Nagad
Postal-linked mobile money.
- Who holds it
- The company itself — it holds a full banking licence — Mobile money license (Bangladesh Bank MFS, with Bangladesh Post Office); 2024 digital-bank license under review.
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Nagad’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · underbanked |
| HQ | Dhaka, BD |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Mobile money license (Bangladesh Bank MFS, with Bangladesh Post Office); 2024 digital-bank license under review |
| Card | No card |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Asia |
Verified links: official site ↗
Common questions about Nagad
What is Nagad?
Nagad is a fiat neobank built for underbanked, headquartered in Dhaka, BD and founded in 2019. Your money is held custodially, so Nagad or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Mobile money license (Bangladesh Bank MFS, with Bangladesh Post Office); 2024 digital-bank license under review).
Does Nagad have a card, and where can you use it?
It issues no card of its own. It is available in Asia.
Does Nagad require KYC?
Yes. Nagad requires identity verification (KYC) to open an account, as a licensed bank.
Head-to-head
Peers
Wise · KakaoBank · WeBank · bKash · Maya · GCash
Nagad appears in
Neobanks that hold their own banking license (132) · Neobanks available in Asia (132) · Neobanks built for the underbanked (23) · Neobanks with no card of their own (67)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.