Transfer Money Online to Nepal
Many people from Nepal travel to a foreign country for studies and employment purposes. The people going for employment need to support their families financially in Nepal by sending them money. Some of them send the money in the hands of their friends traveling to Nepal but the problem is it will take time to reach Nepal as you may not find friends immediately who is traveling. So this way is not much reliable when your family is in need of money in a short time. So Nowadays there are various services from which you can transfer money online in a short period. In this article, we are going to discuss how to transfer money online in Nepal.
5 Best Ways To Transfer Money Online to Nepal
Below are the 5 best ways to transfer money online to Nepal.
Xoom is a PayPal service which is one of the fastest ways of transferring money to Nepal. They have collaborated with various banks in Nepal such as a Himalayan bank, Prabhu bank, Nepal Investment bank, Laxmi bank, and many more. The maximum transfer amount is USD 9000 per transfer. The sender can send money using their bank accounts, credit card, or debit card.
World Remit is one of the first services that promoted digital remittance. It offers zero hidden fees, low transaction, and competitive exchange rates which are shown upfront to the user. Users can transfer Money Online USD 5000 per transfer for bank deposit and USD 3000,000 for the cash pick-up option. Also, the receiver gets the deposit in the bank or from the agent location within 24 hours.
Western Union is one of the most popular money transfer services as it has expanded along 200 countries and territories worldwide. By using Western Union online transfer, USD 5000 can be transferred per transfer. It will take 1 day to transfer if the transfer is using a debit card or credit card and 4 days if it is done using Online bank accounts.
Founded in 1996 and powered by UAE exchange, Moneydart is the largest US-based money remittance company. It offers competitive rates and zero transfer fees. Users can send USD 5000USD per transfer using Moneydart.
According to the central bank, Nepal received remittances amounting to $5.19 billion, for the first eight months of the current fiscal year 2019-20 that began in mid-July, which is a slight increase of 1.7 percent compared to last year.
Money gram is the second-largest money transfer service provider which have been serving immigrants for more than 3 decades. The company operates in 200 countries with a global network of about 347,000 agent offices The maximum amount of users can transfer from Moneygram at a time is USD 6000. Also, the receiver will receive the payment within minutes.
Is PayPal illegal in Nepal?
yes, it is because Nepal central bank avoids any Nepali citizen without a foreign visa to get an international debit or credit card.
What are the major sources of remittance to Nepal?
The major sources of remittance to Nepal are from the US, India, and Gulf countries.