Nagad is a very dynamic and secure digital financial service in Bangladesh that operates under the authority of the Bangladesh Post Office. It is an attached department of the Ministry of Post and Telecommunication, Bangladesh, and operated by Third Wave Technologies Limited. Nagad is the new version of the previously introduced Postal Cash Card and Electronic Money Transfer System of the Bangladesh Post Office. Nagad was first introduced on 11 November 2018. Tanvir A Mishuk is the founder managing director of Nagad.
Nagar aims to lead the Digital Financial Service (DFS) revolution in Bangladesh and it provides day-to-day financial transactions for the people of Bangladesh. According to the World Bank’s Global Findex 2017, “only 50% of Bangladeshis had mobile banking and/ or financial institution accounts as of 2017, of which only 21.2% have mobile money accounts.” That means a large number of people in Bangladesh are out of banking facilities and they require reliable service to assist their financial needs. With facilities like cash-in, cash-out, people to people (P2P) money transfer, mobile top-ups, Nagad is to improve the lives of people by enabling them with financial flexibility.
How To Register/Open Nagad Account?
Opening a Nagad account is very simple. You can register your Nagad account at home with the Nagad app or by visiting the nearest uddokta center. To open an account at uddokta center, you have to bring:
1. Mobile phone
2. NID original copy and photocopy
3. One copy of passport size photograph
Submit all the documents to the officer and fill the KYC form according to the provided instructions. Once you have filled the form, submit it to the officer, and he will do the rest of the procedures.
You can also open a Nagad account from your home. Follow these easy steps:
1. First, download the Nagad App from Play Store
2. Now open the app and follow the instructions
3. Select your National Identity card (NID) type
4. Take a picture and upload both sides of your National Identity Card
5. Take a selfie
6. Read terms and condition
7. Provide your signature
Cash In With Nagad
You can cash in/ deposit any amount at any Nagad Uddokta point. Follow these steps to deposit money or Cash-in to your Nagad account:
1. Go to the nearest Nagad Uddokta point
2. Tell the agent about the amount of money you want to cash in
3. Now write down your Nagad account number and the amount in the agent register
4. Pay the amount of money to the agent
5. Now the Agent will send the balance to your Nagad Account
6. Finally, you will receive a confirmation SMS with Transaction ID
Cash-Out With Nagad
You can easily cash out money from your Nagad account. Visit the nearest Nagad uddokta point to cash out money.
1. First, ask the Agent for withdrawal of an amount from your Nagad account
2. Dial *167# and go to your Nagad Mobile Menu
3. Now choose “Cash-Out”
4. Now choose the “From Uddokta” option
5. Enter the agent’s Nagad account number
6. Enter the amount you want to cash out
7. Now enter your Nagad Mobile Menu PIN
8. Both You and the agent will receive a confirmation message on the mobile
9. Then the agent will hands over money to you
Send Money (Person To Person) With Nagad
The “send money” service of Nagad allows you to transfer money from your Nagad account to another Nagad account, which is very convenient. Follow these easy steps:
1. Dial *167# to go to the NAgad Mobile Menu
2. Choose “Send Money”
3. Enter the Nagad number of the recipient account where you want to send money
4. Enter the amount you want to send
5. Enter a reference about the transaction
6. Now enter your Nagad PIN to confirm the transaction
7. Once the transaction is complete, you will receive a confirmation SMS
Mobile Recharge By Nagad
Nagad has a “mobile recharge” option that allows a Nagad user to recharge his mobile number or any other mobile number. Follow these easy steps to recharge the mobile number:
1. Go to your Nagad Mobile Menu by dialing *167#
2. Choose “Mobile Recharge”
3. Now choose the operator
4. Now choose the connection type
5. Enter the mobile number you want to recharge
6. Enter the recharge amount
7. Enter your Nagad Mobile Menu PIN to confirm
8. You will receive a confirmation SMS with Transaction ID
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