Q 1. Is Sonali Exchange a branch of Sonali Bank?
Answer: No. It is a USA corporation for money transfer (remittance services).
Q 2. Who is the owner of SECI?
Answer: Sonali Bank PLC of Bangladesh is the sole owner of Sonali Exchange (SECI).
Q 3. Who regulates SECI in the USA?
Answer: The respective Banking Departments of the licensed States and FinCEN regulate SECI.
Q 4. In which States of the USA SECI is licensed?
Answer: Now, SECI is licensed in 6 states of the USA. The licensed States are New York, New Jersey, Michigan, Georgia, Maryland and Florida.
Q 5. Who can use Sonali Exchange (SECI) services?
Answer: Any natural person (above 18 years) living in the USA (in licensed states) who wants to send money to Bangladesh may use SECI services subject to complying with related laws and regulations.
Q 6. What are the primary requirements for sending money to Bangladesh online?
Answer: Download the Sonali Exchange (SECI) App from the Google Play Store or Apple Store, Register yourself, and input your Debit card information & receiver details. Tap the SEND button. (For details, visit the User Manual).
Q 7. How much money can I send to Bangladesh in a single transaction using this App?
Answer: You can send a maximum of $3000.00 online in a single transaction and $8000.00 within thirty days. If you need more to send, please call our office at 212-808-0790.
Q 8. How much money can I send to Bangladesh in a single transaction using Counter services?
Answer: You can send any amount to Bangladesh using our counter service (subject to submission of proper documents). Please call at any branch location for details.
Q 9. How many days does it take to get the money deposited in a Bank Account in Bangladesh?
Answer: The money will be deposited to the beneficiary account within 0- 3 days. 0 (Zero) means the same day.
Q 10. Who will get the 2.50% Incentive Bonus subsidized by the Bangladesh Government?
Answer: Your beneficiary in Bangladesh will get a 2.50% bonus. The Bonus will be deposited to his Bank Account or Bkash/ Nagad (MFS) Account automatically or In cash from the Sonali Bank counter (for Cash Pickup transactions).
Q 11. How can I get my money back against my canceled transaction?
Answer: If you need to cancel a transaction, please call 212-808-0790 (for online transactions) and the respective branch for counter service/ check transactions. If the amount is deposited to the account or the money has already been withdrawn by the beneficiary, the refund will be subject to the consent of the account holder. Generally, we will pay the refund by check within 7-10 days of your request.
Q 12. What is the fee schedule of SECI?
Answer: At present, SECI charges a $0 fee to the senders for promotional purposes.
The regular fee structure is as follows:
For transaction amounts of $1.00 to $500.00 $2.00,
$501.00 to $1000.00 $4.00,
$1001.00 to $2000.00 $6.00,
$2001.00 to above $8.00
Q 13. Is it safe to make transactions through this SECI system?
Answer: It is safe and secure. SECI preserves confidential customer data as per the applicable privacy law of the state.
Q 14. What documents must I show/ submit to SECI for making a transaction?
Answer: Enter your personal information as per the Registration form. Upload your State ID (Driver’s License) and Social Security Number (SSN). We will verify your SSN online. After verification, your account will be automatically activated. If you exceed $25,000.00 within the last 365 days, please call at 212-808-0790 for more information.
Q 16. Where and how will I report a problem as a customer of SECI?
Answer: Please call 212-808-0790 or email at firstname.lastname@example.org. If you call or email after 09.00 pm, we will reply the following day.
Q 17. Does SECI report my transaction history to the IRS or any other authority?
Answer: No. However, any regulated organization is bound to disclose information to the concerned government authorities, including the IRS, if asked for.
Q 18. Do you share data with third parties?
Answer: Yes. SECI shares some data with third-party service providers. They are legally tied under a Service-level Agreement and confidentiality agreement with SECI. We ensure your safety first.
Q 19. Do I need a separate registration (account) to use the App if I am an existing customer of SECI?
Answer: Yes. You need a separate registration for the online App.
Q 20. Can I get a statement of my previous transactions?
Answer: You may get your detailed statements from our Corporate office or, in some situations, from your nearest branch. Please call at the respective phone number or email at email@example.com. Mention your phone number/account number as a search tool.
WE UNDERSTAND IF YOU MAY HAVE MORE QUESTIONS.
Please email us at firstname.lastname@example.org or call at 212-808-0790 or any Branch.
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