The process to send money to Nepal is pretty regular. The family members living abroad make use of money transfer service providers so that they can support their families back home and help them take care of their educational, medical and everyday expenses. But have you ever wondered what time is actually the best for you to send money back home? Is it the beginning of the month or the end? If you are looking for the answer to this question, keep reading because this article will cover this topic for you.
The General Trend of Sending Money:
The general trend is that a majority of people send money to Nepal online either during the beginning or the ending of every month. This is because most of the immigrants receive their salaries during this time frame. So, what does it mean for the service providers? It indicates that they too are the busiest during the beginning and the ending of every month. Since the service providers are busy and occupied, it is likely that the payments may be delayed or the online system may be down. Therefore, the best idea is to avoid following the general trend and waiting for the middle of the month to send money back home.
Use The Weekend for Online Money Transfer
The online money transfer services of commendable service providers like ACE Money Transfer can be availed throughout the week, even over the weekend. It is a great idea to use weekends to send money back home. Why? Because you won’t have to rush from the office to carry out the transaction, moreover, most people send money during the working days. So the service providers are usually free over the weekend and can accommodate your needs properly.
Not Over Holidays:
Holidays and festivals are the busiest days not only for us but for the money transfer service providers as well. They have a large number of people to accommodate during the festive season and it is natural for the transfer fee to hike and increase. Therefore, it is highly recommended that one avoids money transfer over holidays. This mistake will cost you a huge sum in the name of money transfer fee.
Watch The Money Exchange Rate
The exchange rate is a significant factor that should determine whether the time is right for you to send money or not. Before initiating any international money transfer transaction, have a look at the exchange rate of the currency. If the exchange rate is high, go for the transaction as you will get maximum value for the money that you transfer. However, if you come to know that the exchange rate is low, it is recommended that you wait for a couple of days for it to stabilize again.
Sending money to Nepal at the right time is very important for both senders and receivers. The right time will ensure that you get the maximum return for the money transfer, have a hassle free experience and do not have to spend a large sum of money on the transaction.