Money Transfer: your options to send money to Nepal

October 12, 2018 3,644 Views

It won’t be wrong if say, every fourth or fifth message or status shared over community groups you find would be money transfer advertisement appealing to send money to Nepal with catchy lines like ‘rates are increasing, call/PM for today’s rate’ or something that gives a similar message. Though it’s impressive with little bit higher exchange rates than established and remit companies that are authorized by Nepal Rastra Bank, there is a high risk of losing money as well as converting your hard earned money into non legalized market. If authorities asked for a source for the money they received in Nepal that you transferred to your loved ones they will get into trouble and face legal action for money laundering. Such unofficial money transfer network is popularly known as ‘Hundi’, and sometimes the operator doesn’t pay the amount in Nepal and nor receives your call.

In such, thinking or planning to send money to Nepal for your parents and relatives becomes stressful. Especially during festive seasons, but, if you follow some ideas carefully, you need not worry about how to send money to Nepal for your dear ones. ..

First of all, keep in mind that sending or receiving money to and from Nepal is not at all a daunting task. As we all know that there are various ways to send money to Nepal from Australia, you can make use of these options when you actually transfer the money.

Transferring money to Nepal from Australia is actually cheap and no matter why you are transferring the money there are different ways to do so. Whenever you require to transfer money to Nepal, you must be thinking “how to send money to Nepal without the high costs associated with the banks”. Don’t panic we are here to guide you on same.

There are various options to send money to Nepal

Western Union and MoneyGram are some of the top two options. If the sender an the recipient has a Skrill account, or both have an eSewa account and a bank account in Nepal then money transfer from Australia to Nepal would be hassle-free. For transferring your money in the above-mentioned ways follow the step below:

Firstly, you need to ask the receiver to link his or her Skrill account to the eSewa as well as the bank account.
Next, you need to upload the amount to your Skrill account. This can be done either by your bank account or with the help of credit or debit card.
Then, you need to transfer the money to the recipient’s Skrill account in an instant way.
The recipient will then transfer the money from his or her Skrill account to his eSewa account.
Later, he will transfer the amount from his eSewa account to the bank account and the transaction takes place within an hour.
At the other end, the receiver can then withdraw the money either by cheque or through the ATM card.

Use PayPal

The option of transferring money through PayPal account is only possible if you have a PayPal account.

How to create a PayPal account? You can create your PayPal account by following the above-mentioned link.

So, once you have a PayPal account, you need to link it to your Nepalese bank account. The advantages of having a PayPal account is that you can link various bank cards and the bank account to your PayPal account. So, in this case, to transfer money to Nepal from Australia you need to link your Australian account to your PayPal account. Next, transfer money from your Nepalese account to your PayPal account and then transfer the money from your PayPal account into your Australian bank account. This is the easiest way of transferring money internationally.

Comparing transfer companies when transferring money

Check for competitive exchange rates.
The transfer methods must be convenient and flexible
See to that you check properly for low and minimum transferring amounts
Also, the customer services must be most reliable.

Sending money to Nepal in case of emergency

Suppose, you are running out of cash, what to do in this case? There must be some emergency cash transfer options to Nepal but how do you know that? We have listed a few options those are really helpful.

Few companies like MoneyGram and Western Union always allowed to pick you up some cash from various location. One can send it from Australia and you can have the money within 10 minutes. With the help of a transfer service website, one can even send you money online.
There are some credit card companies those give you a small number of funds whenever you misplace your card or when it is stolen. The cash here helps you to pay for the essentials in place of cash that you take from the bank during the replacement time of your card. In order to organize this, you need to contact your bank and convey the information about the loss of your card.
Also if you have a travel insurance plan, then it provides you with some emergency cash in cases like a medical emergency. If you are a victim of some theft then you need to also provide a police report along with the proof of emergency.

As you know the various transfer options from Australia to Nepal, the next thing you need to know is the required documents for money transfer. Those include: