Bangladesh has 13 licensed mobile financial services providers. bKash, Nagad and Rocket grab the headlines, but the smaller players have niche use-cases worth knowing.
Upay (UCB)
- By United Commercial Bank.
- 0.99% cash-out (lowest in the market).
- Limited agent network but growing.
- Best for: UCB account holders, cost-conscious users.
SureCash
- Backed by Rupali Bank consortium.
- Strong school fee collection network.
- 1.5% cash-out.
- Best for: Parents paying school fees in govt-affiliated institutions.
MyCash (Mercantile Bank)
- Smaller but reliable.
- Best for: Mercantile bank account holders.
OK Wallet (ONE Bank)
- Modern interface.
- Bill payment focus.
- Best for: ONE Bank customers.
Should you use these?
Most users only need 1–2 MFS providers. Use the smaller ones only if (a) your bank partners with them giving free transfers, or (b) you receive specific payments through them (school fee, stipend). For everyday use, bKash + Nagad covers 95% of needs.
Track them all in Moneybag
Add each as a separate wallet in Moneybag. Even if balance is small, having visibility prevents ‘forgotten money’ sitting unused.
Which has the lowest fees?+
Upay at 0.99% cash-out, currently the cheapest in the market.
Are smaller MFS safe?+
All licensed providers are regulated by Bangladesh Bank with the same security standards. Safety is identical.
Can I keep money across all of them?+
Yes, but unnecessary. Pick 1–2 primary + 1 specialized. Excess float earns nothing.
Ready to take control of your money?
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