How to transfer money to Nepal without the high costs associated with banks.
Sending money to and receiving money from Nepal doesn’t need to be an expensive affair. Today, there are many different ways to transfer money between Nepal and Australia for a variety of reasons. If you conduct business between the two nations, send money back to relatives living in Nepal, or need some emergency cash during a holiday in the ‘roof of the world’, this guide will explain how to do it without spending too much on fees, or losing out on poor exchange rates.
International money transfer services to Nepal
Rates last updated October 17th, 2014
Product Name
Description
Min. Transfer Amount
Transfer Speed
Transfer Methods
Online Transfer Fee
Citibank Plus Transaction Account
A transaction account with free transfers to any country and no foreign transaction or international ATM withdrawal fees.
AUD $0
3 - 5 days
Online, Phone, Agent, Bank Account to Bank Account
AUD $0
Go to site
More
Banks versus money transfer services when transferring money to Nepal
While most Australian banks will allow you to make money transfers to Nepal, most of them won’t actually offer you the ability to send Nepalese Rupees, meaning you might have to send another currency which can be exchanged for Nepalese Rupees by the receiving bank, or you you may have to use a dedicated money transfer service. Here’s a comparison between two services who allow transfers from AUD to NPR.
Case study - Nischal’s family transfers
Nischal has recently moved to Australia to start a new life close to the beach. His parents and siblings are still in Nepal, and occasionally he likes to send them monetary gifts to help out with their living expenses and as birthday gifts.
Nischal has an Australian bank account with one of the big four banks, so he does some research to find out how much he would receive for sending over $1,000 AUD.
Money Transfer Service 1
Money Transfer Service 2
Exchange rate
1 AUD = 83.96 NPR
1 AUD = 82.96 NPR
Transfer fee
13.99 AUD
9 AUD
Amount received for $1000 AUD (in Nepalese Rupees)
83,965 NPR
82,958.09 NPR
Transfer time
Cash pick up - almost immediately
Bank transfer - 1 - 3 working days
10 minutes
Transfer options
Cash pickup, bank transfer
Cash pickup
Difference of
+ 1006.91 NPR
As Nischal sees, the difference between the two transfers in terms of options, exchange rates and transfer fees can add up, especially as he’s planning on conducting at least two more of these transfers throughout the year. Nishal would need to think about whether the 1006.91 NPR difference is worth the difference in turnaround time.
How to compare transfer companies when transferring money to Nepal
As Nischal’s example shows, you should compare a number of transfer options before sending your money to Nepal. When you do send money over, you can compare transfer services by looking at:
Exchange rates. Some transfer services will offer a competitive exchange rate but will charge higher transfer fees, whereas other services might give you a poorer exchange rate and charge minimal transfer fees. Some providers might offer no transfer fees over a certain transfer amount, or reduced fees the larger the transfer amount. Keep this in mind when comparing.
Pick up methods. Some transfer services will offer cash pickup, which might be important if you’re sending the money to a travelling relative who needs emergency cash, or a relative who lives in Nepal and who doesn’t have a bank account. Other methods might include bank account transfers.
Transfer methods. Some services will allow you to transfer money online, over the phone, or at specific kiosks, as is the case with MoneyGram and 7-Eleven stores. Ensure you choose a service which has a convenient transfer method for you.
Transfer time. If you need to send funds in a hurry, you might want to compare services which allow cash pickup, as these can be sent almost immediately. Transfers to bank accounts usually take between one and five days depending on the service, so be sure to factor this in.
Minimum transfer amounts. While most transfer services have large maximum limits, some will have minimum transfer amounts, which can be as small as $1 AUD or as large as $1000 AUD. Keep this in mind if you’re planning on making a small transfer.
Customer service. If you’ll be using the service regularly and/or making regular transfers, it might be good to compare services with good customer service options. These include phone, email and live chat support to help you along the way.
How to send money to Nepal from Australia
As Nepalese Rupees are an exotic currency, many Australian Banks will not allow you to transfer Australian dollars into this currency. Some banks and money transfer services such as MoneyGram will still allow you to send money to Nepal, although this may have to be sent in AUD, which would then need to be converted by the recipient’s bank.
This means you might have to use a dedicated money transfer service. Below are some of the providers which allow you to conduct transfers from AUD to NPR.
Citibank - The Citibank Plus Transaction Account allows you to make transfers to any account in any country in the world for free.
worldremit - You can send funds to Nepal using bank transfers or cash pickups.
OrbitRemit - OrbitRemit offers you the ability to make recurring payments to Nepal.
Western Union - You can send money to Nepal which can be picked up at a Western Union branch or send it to your recipient’s mobile.
Emergency cash transfers to Nepal
If you’ve lost your wallet and require emergency cash in Nepal, there are a few methods you can use to get some sent to you.
A transfer service with cash pick up options. Companies like Western Union and MoneyGram allow you to pick up cash from designated locations (mentioned in the section below). This can be sent from Australia and made available within 10 minutes. You can have money sent to you online using the transfer service’s website.
Emergency cash through your credit card company. Some credit card companies will give you a small amount of funds if your card is reported as lost or stolen. This cash is designed to help you pay for essentials in the time taken for your bank to send you a replacement card. To organise this, contact your bank using their dedicated card theft/loss phone line.
Travel insurance. Your travel insurance plan might provide you with emergency cash in the event of a medical emergency, theft or other circumstances. In most cases you’ll have to provide proof of the emergency, including police reports and more if theft occurred. Always check the insurance Product Disclosure Statements (PDS) before travelling to ensure you’ll be covered.
Cash pickup locations in Nepal
Below are some of the cash pickup locations available to those sending money via MoneyGram and Western Union. Ensure you call up or visit the location prior to receiving your cash to ensure they have enough on hand. When going to pick up cash at a money transfer service, you’ll usually have to provide your reference number, details of the transfer, and some identification, so ensure you bring your passport.
Western Union
Kathmandu
Bank of Asia Nepal
Branch Office Ka Ma Na Pa, Ward No 33, Dilibazar
Open from 9:15am to 6:15pm Monday to Sunday
+977-1-4434365
Bank of Kathmandu
Branch Office Ka Ma Na Pa, Ward No 10, New Baneshwor
Open 10am to 5pm everyday except Saturday
+977-1-4460699
Pokhara
Agricultural Development Bank
Branch Office Pokhara Municipality, Ward No 9, Newroad Kaski
Open 9:15am to 6:15pm Monday to Sunday
+977-61-539126
H and B Development Bank
Branch Office Pokhara Municipality, Ward No 10, Rambazar
Open 9:15am to 6:15pm Monday to Sunday
+977-61-432450
MoneyGram
Kathmandu
Everest Bank Maitidevi
Near Seto Pul
Open 9am to 5pm Monday to Sunday
+977-14-445172
Nic Asia - Thankot
Thankot - 8 Thankot Buspark
Open 8am to 6pm Monday to Friday and Sunday
Open 10am to 12:30pm Saturday
Pokhara
Nepal Bangladesh Bank
BP Marga Chiple Dhunga Pokhara Kaski
Open 9:30am to 5pm Monday to Friday, and Sundays
Open 12am to 12am Saturday
Civil Bank
Sabhagriha Chowk Phewa Marg
Open 8am to 6pm Monday to Sunday
Tips for picking up cash in Nepal
The Department of Foreign Affairs and Trade (DFAT) states that travellers visiting Nepal should ‘exercise a high degree of caution’. You should closely monitor your belongings and security, and know that local strikes can occur without notice, meaning the businesses you’re hoping to pick up money from may be closed. Ensure you don’t pick up cash alone, and always visit the DFAT website for updates and information regarding safety and security.
How to send money to Nepal
Your reason for sending money to Nepal will dictate your next steps. If you want to send money via any of the services mentioned above, you’ll generally need to open an account first.
To do this, you’ll usually need to supply your:
Contact details
Address
Date of birth
Driver’s Licence number
Once you conduct a transfer, you’ll usually receive documentation, and depending on the service, a trackable receipt so you know at what stage in the transfer your money is at.
Sending money to Nepal from Australia isn't difficult and doesn't need to be expensive if you conduct the proper research. Always view and take into account all of your options before choosing one method.
What's next?
Find out how to send money to India
Compare money transfer services
Find out tips for sending money to family overseas
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