Nagad is a Mobile Financial Service (MFS) provider in Bangladesh, operated by Bangladesh Post Office. It offers a wide range of financial services including cash out, remittance, bill payment and mobile recharge. Nagad is one of the most popular MFS providers in Bangladesh, with over 50 million users. Cash charges various fees for its services. These fees may vary depending on the type of service, the amount of money involved and how the service is accessed.
This article will provide a comprehensive overview of Nagad charges for cash outs, remittances and bank transfers. Nagad, a subsidiary of Bangladesh Post Office, has gained significant popularity for its wide range of services including cash out, remittance and bank transfers. However, like all financial services, Nagad comes with its own charges and fees that users need to be aware of.
What is Nagad?
Nagad is a digital financial services provider in Bangladesh that offers various services through its mobile application and agent network. It was launched in 2018 as a government initiative to promote financial inclusion and build a digital payment ecosystem in the country. Cash is regulated by the Bangladesh Post Office and is part of the government’s vision to digitize financial transactions and reduce cash dependence.
Nagad services include cash-in and cash-out (deposits and withdrawals), sending money to individuals, paying merchants, paying utility bills and even transferring money from Nagad to a bank account. The platform is designed to be user-friendly and accessible to a wide range of people, including those without traditional bank accounts.
Nagad All Charges
Nagad , a mobile financial service provider in Bangladesh, provides various services to its customers. These services include Cash In, Cash Out, Send Money, Receive Money, Mobile Recharge, Bill Payment and more. Nagad charges a fee for some of these services, while others are free. Nagad offers cash through various modes including cash agents, bank accounts and debit cards. Cash charges vary depending on the method used.
Cash in:
Nagad offers a variety of cash in methods, including through Nagad agents, bank accounts, and debit cards. Cash in charges vary depending on the method used.
- Nagad agents: Cash in through Nagad agents is free.
- Bank accounts: Cash in from bank accounts is free for the first 5 transactions each month. After the 5th transaction, there is a charge of Tk 5 per transaction.
- Debit cards: Cash in from debit cards is charged at Tk 10 per transaction.
Cash out:
Nagad Cash out charges are also based on the method used.
- Nagad app: Cash out using the Nagad app costs Tk 12.50 per Tk 1,000.
- Nagad USSD: Cash out using Nagad USSD costs Tk 15 per Tk 1,000.
- Agent : Cash out from Nagad agents costs Tk 15 per Tk 1,000.
Why Use Nagad?
- Send and receive money instantly: You can use Cash to send and receive money instantly to any other Cash user, regardless of the mobile network they are on. It is particularly useful for sending money to family and friends in rural areas who may not have access to traditional banking services.
- Pay Bills Easily: Nagad allows you to pay a wide range of bills including utility bills, mobile phone bills and internet bills. You can use Nagad to pay for government services such as taxes and passport fees.
- Shop online and offline: Cash is accepted at a growing number of merchants across Bangladesh. You can use Nagad to pay for goods and services online and offline, including restaurants, grocery stores and shopping malls.
- Earn profit on your deposits: Nagad offers users the opportunity to earn profit on their deposits. This is a great way to save money and grow your wealth over time.
Nagad Cashout Charges
One of the basic services offered by Nagad is the ability to deposit and withdraw cash through its extensive agent network. Whether you want to convert digital money into cash or deposit cash into your cash account, it’s essential to be aware of the charges involved. Nagad is a Mobile Financial Service (MFS) provider in Bangladesh. It is one of the most popular MFS providers in the country, with over 60 million users. Nagad offers a wide range of services including cash in, cash out, money transfer, bill payment and mobile recharge.
Nagad cash out is the process of withdrawing money from your Nagad account to a bank account or Nagad agent. You can cash out using Nagad app, USSD (*167#) or by visiting a Nagad agent. The Nagad cashout charges vary depending on the method you use to cash out.
- Using the Nagad app: The cashout charge is 12.50 taka per 1,000 taka.
- Using USSD (*167#): The cashout charge is 15 taka per 1,000 taka.
- Visiting a Nagad agent: The cashout charge is 15 taka per 1,000 taka.
How to cash out from Nagad?
To cash out from Nagad, you can use the following methods:
Using the Nagad app:
- Open the Nagad app and log in to your account.
- Tap on the “Cash Out” option.
- Enter the amount of money you want to cash out and select the method you want to use.
- Enter your PIN and tap on the “Cash Out” button.
Using USSD (*167#):
- Dial *167# on your phone.
- Select the “Cash Out” option.
- Enter the amount of money you want to cash out and select the method you want to use.
- Enter your PIN and tap on the “Cash Out” button.
Visiting a Nagad agent:
- Locate the nearest Nagad agent.
- Tell the agent that you want to cash out from Nagad.
- Provide the agent with your Nagad phone number and the amount of money you want to cash out.
- Enter your PIN and the agent will give you the cash.
Cashout charges from cash agents are the same when you use USSD. However, you may be able to negotiate a lower charge with the agent. If you need to cash out a large amount of money, it is more profitable to cash out in large amounts. This will reduce the overall percentage of your money that is paid in cash out charges.
Nagad Limits & Charge
| Services | Limit | Range per TXN | ||||
| TXN Amount (Daily) | TXN Count (Daily) | TXN Amount (monthly) | TXN Count (Monthly) | Min | Max | |
| Send Money (*167#) | 25,000 | 50 | 200,000 | 100 | 10 | 25,000 |
| Send Money (App) | ||||||
| Cash Out (*167#) | 25,000 | 5 | 150,000 | 20 | 50 | 25,000 |
| Cash Out (App) | ||||||
| Cash In | 80,000 | 200 | 300,000 | 600 | 50 | 30,000 |
| Check Balance (*167#) | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable |
| Check Balance (App) | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable | Not Applicable |
| Remittance | 125,000 (Including 2.5% Govt. Incentive) | 15 | 500,000 (Including 2.5% Govt. Incentive) | 60 | 50 | 125,000 (Including 2.5% Govt. Incentive) |
| Mobile Recharge | 100,000 | 50 | 100,000 | 1,500 | For Robi, Airtel, Banglalink and Teletalk minimum 10Tk recharge is allowed.
For ‘Grameenphone’ mobile recharge, minimum 20 Tk. (except recharge offer amounts) recharge is allowed. |
50,000 (For Pre-paid & Skitto mobile recharge – Max. 1,000 taka recharge is allowed) |
| Bank to Nagad | Existing Cash In limits applicable. Cash in limits include any transfer received from Bank, Cash in from Uddokta & Cash in from Card. i.e. Cash In From Uddokta and receive from bank & card will share the same limit. | |||||
| Card to Nagad | ||||||
| Credit Card Bill Payment | No limit applicable | |||||
How to avoid Nagad charges?
Here are some tips to avoid cash charges:
- Take advantage 5 free transactions every month.
- Use Nagad app for cash out and mobile recharge.
- Send money to other Nagad accounts for free.
- Pay bills through Nagad app to avoid extra charges.
- Look for special discounts and promotions on charges.
Last Words
Nagad is a popular MFS provider in Bangladesh that offers a wide range of services including cashout. Cashout charges depend on the method you use to cash out. However, there are a few tips you can follow to save money on cashout charges.