# Placid Express

> Placid Express is a privately held international money transfer company founded in 1996. Operating as Placid NK Corporation, it connects individual senders with bank deposits, cash pickup and selected mobile-wallet payouts, while offering agents and other remittance businesses access to its payout network and software.

- **Founded:** 1996
- **Headquarters:** Westbury, United States
- **Founders:** Dr. Kamal U. Ahmed (Co-founder), Mohammed H. Rashid (Co-founder; Director (reported September 2024))
- **Products:** International money transfers, spotCash!, spotCash by Placid Express mobile app, Join the Network, Money transfer agent program
- **Notable:** A company release reports receipt of Bangladesh Bank’s Best Remittance Provider award on August 1, 2015., Plaid’s 2018 customer story reports instant approvals above 80% for ACH-funded transfers after integration; this is a historical partner-reported result., Established a multi-country payout network spanning digital channels and physical bank/agent collection.

## Products & services

- **International money transfers** — Transfers through online, mobile and agent channels, with bank deposit, cash pickup and selected wallet payouts depending on the corridor.
- **spotCash!** — Cash pickup from participating banks without selecting one specific pickup branch; trademark records document first commercial use in October 2007.
- **spotCash by Placid Express mobile app** — iPhone app focused on Bangladesh transfers, including bank accounts, cash pickup and mobile-wallet destinations. First App Store release listed in April 2020.
- **Join the Network** — Wholesale access to the company’s disbursement network, single-hop payout connections and optional proprietary money transfer software.
- **Money transfer agent program** — Small businesses act as Placid agents and earn commissions and bonuses; the public company description does not specify compensation amounts.

## Achievements

- A company release reports receipt of Bangladesh Bank’s Best Remittance Provider award on August 1, 2015.
- Plaid’s 2018 customer story reports instant approvals above 80% for ACH-funded transfers after integration; this is a historical partner-reported result.
- Established a multi-country payout network spanning digital channels and physical bank/agent collection.

## Latest updates

- **2025-01** — A new SPOTCASH! trademark application is listed as filed January 16, 2025 (serial 99002600); a filing is not evidence of a product launch.
- **2024-09** — Shahjalal Islami Bank signed a remittance drawing agreement with Placid Express on September 3.
- **2023-08** — Eastern Bank and Midland Bank remittance partnerships were publicly reported.

## Links

- Website: https://www.placid.net/
- LinkedIn: https://www.linkedin.com/company/placid-express
- Twitter/X: https://twitter.com/placidexpress
- Facebook: https://www.facebook.com/placidexpress

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Profile page: https://yespress.io/placid-express
Published by YesPress — https://yespress.io
Last updated: 2026-10-27