Written by The Banking Post
Bangladesh Bank has allowed banks to facilitate outward remittances for visa bonds and refundable security deposits, easing a key hurdle for overseas travel applicants.
In a circular issued on May 11, 2026, the central bank said banks can now remit funds on behalf of individuals where embassies or authorities require financial guarantees as part of visa processing.
The move is aimed at reducing complications faced by Bangladeshi travellers, particularly in countries where visa bonds or security deposits are mandatory.
Under the new guidelines, banks may also issue international or virtual cards in the applicant’s name, preloaded with the required amount. Existing cardholders can reload their international cards for the same purpose, provided the funds are used strictly for visa-related requirements.
The facility will be available against balances held in Exporters’ Retention Quota (ERQ) accounts, Resident Foreign Currency Deposit (RFCD) accounts, or through international cards issued against such accounts, in line with prevailing foreign exchange rules.
Bankers say the decision will streamline visa processing and improve access to required financial arrangements, especially for destinations that require upfront guarantees as part of their visa procedures.
