ACE Money Transfer
ACE Money Transfer
26 Jun 2025
If you are one of the millions of Bangladeshi overseas workers sending money home, there is a government-backed bonus waiting for your family on every transfer. The 2.5% cash incentive on remittance in Bangladesh rewards those who use formal channels - and stacking it with provider promotions can stretch each transaction even further. Here is exactly how it works and how to claim it.
The government of Bangladesh currently offers a 2.5% cash incentive on all inward wage-earner remittances sent through legal channels. This includes licensed banks, mobile financial services like bKash, and regulated money transfer operators such as ACE Money Transfer. The incentive applies to remittances sent through legal and authorized financial networks, covering the global Bangladeshi diaspora across dozens of corridors.
The 2.5% incentive directly increases the amount received in Bangladesh. It is automatically credited to the beneficiary's account in addition to the principal remittance - recipients receive the converted amount in Bangladeshi Taka plus the cash bonus. This is not a fee discount; it is a government-funded top-up.
After the incentive was raised by 0.5% in January 2022, successive budgets for FY2022-23, FY2023-24, and FY2024-25 have kept the rate unchanged to sustain overall remittance inflows. The current fiscal year's budget has confirmed its continuation as well.
For migrant workers and their families, this policy means tangible extra income on every transfer. The rest of this article explains the background, eligibility rules, and how to claim the benefit when sending remittances via ACE Money Transfer - including how to access bigger prizes through seasonal promotions.
The incentive was originally introduced at 2% in July 2019 to encourage Bangladeshi expats to route foreign remittances through regulated channels. When remittance inflows softened after an initial surge, the govt raised the rate to 2.5% effective 1 January 2022, empowering Bangladeshi overseas workers with a stronger reason to avoid unregulated channels.
The cash incentive program reduces reliance on informal channels like hundi and serves several broader policy goals:
Encourage sending remittances through formal channels, where transactions are traceable, transparent, and compliant with Bangladesh Bank regulations.
Strengthen foreign exchange reserves, which had come under pressure during the foreign exchange crisis when official inflows declined. The incentive aims to boost foreign exchange reserves by pulling money back into the banking system.
Support families who depend on overseas employment income by giving them a direct financial uplift on every transfer.
The data backs it up. Under the earlier 2% incentive, remittance growth hit roughly 36% in FY2020-21 compared to the previous fiscal year, with inflows jumping from about USD 18.2 billion to USD 24.8 billion. Several economists and financial experts attribute this partly to the incentive's role in formalising flows. More recently, in March 2026, Bangladesh recorded USD 3.75 billion in a single month - the highest amount ever - as driven Bangladeshi diasporas continued choosing legal channels.
Regulatory facilitation has also helped. For transfers up to BDT 500,000, no extra documentation is typically required beyond standard identification, making it simpler for workers abroad to ensure their families qualify for the bonus.
The 2.5% is a government-funded bonus paid on top of the remittance amount. It is not deducted from the sender and is not a fee discount. The government offers a 2.5% incentive on remittances to drive increased remittance inflows through the formal banking system.
Here is a simple example: if a sender remits USD 1,000 and the exchange rate converts that to BDT 120,000, the beneficiary receives BDT 120,000 plus an extra BDT 3,000 (2.5% of the converted value). Recipients receive an extra 2.5% for every remittance sent through eligible institutions.
Eligibility rules at a high level:
The remittance must be sent through licensed banks, authorised money transfer operators, or mobile financial services approved by Bangladesh Bank - the 2.5% incentive applies when money is transferred through formal, licensed channels only.
The incentive specifically targets inward wage-earner remittances from Bangladeshi workers employed abroad. Exclusions from the incentive include commercial business proceeds and IT freelancing income.
Both small and large transfers qualify. For amounts below BDT 500,000 (roughly USD 5,000), the process is straightforward with no extra documents expected.
The cash incentive is usually credited automatically at the time of payout.
On the recipient's end, some banks show the original remittance and the government incentive as separate line items, while others display a combined total. Either way, the money arrives in full - the process is designed to be seamless for Bangladeshi customers.
Using a regulated digital provider like ACE Money Transfer ensures that your remittance transactions qualify for the 2.5% incentive, because funds arrive through fully compliant banking and mobile wallet channels. ACE Money Transfer operates in over 100 countries worldwide, making it a growing remittance provider for the global Bangladeshi diaspora.
ACE Money Transfer is UK-based, regulated in multiple jurisdictions, and supports sending money to Bangladesh from popular corridors including the UK, European Union countries, Australia, Canada, and Switzerland. Payout options in Bangladesh include bank deposit, cash pickup at partner branches, and mobile wallet - notably bKash, a leading mobile financial service in Bangladesh that allows users to deposit money into mobile accounts. ACE Money Transfer provides 24/7 service regardless of holidays, so customers can initiate transfers any time.
Creating remittance transactions on ACE is straightforward:
Register or log in using your email, Google, or Apple ID.
Choose Bangladesh as the destination and select your payout method (bank deposit, cash pickup, or mobile wallet).
Enter accurate recipient details including bank account or bKash wallet number, along with your payment reason.
Pay via debit card, credit card, or online bank transfer, then track your money transfer in real time using the reference tracking number.
ACE Money Transfer often runs campaigns like Salam Bangladesh, where ACE Money Transfer announces special offers - including chances to win bigger prizes on top of the 2.5% cash incentive - for customers who send money to Bangladesh during the promotion period.
Beyond the standard 2.5% government incentive, Bangladeshi expatriates can access extra perks from licensed providers. ACE Money Transfer runs its renowned promotion campaigns especially during festive seasons like Eid and national campaigns such as Salam Bangladesh, delivering excellence and service and rewarding experiences for its customers.
These offers typically include:
Free cash bonuses credited in BDT for qualifying remittance transactions - for example, said prizes of BDT 1,000 per eligible transfer during past campaigns.
Lucky draws where frequent senders can win bigger prizes such as smartphones, home appliances, or lump-sum cash rewards.
Referral rewards - Mr Rashid Ashraf and other community leaders have expressed deep gratitude and pledge unwavering support for programmes that benefit Bangladeshi workers through such initiatives, noting the tireless efforts behind making them accessible.
Limited-time fee discounts when sending money online from corridors including the UK, Canada, and Switzerland.
These promotions never replace the 2.5% government cash incentive. Instead, they stack on top of it, so the beneficiary in Bangladesh can receive the transfer amount, the incentive, and any promotional bonus together. That is a meaningful difference for families managing household welfare, training, or education costs.
Always check the latest terms and conditions on ACE Money Transfer's official website or app. Eligibility criteria - minimum send amount, campaign dates, payout method, and the extensive network of partner locations - can vary between offers.
The 2.5% incentive is part of a broader shift toward secure, digital money transfer channels used by the Bangladeshi diaspora. World Bank projects continued growth in remittance flows to South Asia, and Bangladesh sits at the centre of that trend. Choosing formal channels over unregulated channels is not just about the incentive - it is about long-term financial security.
Key advantages of using regulated providers like ACE Money Transfer:
Access to the 2.5% government cash incentive on every eligible transfer, which would remain flat at zero through informal routes.
Transparent exchange rates and fees with no hidden cuts. Unlike weak dollar exchange rates sometimes quoted by informal intermediaries, licensed providers show you exactly what your family receives.
Fast delivery to bank accounts, cash pickup locations, or mobile wallets such as bKash - often same-day or instant.
Security and regulatory benefits matter too:
Transfers are monitored under strict compliance rules, protecting senders and Pakistani expatriates or Bangladeshi workers alike against fraud and money laundering.
Digital receipts make it easier to prove income for visa applications, education sponsorship, or investment purposes in Bangladesh.
Every formal transfer contributes to Bangladesh's foreign exchange reserves, supporting the country's economic stability.
If you have comments or questions about how the flat ratio of 2.5% applies to your situation, check with your receiving bank. The bottom line: choose a regulated provider, set up an online account, and use digital channels consistently so your families receive both the principal amount and the 2.5% incentive on every transfer. Your support makes a difference - not just for your household, but for the millions of Bangladeshi workers whose increased remittance inflows keep the economy moving forward.
