Sonali Bank launches “Blaze” service to deposit the money of the expatriates in five seconds

Sonali Bank is going to launch a remittance service named Blaze to bring the money of the expatriates to the country in five seconds.

On Monday (August 23), the largest state-owned bank of the country announced this information.

On Tuesday (August 24), Sajeeb Wazed, Prime Minister’s ICT Affairs Adviser, inaugurated this service as a chief guest on a virtual platform. 

According to Sonali Bank, with the launch of this service, migrant workers working from any part of the world will be able to send their hard-earned money digitally through the banking channel in just five seconds to his or her family in Bangladesh.

About 35 banks in Bangladesh will be able to provide the Blaze service.

This service will be available 24/7.  

Sonali Bank, Homepay and ITCL are jointly launching this service.

Zunaid Ahmed Palak, State Minister for ICT, was the special guest at the inauguration ceremony of the service.

This initiative will make the lives of migrant workers and their family members easier and better. This will also decrease the tendency of sending the money through hundi. At the same time, it will help make digital Bangladesh a cashless society.

What is Blaze?

It is a digital service, working 24 hours, 7 days a week, through which Bangladeshi migrant workers can send remittance from abroad which will be deposited to the beneficiaries’ Bangladesh bank account in just five seconds. Remittance will be deposited to the account of the receivers through this service in a joint initiative of Sonali Bank Limited, Homepay LLC and Information Technology Consultants Limited (ITCL).

Method of depositing money:

Initially, users of app or web based international money transfer services, such as Skrill, Tranglo (Malaysia), Taptap Send etc. will have to log into their wallet account or app in abroad and press the send button after providing all the necessary information of the beneficiary’s bank account in Bangladesh. Immediately, Sonali Bank will receive all the information pertaining to the beneficiary’s remittance.

If the beneficiary is the customer of Sonali Bank Limited, remittance will be deposited to the bank account of the customer within five seconds with 2% incentive. If the beneficiary is a customer of another bank, money will be deposited to the respective bank account of the beneficiary through ITCL platform with 2% incentive. Both the sender and beneficiary of the remittance will get the information of the money deposited instantly. At this stage, remittance of up to Tk 5 lakh can be sent through Blaze.