Account in Bangladeshi taka (BDT): features and management methods

The banking sector in Bangladesh is actively developing: over the past few years, the country has undergone a digital transformation that has simplified user access to accounts in Bangladeshi taka (BDT). This is an important step for a country where a large part of the population faces difficulties accessing bank accounts due to underdeveloped infrastructure.

For example, in 2024, the number of citizens with access to bank accounts in Bangladeshi taka (BDT) was approximately 7.5%, while the number of adult banking clients was only 35%.

The Central Bank of Bangladesh is actively working on developing the digital banking sector and, in addition to traditional accounts, focuses on:

• Agent banking services;
• Internet banking;
• Mobile financial services.

These products simplify the use of bank accounts in Bangladeshi taka (BDT) and make them more accessible to individuals, including non-residents and tourists.

Thus, in just 5 years, from 2019 to 2024, the share of active MFS accounts* in Bangladesh almost doubled — from 29% to 54%, and their number approached 30 million.

* MFS accounts are a type of account associated with mobile digital services.

How to open a bank account in Bangladeshi taka (BDT)

There are dozens of banks in the country that allow opening an account in Bangladeshi taka (BDT). Some of them include:

• Dhaka Bank PLC;
• AB Bank Limited;
• Bangladesh Commerce Bank Limited;
• Bank Asia Limited;
• Bank Al-Falah Limited;
• Citi Bank LTD;
• Eastern Bank Limited;
• Dutch-Bangla Bank;
• Trust Bank LTD and others.

Both residents and foreign citizens staying in the country on a work or tourist visa can open a bank account in Bangladeshi taka (BDT).

To open an account, it is necessary to visit a branch of one of the available banks, provide identification documents, and fill out an application form. For residents of Bangladesh, the list of documents is as follows:

• National ID (NID) or another valid identity document;
• Proof of address (utility bill or extract from a municipal register);
• Additional documents depending on the type of account in Bangladeshi taka (BDT). For example, business clients may be required to provide company incorporation documents.

Requirements for non-residents are stricter: in addition to the above documents, the bank may request:

• Passport and visa allowing legal stay in the country;
• Work permit or employment certificate. Banks in Bangladesh may also accept proof of self-employment if applicable;
• Two photographs of the applicant, as well as a photo of the nominee* or guardian;
• In some cases — E-TIN (electronic certificate issued by the National Board of Revenue (NBR)).

* A nominee is a person designated by the account holder to receive funds in case of death or incapacity. In simple terms, it is a designated beneficiary (account heir) officially recognized by the bank. The nominee is not necessarily the legal heir but may temporarily receive funds until final legal distribution.

It should also be noted that there are several types of bank accounts in Bangladesh, such as personal, standard (without additional services), deposit, and corporate accounts, depending on which the document requirements may vary.

Personal accounts do not require an initial deposit or fees for internal bank transfers, and they allow transferring up to 75% of earned income to the country of residence if the client is not a resident of Bangladesh.

In addition to a regular account opened by visiting a bank branch, it is also possible to open a digital account through mobile service platforms such as bKash and Nagad using a simplified procedure.

This is available, including for non-residents aged 18 and older, provided they have a passport, identification number, or driver's license.

In some cases (for example, when opening standard accounts), banks may require an initial deposit ranging from 10 to 100 Bangladeshi taka (BDT). Standard accounts usually have no maintenance fees, but banks may charge for transfers and set limits on them.

How to fund a bank account in Bangladeshi taka (BDT)

You can fund an account in Bangladeshi taka (BDT) in several ways:

• Cash via bank tellers or ATMs;
• Transfers by account or card number;
• Through agent networks;
• Using mobile and electronic payment services.

The same methods can be used to withdraw Bangladeshi taka (BDT) from a bank account. Transfers between bank accounts, MFS wallets, and agent points are also common in Bangladesh, especially in rural areas where physical bank branches are less accessible. International transfers can be made through payment systems such as Wise, bKash, Nagad, and Rocket, which are available in Bangladesh.