New Guidelines for Passport Endorsement Fees for Bangladeshis

Money changers can now charge a maximum fee of 300 BDT for endorsing foreign currency on the passports of Bangladeshi citizens traveling abroad. The Foreign Exchange Policy Department of Bangladesh Bank issued this directive on Wednesday, January 7.

The directive states that, in accordance with GFET 2018, money changers are permitted to sell foreign notes, coins, and traveler's checks to outbound Bangladeshi citizens under their annual travel allowance. However, it is mandatory to have the seal and signature of the concerned official on the passenger's passport and air ticket.

The Bangladesh Bank directive further specifies that the fee will be capped at a maximum of 300 BDT, regardless of the circumstances. This means the fee remains the same no matter how high the endorsement amount is. Money changers must display this fee clearly in a visible location at their place of business. Additionally, providing a receipt after collecting the fee from the customer and maintaining accurate records is mandatory.

Other parts of the previous guidelines remain unchanged. Through this move, Bangladesh Bank aims to make the transaction process more transparent and regulated for citizens traveling abroad.