accounts (BDT or other currencies).
    • Transparent exchange rates and low commission.

  4. Payoneer

    • Widely used by freelancers and e-commerce platforms (e.g. Upwork, Fiverr), it can be tied to a local bank in Bangladesh to withdraw cash.

  5. Skrill

    • Supports e-wallet transfer to Bangladesh Bank account for small and high frequency transactions.

  6. 2Checkout (Verifone)

    • Supports global credit card collections, need to confirm compliance with Bangladeshi merchants.

II. Regionalised/localised payment programmes

  1. bKash (local mobile wallet)

    • International payroll platforms such as Deel have integrated bKash, which can be used to disburse payments to individuals.

  2. Nagad (Government-supported e-finance services)

  3. Rocket (Dutch-Bangla Bank)

III. Cross-border e-commerce-specific

1. Payza (Alertpay) - a small cross-border payment service once popular in South Asia.
Less common now but still used by some older users

Caveats:

  • 🚨 Exchange Control: Under the Foreign Exchange Regulation Act, declarations are required over a certain amount.
  • 🔄 Conversion Costs: Prefer platforms that can directly settle to BDT to minimise exchange losses.
  • 📜 Compliance documentation: business users are usually required to provide TIN certificates and trade licences.

It is recommended to test the cost and arrival speed of different channels according to the actual business scale! If you need more specific recommendations for a certain type of scenario, you can further specify~.

The Good! The following is forBangladesh Cross Border CollectionsMore in-depth supplemental content covering more niche scenarios, emerging platforms and hands-on advice:

IV. B2B Trade and Enterprise Solutions

  1. Bank Wire Transfer (TT/Wire Transfer)

    • Major commercial banks in Bangladesh (e.g. Standard Chartered Bangladesh, HSBC Bangladesh, Eastern Bank Limited) support SWIFT for international money transfers subject to availability:
      • Buyer PO (Purchase Order)
      • commercial invoice
      • Exchange Control Table (for transactions in excess of $5,000).

  2. Letter of credit (L/C)

    • Recommended for high risk transactions, local banks such as Prime Bank or Islami Bank Bangladesh offer L/C services.

  3. Deel (Global payroll/outsourced payments)

    • Support payments to Bangladeshi employees or contractors to be released directly to bKash or bank accounts.

  4. Airwallex (Asia Pacific Enterprise Account)

    • Multi-currency demo account can be opened to receive USD/EUR and then transfer to Bangladesh through exchange of foreign currency through partner banks.

V. Freelancers and microcollections

  1. Binance P2P (Cryptocurrency exchange)Need to be cautious about compliance

    • Some users exchange BDT to local banks/Nagad via stablecoins like USDT.

  2. Remitly/Panda Remit (Diaspora Remittance Channel)

    • Suitable for overseas Bangladeshis to transfer money to their friends and relatives at home at a lower rate than Western Union.

  3. Local Payment Aggregators:

    • SSL Wireless (Bangladesh's homegrown aggregated payment gateway), which supports e-commerce websites to access Visa/Mastercard and local wallets.

VI. China-Bangladesh cross-border dedicated

1.PingPong FuTrade: one of the sunshine channels for Chinese enterprises to settle foreign exchange for exporting to Bangladesh.
Handling fee around 0%-1% and can avoid part of the foreign exchange risk

💡 Optimisation strategies:

  • 📌 Mix it up: use TT+L/Credit for large amounts; Payoneer/bKash for small amounts to reduce friction costs.
  • ⏱️ arrival time: digital wallets (bKash/Nagad) usually instant; bank wire transfers take 3-5 business days.
  • 🛡️ Fraud prevention: require a percentage of advance payment (e.g. 30%), especially for new customers.

Let me know if you need a breakdown of the payment scheme for a specific industry (e.g. clothing exports, IT outsourcing)!