Bangladesh Bank (BB) has eased overseas visa processing for Bangladeshi travellers by allowing banks to remit funds abroad for visa bonds and refundable security deposits required by foreign embassies and immigration authorities.
Under a circular issued on Monday, banks can now officially send money on behalf of visa applicants where foreign missions require financial guarantees as part of the visa approval process.
The move is expected to reduce complications faced by students, tourists, business travellers, and overseas job seekers, who previously struggled to arrange such payments through formal banking channels.
Bankers say many applicants previously depended on relatives abroad, third-party arrangements, or informal channels due to the lack of clear guidelines for processing visa bond-related payments through banks.
According to the circular, banks can now remit the required funds directly abroad or issue international and virtual cards preloaded with the amount needed for visa bonds or refundable security deposits.
Existing international cardholders under travel entitlement facilities will also be allowed to reload their cards for the same purpose, provided the funds are used solely for visa-related requirements.
The facility will be available against balances maintained in Exporters’ Retention Quota (ERQ) accounts, Resident Foreign Currency Deposit (RFCD) accounts, or through international cards issued against such accounts, subject to prevailing foreign exchange regulations.
Central bank officials said the latest instruction formally brings visa bond payments under regulated banking channels, making the process more transparent and easier for applicants.
They added that the policy would particularly benefit applicants to countries where embassies or immigration authorities seek temporary financial guarantees to discourage visa overstays or ensure return compliance.
