Bangladesh frequently suffers from acute riverbank erosions and, as a result, every year a large number of people internally migrate to new places mainly in search of livelihoods. While very few studies focus on the multifaceted nature of vulnerability experienced from riverbank erosions, the present study examines to what extent different drivers of vulnerability affect socio-economically disadvantaged internal migrants living in riverbank erosion-prone areas in Bangladesh. Empirical evidence from two north-western riverbank erosion-prone districts in Bangladesh demonstrates that the disadvantaged internal migrants and their household members were exposed to a range of vulnerabilities connected to economic, institutional, infrastructural, environmental, and social drivers. It is contended that evidently there are different types of vulnerability some of which are perceived to be more severe than others in the study areas. This study, therefore, suggests extending some specific support programs including income generation schemes, access to institutional credit for the landless, improved inexpensive means of transportation, and improved communication. This article also proposes improving rural infrastructure including irrigation facilities, inexpensive transportation means for agricultural inputs or other farming materials, reasonable prices for daily necessities, and improved health care benefits.