The process for opening a bank account in Bangladesh will vary, depending on the bank and your status.
You’ll need details and documents proving your identity and address, such as:
- NID for applicant and nominee – like your passport
- Photograph of the applicant
- Photograph of the nominee duly attested by the applicant
- Copy of e-TIN Certificate
- Proof of your residential address – such as a utility bill in your name
You’ll also need proof of your income or personal circumstances, such as:
- Proof of income if you’re employed, such as a letter from your employer, a bank statement reflecting your deposited salary, or a tax return
- Proof of occupation, like your employment contract, or a professional licence if you’re self employed
Which documents do I need to open a student account in Bangladesh?
Student accounts have a different opening process. For example, to open a student account with Standard Chartered Bank in Bangladesh, you’ll need:
- A course offer letter (with details on tuition fees, course start and end dates, and estimated living expenses)
- A valid passport
- An academic certificate
- A copy of your tuition refund policy (if you’re using the account to pay in advance for tuition)
Opening a bank account in Bangladesh
You’ll usually have to visit a bank branch to open a bank account in Bangladesh. This means that a member of staff can guide you through the account opening process, including checking and verifying all your paperwork, and taking any required minimum deposit. Here are some different account types which may interest you.
Non Resident
Bangladeshi banks offer various non-resident account options. Some are targeted specifically at non-resident Bangladeshis (NRB), while others can be foreign currency deposit accounts which can be used to add and hold funds in a range of foreign currencies, and then convert to BDT when needed.
Standard Chartered, for example, offers a foreign currency deposit account which is available to NRB and dual-national customers, with a minimum deposit requirement of 1,000 USD or 500 GBP¹.
Student
Student accounts are available from several major banks in Bangladesh, although these may be limited to Bangladeshi citizens only. If you can find a student account you’re eligible for, you’ll usually be rewarded with low or no fees and some tailor made perks for younger customers.
Resident
Bangladeshi residents, who have a full set of paperwork showing their local address, will usually be able to choose from a broad range of account types with major Bangladeshi banks. Accounts usually operate in BDT, but there are also foreign currency account options both for day to day use, and for longer term savings.
Savings
Savings accounts are available, including easy access savings accounts and fixed term deposits, in both BDT and a range of major global currencies.
Can I Open A Bank Account in Bangladesh From Abroad?
Your ability to open a bank account in Bangladesh is heavily restricted if you’re not within the country. However, some banks allow you to open international or foreign currency accounts. Standard Chartered offers a foreign currency account for deposits in USD, GBP and Yen. There’s no required account balance, but deposits must be made in foreign cash only. This account can be opened from abroad.
Policies will vary based on your bank. Some banks will allow you to nominate a resident Bangladeshi to cosign the opening of your account. In addition, if you bank with HSBC or Citi, you may be able to set up a Bangladeshi account as a component of your international banking profile. Before you travel, make inquiries with your local bank and the bank you’re thinking of choosing in Bangladesh.
Open a bank account online in Bangladesh
You’ll probably find it pretty tricky to open an account with a traditional bank in Bangladesh if you’re not in the country yet. One great alternative, though, is to open a multi-currency Wise account, which can be used to hold and convert around 40+ currencies, including Bangladeshi taka.
Open your Wise account from the UK, using your local UK proof of ID and address, top up in pounds, and switch over to BDT for when you travel. You’ll be able to order a linked Wise card, too, for simple spending and withdrawals in Bangladesh and around the world. We’ll look a bit more at Wise and the Wise account, a little later, to help you decide if this option might suit you.