BRAC Bank partners with Visa to Launch Visa Direct for Account for Outward Remittance

BRAC Bank has partnered with Visa, a global leader in digital payments, to launch Visa Direct for Account, enabling customers to enjoy a faster, more reliable, and cost-effective way for outward international money transfers.

This strategic collaboration is expected to revolutionise BRAC Bank’s outward remittance capabilities, providing customers with more options for sending funds internationally in a secure way, according to a press release.

The customers will now be able to instantly send out funds to 90+ countries in the world, securely and at very low costs. By bypassing the substantial correspondent bank fees required for conventional payment method, this new channel will also reduce the country’s foreign currency outflow.

The introduction of Visa Direct for Account effectively addresses the limitations of traditional cross-border payment methods, offering substantial benefits to BRAC Bank customers. As an API-based solution, Visa Direct for Account enables safe, efficient, and near-real-time global payments.

Compared to the conventional channel, transactions through Visa Direct for Account are significantly faster and more cost-effective due to its streamlined processing.

Leveraging Visa’s extensive partner network and 24/7 customer support, BRAC Bank customers can now use Visa Direct for Account for permissible outward remittance purposes, including visa fee payments, overseas education expenses, and medical travel abroad.

Commenting on the solution, Md. Shaheen Iqbal CFA, Deputy Managing Director and Head of Treasury & Financial Institutions at BRAC Bank, said, “The partnership underscores BRAC Bank’s strong commitment to enhancing customer experience and driving innovation to serve customers better.

We are redefining global money transfers—making them more accessible, affordable, and secure for our valued customers.  This serves as a major step toward modernising Bangladesh’s outward remittance ecosystem.”

Sabbir Ahmed, Country Manager for Bangladesh, Nepal and Bhutan of Visa, said: “We’re excited to partner with BRAC Bank to bring Visa Direct to more customers in Bangladesh, making outward remittances faster, more secure, and cost-effective.

By simplifying global money movement, this solution offers real benefits — from lower fees to near real-time transfers. It is a step forward in modernising Bangladesh’s cross-border payment ecosystem and expanding access to digital financial tools for individuals and businesses alike.”

Shahrear Zamil, Head of Remittance and Probashi Banking, BRAC Bank, and senior officials from the two organisations were present at the signing ceremony in Dhaka on June 24, 2025.

This strategic move reinforces BRAC Bank’s commitment to delivering cutting-edge digital financial solutions that cater to the evolving needs of its customers and contribute to advancing the country’s digital financial landscape.