PayPal is one of the largest and most popular online payment systems in the world. PayPal is widely used all around the world for international payments to buy products and services. This service has made international transactions very easy for everyone. Most countries around the world allow payments through PayPal. However, is PayPal available in Nepal? In this article, we will talk about the status of PayPal in Nepal.
Status and Availability of PayPal in Nepal
Why do you need PayPal in Nepal?
In recent times, the internet has made it possible for people residing in Nepal itself to do tasks of foreign clients. You can complete their work from your own home and receive payments from them. However, they use online payment systems for payments and PayPal is the most popular online payment system. Also, popular online shopping platforms like Amazon and eBay accepts Paypal for their payment option. So, if we want to buy any products, then we need such online payment options that are accepted around the world.
Is PayPal available in Nepal?
No. PayPal is not actually available in Nepal. This is because of the Nepal Rastra Bank (NRB) Policy that does not allow money transactions in foreign currency. As a result, you cannot link Nepali Bank Accounts to PayPal which means you can neither load balance to your PayPal account from Nepali Bank nor can you transfer the balance from your PayPal to Nepali banks.
Can you make a PayPal account from Nepal?
Well, technically, you can. However, you cannot link your Nepali bank accounts or address while creating PayPal account. Instead, you need to have a bank account and address of the countries where PayPal is available.
Why does not PayPal accept Nepali MasterCard and VISA cards?
Although PayPal official site shows that it accepts MasterCard and VISA cards, it does not accept Nepali MasterCard or VISA cards. This is because the cards of Nepal are not valid internationally. So, although it accepts other MasterCard and Visa cards, it does not support Nepali cards.
How can I receive international payments in Nepal?
Although you cannot make a PayPal account in Nepal, you can create your account by adding details of your relatives or acquaintances residing in other countries where PayPal is available. Then, you can receive payments in that account, and then you can actually pay or receive equivalent Nepali cash from the respective acquaintance.
Thoughts
Although PayPal is a very useful international payment solution, we are not able to use it here from Nepal itself. Due to this issue, many freelancers from Nepal are facing problems for their payment solutions. we hope the NRB brings about the necessary changes in the policy so that it becomes possible in Nepal as well.
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