Learn how to send money to Nepal
You might be wondering what is the best way to send money to Nepal in cheap, fast and safe way so that you can get best exchange rate while paying less commission. So, we have come up with a tip on how to send money to Nepal. You can choose from any of following ways:
How to send large money to Nepal
You can use wire transfer and SWIFT service to send huge amount of money that exceeds more than ten thousand dollars or you can opt to remittance companies if the amount is small.
Given below is the list of Remittance companies in Nepal.
Western Union is one of the largest money transfer companies with branches around the world. So, this is the reliable money transfer agent to send and receive money from abroad.
However, it is tedious to send large amount of money that is more than USD 2500 from Western Union Money Transfer as you need to justify the transaction, present the bank statement etc. So, use Western Union only if you are transferring small amount. What is good about Western Union is that you can track your money.
Use service from Moneygram for transferring money in between 1000 to 2000 Dollar for small fee. Remember to carry your ID. You can also download Moneygram App in your iphone to calculate the fee.
It can be used to send money from USA and Europe to Nepal. It does not charge fee for transfer of money worth USD 2500 or more. You have to pay 9.99 Dollar as fee for transfer in between USD 101 and USD 2,499 while if your transfer amount is in between USD 1 to USD 100, the charge is 6.99 Dollar. They offer free first transaction and free direct bank deposits in many banks of Nepal.
Prabhu is a Remittance Company with outlets and agents in many parts of the world. Prabhu Remit can be used to send money to Nepal from Malaysia, Qatar, Saudi Arabia, India, Kuwait, Bahrain, United Kingdom, USA, UAE, Denmark and Israel. You can learn about Agents HERE.
Use Remittance service of Local Banks
If sending money is not a one time act for you and you need to frequently send money to Nepal, then you can use Remittance service of Local Banks as they provide better exchange rate and charge less commission in comparison to Western Union.
Hundi Money Transfer in Nepal
Although Hundi is in practice, it is not a legal way of money transfer. So, it is not safe and you are not advised to choose hundi service to send money to Nepal.