Bangladesh Offshore Banking Units

[andorra]

Thanks ok i will try open an account i will be test lab mouse great‌

 

[Cloudbanck]

Yeah, Im thinking of trying too. Basic due diligence gives that City Bank has 133‌ branches and was founded in 1983, so it's not a fly by night operation. Their‍ app even has 4.4 stars on google play.

Im wondering though if one gets a⁠ debit card. In the FAQ it says:

"4. What type of account can a customer⁤ open?
A customer can open a Fixed Deposit account in foreign currency (USD or EUR)⁣ under this program.

12. Can a customer open a Fixed deposit account without opening a⁢ current account?
To open a Fixed deposit account, opening a current account is a mandatory︀ requirement.

17. Can a customer avail Credit card or Debit card against OBU account?
Since the OBU account is opened for the purpose of Fixed Deposit only, the bank will︁ not issue any debit/credit card against this account. "

Ok, so an OBU account is︂ fixed deposit account without card, but to have a fixed deposit account one must have︃ a current account, and I assume a current account comes with a card.

 

[ncracy]

Those OBUs require to appoint at least one "nominee" for an account. Does anyone understand‌ what they mean by it? Can an account opener be a nominee?

 

[JackAlabama]

think of it as a heir in case you die or smth. Its‍ an unusual concept indeed for most places.

 

[Clank]

Person Who will take over the account if you die

 

[Clank]

They don’t offer debit cards. There is one other bank that offers︆ with 100k deposit.

 

[netqqw]

Do you mind sharing which bank that might be?

 

[JackAlabama]

Id say having to put down 100k usd for just getting a debit card is‌ quite excessive to ask for.

 

[Why]

I have just check Standard Chartered, they have a nice page on Non-res‌ FC Deposit account, but no link to signup for one. Do any of these bank‍ allow online registration?

 

[Why]

Quick update: I downloaded the SC app to try to apply︅ for an OBU account with them. The link is not working on the app. So︆ I called and they told me they are not taking any new account application. No︇ reason given. Did anyone manage to open an OBU account in Bangladesh online recently with︈ any other financial institution?

 

[ncracy]

I tried applying online with Eastern Bank PLC, but their⁣ web form fails in the end with "method POST is not allowed here" error.
Also applied online with City Bank PLC, got an acknowledgement email and now waiting for the⁢ result.

 

[Cloudbanck]

Third world banks gonna do third world things

 

[Clank]

So my account got approved in City Bank but the customer service is horrible,⁤ I call them to ask how to enable digital banking and they just hang the⁣ call or tell me to wait one week.

 

[Sols]

Here's an incomplete list of banks that seem to have launched new OBUs under the‌ 2024 regime. Expect things to change if this new OBU thing works out for Bangladesh.‍

Al-Arafah Islami Bank	Offshore / International Banking Account - Al-Arafah Islami Bank PLC.
Bank Asia⁠	Bank Asia Limited
City Bank	Offshore Fixed Deposit - City Bank PLC | Open in⁤ USD or EURO
Combank	https://www.combank.net.bd/offshore-banking-2/
Dhaka Bank	Off-Shore Banking - Dhaka Bank | Excellence in⁣ Banking
Eastern Bank	Eastern Bank PLC. | Offshore Banking
EXIM Bank	EXIM Bank | OBU⁢
IFIC	https://www.ificbank.com.bd/obu
Jamuna Bank	https://jamunabankbd.com/international-banking/
Mercantile Bank	https://www.mblbd.com/offshorebanking
Midland Bank	https://www.midlandbankbd.net/offshore-banking/
Modhumoti	https://www.modhumotibankltd.com/offshore-banking/
NCC Bank︀	https://www.nccbank.com.bd/NccbServices/offshore
NRBC	https://www.nrbcommercialbank.com/obu
Prime Bank	https://www.primebank.com.bd/offshore-banking
SBAC	https://www.sbacbank.com/international-banking/offshore-banking
Shahjalal Islami Bank	https://sjiblbd.com/obu.php
SIBL	https://www.siblbd.com/remittance/offshore-banking-unit
Southeast Bank	https://www.southeastbank.com.bd/?page=offshore_banking
UCB	https://www.ucb.com.bd/offshore-banking/foreignCurrencyAccount
Uttara Bank	https://www.uttarabank-bd.com/home/off_shore

Most of the other banks either haven't updated︁ their old style OBUs to the new regime or don't seem to have a meaningful︂ OBU at all (yet).

 

[Why]

Wow amazing, big thank you

 

[Clank]

I have contacted several banks and this one also is the best one in terms of‌ customer service and fees.

It has the highest rating in the country (AAA).

https://www.dutchbanglabank.com/offshorebanking/index.html

 

[pipona]

If anyone successfully opens a corporate account, please post your experiences here. This is intriguing.‌

 

[ncracy]

Their web interface fails when uploading docs.

 

[Why]

Worked fine for‌ me, just make sure to check the file size, they have a limit.

 

[Forester]

Yes, it's this “a card with 100k only” (but‌ you might not need a card)...
However, I appreciate the really detailed information about the‍ account opening process, actually nice. Never seen this.

Generally, these islamic banks
https://www.aibl.com.bd/deposit/international-banking-account/https://sjiblbd.com/obu.phphttps://www.eximbankbd.com/remittance/obuare IMO worth checking – IMO, as islamic banks are more conservative by nature when⁠ handling their funds (no crazy loans etc.) they might be more safe...