One of the biggest digital money transferring service Xoom, a PayPal service, was launched in Bangladesh on Thursday.
The prime minister’s ICT adviser Sajeeb Wazed Joy inaugurated its operations for Bangladeshis at PayPal and Xoom and Freelancer Conference in Dhaka.
Joy, who was a chief guest at programme, said in a conference, “The Bangladesh expatriates have been sending their remittances through various channels at the cost of high charges and hassles.”
“From now on people will be able to send money through a PayPal account within 2 hours,” he said.
Addressing the program, state minister forIT Junaid Ahmed Palak said, “Bangladesh is second in the world in terms of freelancing and the country’s freelancers have long been waiting for this service.”
He did add that this service will only enable people to receive money from abroad. They cannot send money abroad. However, they are working on bringing PayPal’s full-fledged services here, he said.
Paypal is now available in 203 countries around the world. In 29 of these countries, Paypal provide full fledged services while in 103 they only have inbound services.
Days ago, Paypal account owners were not able to send money to Bangladesh from other countries. From now on, people can send money to Bangladesh using their Paypal account.
The feeis $4.99 for sending less or equal to $999.99, but for $1,000 or higher it’s tottally free.
The Xoom service is already available to use with Sonali Bank, Social Islami Bank, Pubali Bank, Janata Bank, Rupali Bank, Uttara Bank, Agrani Bank, The City Bank, and Islami Bank. However Xoom provide money transfer services from the US to different countries.