How to Send money to NepalJohn October 1, 2019 0 COMMENTS
Money sending online is becoming a trend. Many services are providing their best to send money to Nepal. A few years back, there is no possibility of sending money online. People have to go through a far difficult way to send their money to their loved ones. The companies are providing the most reasonable prices to send money to Nepal online.
There are several ways to send money online to Nepal. More than 50% of Nepalese are working abroad. They are using informal channels to send money back to their homes due to high charges on formal channels. In the age of digitalization, the future of Nepalese is looking to be secure in terms of sending their money back to their home to their loved ones.
According to the World Bank report, the cost of remitting to Nepal is almost lower than the global average of 7.01%. With almost an end to the old traditional ways of sending money, still Nepal today stands at least far away from the rest of the world. Always be sure about the NPR rate, transfer fees, security and the speed of transfer.
Factor to keep in your eye before sending money to Nepal
The evolution of the exchange rate is uncertain, but you need to follow it. You should have a good idea of the optimization of your money to get back against your currency. Frequently check out the exchange rate and transfer your money when the NPR rate gets to be a stable state.
Online Providers are offering much better rates than physical providers. Some examples are as below:
- 36,860 NPR InstaRem
- 37,063 NPR Skrill
- 36,452 NPR Transferwise
- 36,343 NPR WorldRemit
- 35,797 NPR Azimo
How to send money from the Netherland to Nepal?
You want to send money online from Netherland to Nepal you should now the best money transfer services at the cheapest rates. To transfer your euros to a bank account in rupees in Nepal, Skrill is the most leading option to choose with zero transfer fees and a good EUR-NPR exchange rate. The current rate is 1 Eur=123.685. This is a much better rate than other services.
Two more service providers are the best solution.
If you want to get the money in cash for Nepal than go for WorldRemit having zero transfer fees and good EUR-NPR exchange rate.1 EUR=120.5168 NPR.
ACE Money Transfer Instant Transfer money to Nepal
ACE is one of the leading brands in sending money online all over the world. Transfer money to Nepal and get the cash pickups instantly using ACE from the nearest destination. Some banks such as Araniko Development Bank LTD Nepal, Century Commercial Bank, Limited Nepal Siddhartha Bank Nepal, Best Remit Nepal, Citizens Bank International Ltd Nepal, and Mega Bank Nepal are the ACE services provider banks.
Once you create the transaction to transfer money to Nepal, it will be securely deposited to the receiver’s account. Exchange rates of ACE for sending money online to Nepal are tracked easily by using the ACE money transfer app. If you are the registered customer, the updates will be provided to your Facebook feed. ACE is providing peerless remittance experience for its customers in Nepal.
Best online transfer service for Nepal
There is a huge network of online transfer service for Nepal. More providers are on the running road.
Xoom is one of the fastest providers of sending money online to Nepal. They are linked with Nepal Investment Bank, Himalayan Bank, Prabhu Bank, Laxmi bank and many more to facilitate bank deposits to their customers. They are covering major countries like the USA, Canada, and the UK.
They have cash pickups locations across 4600 covering Mechi to Mikhail. The maximum amount you can send through Xoom to Nepal is USD 9,000 per transfer.
It is best for tech-savvy consumers. It is the fastest remittance online transfer service to Nepal. Nepalese in the USA can send money safely without leaving their homes and offices. All the recipients in Nepal will receive the money cash instantly by agent locations. The money will also be deposited into their bank accounts within 24 hours. For bank accounts, you can send up to USD 5,000 per transfer. There is a maximum amount of cash pickups almost of NPR 300,000.
MoneyDart is one of the best US-based money Remittance Company founded in 1996.MoneyDart offers the best exchange rate and zero transfer fees. It provides the online transaction to Nepal in real-time.
Ria Money Transfer
RIA is another big hand to provide the online service having almost 30 years of experience. It is listed among the top ones due to the cheapest, fastest and safest way to send money. 350,000 locations in 149 countries are on the network of RIA. RIA also offers bill payment, mobile top apps, prepaid debit cards or debit card facilities to the customer. Nepalese can send up to USD 2,999 of transfer from the USA using their bank accounts or by agent locations. To send a higher amount from the USA to Nepal it will take a maximum of four days.
Muncha Money Transfer
Muncha Money Transfer is licensed and authorized by Nepal Rashtra Bank. Muncha Money Transfer is targeted to provide quality service at an affordable price. It is offering ACH pay mode and Nepalese in the US can easily send up to USD 10,000 per transaction. Normally it takes about 48 hours for the money to get credited to the receiver’s account in Nepal. The Muncha Money Transfer offers the first transaction at zero fees.
TransFast is serving for over 25 years in the online world. TransFast delivers savings and peace of mind to millions of customers in over 120 countries. Online transfer service for Nepal is one of the biggest targets for the Transfast. Nepali immigrants in the USA can easily send up to USD 500 online through online banking, debit or credit cards. For new customers using the bank accounts, the transaction will take within 3-4 business days.
Nepal received almost US $8.210 Million as foreign remittance from all over the world in 2018. It ranks to be the 4th on remittance to GDP ratio. The ratio of users is increased in Nepal. The major aim of all the transfer money services to Nepal is based on secure and authorized access so the customer can easily track their transactions.