Mobile money transfer is a revolutionary step, introduced by the mobile remittance service providers in the country .It has given the opportunity for millions of migrant workers to transfer their hard-earning money effortlessly, efficiently and promptly. Even a few days ago, money transfer agencies were very rare in the rural areas and it was also very tough to use bank or agencies. Most of the time, the sender had to rely on the fellow workers, traveling home. Banks or agencies take 4/5 days or sometimes more. The introduction of mobile remittance service has brought that down to a few minutes.
The pioneer of mRemittance (mobile remittance service) for Bangladesh were two local banks – Dhaka Bank Ltd and Eastern Bank Ltd with collaboration of one of the most prominent mobile operator, Banglalink . The process of this service is very simple to execute .It allows expatriates to deposit money with associating banks and specifies the subscriber name in Bangladesh who will be receiving the money .The service delivers a text message to the recipient, who can receive the money from any Banglalink remittance point by showing their mobile phone and a form of personal information. The designated bank will also have to use the Banglalink network.