How to Deposit Funds into Your nsave Account from Bangladesh
Depositing funds into your nsave account from Bangladesh involves using international transfer methods, third-party platforms, or payment services. This guide details the supported methods, step-by-step procedures, and key considerations for successful transactions.
Supported Deposit Methods
1. ACH Transfers
ACH transfers are accepted for USD deposits, but they must originate from the United States. To initiate an ACH transfer:
Open the nsave app.
Navigate to Account Details > USD Account > ACH Details.
Share the details with the sender. Ensure they select United States as the destination country and USD as the currency.
ACH deposits are free for the first 10 transfers. A $0.50 USD fee applies from the 11th transfer onwards.
2. SWIFT International Transfers
For larger or international payments, use SWIFT transfers. These steps are essential:
Open the nsave app and go to Account Details > USD Account > SWIFT Details.
Provide these details (including IBAN, SWIFT/BIC, and your name) to your local bank.
Request a USD international SWIFT transfer at your bank's branch or online.
For Prime Bank (Bangladesh):
Provide correspondent bank details from your app if required.
Copy all details precisely to avoid delays.
Note: Transactions must be sent in USD. Local currency (BDT) transfers are not supported. Regional variations in currency support may apply. For instance, stablecoin deposits are restricted in Bangladesh.
3. Payoneer and Global Platforms
Platforms like Payoneer or Wise enable deposits via linked accounts. Follow these steps:
Add your nsave USD (ACH or SWIFT) account details as a recipient bank in Payoneer or Wise.
Withdraw directly from your platform balance to your nsave account.
Using Payoneer may qualify for Bangladesh’s 2.5% remittance incentive.
Supported platforms include:
Payoneer
Upwork
Deel
Unsupported Deposit Methods
Local Bangladeshi Bank Transfers: Direct local transfers in BDT are not supported.
Crypto Deposits: Binance transfers and stablecoin deposits are generally supported but currently not permitted for account holders in Bangladesh.
Card Deposits: Attempting to add funds using debit/credit cards may fail as some banks block these transactions.
Key Considerations
Always verify all account details carefully in the app to prevent errors or delays.
If your bank requires additional information (like foreign addresses or a correspondent bank), use the details provided in the app.
For troubleshooting failed transfers, try alternative methods like Payoneer or Wise.
Related Topics
Understanding SWIFT Transfers: A detailed guide to successful international wire transfers.
Using Payoneer for nsave Deposits: Setup instructions for Payoneer integration.
By utilizing the methods outlined, you can securely and efficiently fund your nsave account from Bangladesh.