Many people have inquired about the requirement of passport endorsement against the annual travel quota limit when making purchases, paying bills, or receiving cash in foreign currency from Bangladesh. To clarify this, we will provide an overview of the Travel.
According to the guidelines of the Bangladesh Bank, a Bangladeshi citizen can spend up to USD 12,000 (or its equivalent in other foreign currencies) per calendar year using a valid passport. This limit is known as the Annual Travel Quota.
Key Conditions for Using Foreign Currency
1. Valid Passport: To use foreign currency, the individual must possess a valid passport.
2. Mandatory Endorsement: Whenever an individual purchases cash dollars or activates foreign transactions on a debit/credit card, the transaction must be endorsed on the passport.
After each transaction, this information is recorded in the passport as per Bangladesh Bank regulations.
The USD 12,000 Limit Applies Across All Banks and Cards, Even if a person holds multiple credit or debit cards across different banks or purchases cash dollars multiple times, their total foreign currency expenditure cannot exceed USD 12,000 per year. This limit is applicable from January 1 to December 31 of each calendar year.
Where and How Can the Travel Quota Be Used?
1. International Travel: Flight tickets, hotel bookings, shopping at foreign stores, and online shopping.
2. Debit/Credit Cards: Subscriptions, online courses, or other payments on foreign websites.
3. Cash Dollars: Essential expenses during international travel.
Why is Endorsement Mandatory?
Bangladesh Bank monitors foreign currency transactions.
Endorsement ensures that an individual does not exceed the annual limit of USD 12,000.
Important Warning
Exceeding the quota violates Bangladesh Bank regulations.
Travelers and individuals making online transactions should always keep track of their usage.
If you travel frequently or make international transactions, ensure that your passport and endorsements are properly updated.
For further details and guidance, visit any Authorized Dealer (AD) branch of your nearest bank.