BRAC Bank, VeloxPays team up for app-based remittance transfer from Australia

BRAC Bank PLC has signed a partnership agreement with VeloxPays Pty Limited, a remittance service provider in Australia, to offer a convenient app-based remittance experience for Bangladeshi wage earners living in Australia.

Regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC), VeloxPays provides a secure and user-friendly platform that allows customers to send money home with ease.

Its mobile app and web platform are designed for convenience, enabling users to transfer funds anytime, anywhere, with just a few clicks.

Shahrear Zamil, head of remittance and probashi banking at BRAC Bank PLC, and Md Riaj Uddin, founder and CEO of VeloxPays Pty Limited, signed the agreement at the bank's head office in Dhaka recently, according to a press release.

Commenting on the partnership, Md Shaheen Iqbal, deputy managing director and head of treasury, financial institutions, and corporate & institutional banking at BRAC Bank PLC, said, "Through this partnership, we aim to provide Bangladeshi wage earners abroad with reliable, affordable, and secure remittance channels."

"This initiative reinforces our commitment to better serving our customers and supporting international remittance inflows to the country," he added.

With seamless API integration, remittances from VeloxPays to BRAC Bank will now be fully automated, real-time, and secure.

This collaboration enables expatriate Bangladeshis in Australia to send their hard-earned remittances easily and safely to BRAC Bank account holders, thereby enhancing their overall banking experience, the release added.