Send Money To Nepal

Find the best transfer rates to send money to Nepal with Savvy.

Last updated on August 2nd, 2022 at 04:34 pm by Cate Cook

Compare with Savvy and find the best way to send money to Nepal

With a population of more than 1.5 million people, Kathmandu is the busy capital of Nepal and is one of the most popular destinations for money transfers from Australia.  If you’re wanting to send money anywhere in Nepal from Australia, Savvy has partnered with a range of trusted money transfer services to bring you the best exchange rates and lowest fees available.  Whatever your money needs, start your transfer with Savvy here today.

site-logos Xe
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From $0 100
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Xe is a 2021 Canstar Award Winner and offers the best exchange rates, low to no fees so customers save the most money

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site-logos OFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $250 1-3 days $0 50+
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OFX offers speed, security and simplicity with no hidden fees, total transparency and real people support 24/7

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site-logos Wise Money Transfer
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From 0.41% 53
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Send money cheaper and easier with Wise with no hidden fees.

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site-logos TorFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $200 0-2 days $0 35
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Excellent exchange rates with no transfer fees. Trusted by over 55,000 customers. Awarded Canstar’s 5 star rating 2018-2021.

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site-logos SingX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 30
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SingX offers live exchange rates with no mark ups and only charge a nominal fee shown to you upfront

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site-logos Remitly
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 21
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countries

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More about how to send money to Nepal

What are my options for sending money to Nepal from Australia?

There’s a wide range of ways to get money from Australia to Nepal.  Which method you use will be determined largely by how quickly you want the money to arrive in Nepal. Your choices include the following methods:

  • use a specialist money transfer service – probably your fastest and cheapest option to send money overseas. International transfer companies are experts at what they do, so they’ll charge the lowest fees and offer the best exchange rate for your transfer – plus they’ll get your money to Nepal within 0-2 days.
  • a bank transfer through your regular bank – a slower and more expensive option which can take up to five business days to deliver the money to its destination and will likely cost more to complete than a specialist provider.
  • a cash transfer – one of the fastest, but also most expensive, options to get money to Nepal immediately, this allows you to send money to be picked up from a destination in cash. Only very few providers offer this service.
  • post a cheque or international money order – the slowest and most risky option, as cheques can get lost in the post and never arrive at their destination.
  • use Apple Pay or a similar digital wallet – you risk being charged very high international money transfer fees by the credit card linked to your Apple Pay wallet if you use this to pay for your transfer through your chosen service. The fees charged by credit card providers can be as high as 3% to 5% of the transfer amount.
  • a phone top-up – sending money via a telecommunications company to recharge a pre-paid mobile SIM card, which can be a useful option if your recipient doesn’t have a bank account. If the phone company is compatible with your phone company, all you need is the mobile number of your recipient to send the recharge amount.  Be aware that you’ll have no say in the exchange rate you receive when the phone recharge or top-up is made, so this can prove to be an expensive option.

Your best option to send money to Nepal from Australia is to use an international money transfer provider.  Savvy is partnered with a range of money transfer companies, so you can choose from a range of trusted and reliable services and find the best one for your money transfer. Compare your options then get your transfer underway with Savvy today.

How much will it cost me to send money to Nepal?

International money transfer companies charge fees for their services in one of three ways: 

Set fee charge

If you use a bank to send money overseas, expect to pay set fees from $6 up to $30 or more to complete an international transfer.  However, money transfer companies are often a cheaper option than banks, with flat fees ranging from $6 to $15 (with an average of around $10 in most cases). Flat fee structures can be a cheaper option if you’re sending a large amount of money overseas.

Percentage fee charge

Other companies base their charge on a percentage of the transfer amount, ranging from 0.4% up to 0.65% or more.  This is far cheaper than the 3% to 5% which credit cards will charge for an international transfer.  In general terms, a percentage fee will be the cheapest option to transfer smaller amounts.  For example, a provider charging a fee of 0.5% of your transfer amount would only cost you $1.50 if you were transferring $300, but $25 if you were transferring $5,000.

Markup on exchange rate

Another way that banks and transfer companies make their money is by charging a markup on the exchange rate offered.  When comparing your money transfer options, it’s important to have an idea of what is known as the ‘mid-market rate’. This is the best rate you can hope to get when transferring between two currencies, so the closer to the mid-market rate you get, the better the deal is.

Some companies will charge a combination of these methods, such as a small fee and a small markup on the exchange rate.  Others charge no fees at all but their markup is slightly higher.  Banks tend to have the highest fees and lowest exchange rates, which is why they’re generally far more expensive than international money transfer companies.

The following table demonstrates how the currency exchange rate and fees charged affect the outcome of how much will be received in Nepal if you send $300:

Provider Fee type charged Fees Exchange rate offered Total received
Transfer Provider 1
Set fee - no markup
$15
88.22
रु25,142.7
Transfer Provider 2
Percentage fee - small markup
$6.44
88.05
रु25,849.96
Transfer Provider 3
No fee - higher markup
$0
86.85
रु26,055
Transfer Provider 4
Fee plus markup
$20
86.50
रु24,220

 *Note: all fees are subtracted from transfer amount before conversion to Nepalese rupees.

In this example, the company offering no fees but a higher markup would be the best option to use if you’re comparing providers.

How else should I compare transfer companies when sending money to Nepal?

There are several other factors to compare when looking at international transfer services side-by-side. We know that fees and the currency exchange rate are vitally important.  These are some other factors to take into account and compare:

  • Countries and currencies – not all companies deal in all currencies or offer a service to all countries, so make sure the one you choose does deal in Nepalese rupees and can conduct a transfer to Nepal
  • Payment methods – decide whether you wish to pay by direct debit from your bank account, through a digital wallet such as Apple Pay, using a credit card, a debit card with EFTPOS or in cash. Which method you choose will also determine which transfer company is best for you, as not all companies will accept cash or credit cards or Apple Pay
  • Payment limits – check whether the company has any minimum or maximum limits for transfers and whether these fit in with your needs. For example, specialist provider OFX has a minimum transfer limit of $250, while other providers set theirs at just $1.  Maximum limits also vary between providers, ranging from a daily limit of $5,000 up to large transfers which may have a cap of $500,000 or more.
  • Receival method – think about how you want the money to be received in Nepal: transferred directly into a bank account, collected in cash or paid into a digital wallet? Not all services offer all these options, with a transfer from one bank account to another the most common option.  When comparing, check the service you choose offers the transfer method you need.
  • Currency exchange tools – some companies offer useful tools on their websites or mobile apps which can help you keep track of the current exchange rate and send alerts when a certain rate has been reached. You might also look at a limit order, which allows you to set a preferred rate and only send your transfer through once your rate is reached. Such exchange rate tools and others on offer can help you to get the best exchange rate if you’re intending to make regular transfers.

How long will it take to transfer my money to Nepal?

Specialist transfer companies can get your money to Nepal very quickly, with some offering an instant transfer service, while others can offer same-day transfers or those completed within two days. However, there are several factors that can impact how long your transfer takes beyond simply which provider you pick.

The time you make your transfer can have a strong effect on how quickly it arrives at its destination, as money transfers may not be available on weekends.  Since Nepal is around four hours behind Australian time, transfers made in the early afternoon in Australia should reach Nepal in time for the start of the working day.  For example, if you were to send your $300 to Nepal from Australia late on a Friday night, it may not be processed before the weekend and so may be delayed.  Remember that weekends, public holidays, spiritual festivals and normal business hours can all delay transfers.

Be mindful that if you transfer over $10,000 from Australia to another country, that transfer must be reported to AUSTRAC, the Australian Government’s anti-money-laundering agency.  Your chosen international money transfer company will fill in the AUSTRAC compliance form on your behalf, but you may be required to provide additional information about your transfer to verify the genuine source of the money. If this is the case, it may be delayed slightly when reaching its destination.

How do I send money to Nepal?

You’ll need to open an account with the transfer company of your choice before sending money overseas.  The process involved is:

  1. Contact the international money transfer provider through Savvy
  2. Provide the requested details – usually your name and email address. You’ll be sent a link and instructions on how to set up an account or download the mobile app for that particular company.
  3. Follow all the prompts and set up your account. You may be asked to provide proof of your identity when first setting up your international transfer account, so have either your passport or driver’s licence handy when starting the process.
  4. Once your account is set up, enter the details of the person you wish to send money to and the amount. You’ll be prompted to provide any bank account details needed.
  5. You’ll receive a confirmation notification when your transfer has been sent. Make sure you keep this as a receipt in case there are any queries about the transfer in the future.

Top tips when making international transfers to Nepal

Compare exchange rates before sending

Exchange rates can change very quickly, so it’s worth getting to know which direction Nepalese rupees are going in relation to Australian dollars and comparing rates several times before sending off your transfer. You can do that with Savvy, as our panel of transfer providers always offer highly competitive exchange rates on their transfers.

Get a rate guarantee

Make sure the exchange rate you’re quoted is guaranteed and won’t change before you hit the ‘send’ button.  Many companies will offer a rate guarantee for up to 24 hours from the time you’re given a quote, but others may extend this to 36 hours.

Consider an international account

An international account will allow you to store money in different currencies and send it overseas when required. Instead of sending smaller amounts regularly, it could be worthwhile exchanging a larger sum of money and storing it as rupees in your international account before sending them to Nepal when required. This could offer protection and a cheaper way of transferring money to Nepal if the exchange rate is heading in a negative direction.

Use rate alerts to tell you when the exchange rate is right

If you’re watching the exchange rate move up and down, you may decide you want to make your transfer when a certain limit is reached.  You can use rate alerts to let you know when your desired exchange rate has been reached on the international money market, giving you the heads up that it’s time to complete your transfer at the best rate possible.

Frequently asked questions about international money transfers to Nepal

Is it safe to transfer money online to Nepal?

Using any one of Savvy’s trusted partners is a highly safe and secure option, as all the transfer service providers are reputable and licenced.  You can have peace of mind using one of Savvy’s partners knowing you’re using a trusted, reputable company whose encryption systems help protect your information from falling into the wrong hands.

Can I send money to Nepal if my recipient doesn’t have a bank account?

Yes – instant cash pickup services are an option to send money to someone in Kathmandu, Patan-Lalitpur or other major cities without a bank account. Your recipient will need to tell you exactly where their nearest international money transfer office is located and what form of ID they’ll be providing at that destination.  Be sure you have their exact name as it is written on their ID, as they’ll have to show it and have it match up with the name you’ve provided before they are given the cash. 

Another option is to use a phone recharge or top-up through a mobile phone operator.  All you need is your recipient’s mobile number and you may be able to transfer money to their phone account instantly. However, using either of these two methods will likely garner high fees and lesser exchange rates, so it’ll prove to be a more expensive option to send money to Nepal.

Can I get a discount if I send money to Nepal regularly?

If you’re doing business with a company in Kathmandu regularly or if you intend to send money to Nepal frequently for another reason, it’s worth speaking to a business account manager at one of the international transfer service companies which provide a business service.  They may be able to offer you a discounted fee rate or lock in your exchange rate through a forward contract for up to 12 months in advance.

Is it possible to make a free money transfer to Nepal?

Yes – several companies offer free transfers for the first deal when you sign up as an incentive to attract new clients. However, once you’ve made your first free transfer, you’ll have to pay the standard price for subsequent transfers.  Others offer fee-free transfers if your amount is over a certain limit, such as $10,000.

Will my receiver have to pay to get their money?

This will depend on what method you use to send your money to Nepal.  Some banks will charge people a receiving fee if you send your money via a traditional bank, which can be as high as $30. However, using a specialist money transfer company means you can be sure there won’t be any fees to receive the money in Nepal (as long as the international transfer provider doesn’t use the traditional banking system).

What should I do if my transfer doesn’t arrive?

You’ll be provided with an email or notification when your transfer is sent.  Make sure you keep this notification in a safe place, as you will need the transfer confirmation number or tracking number if there’s an issue with your funds not arriving at their destination.  Contact customer service if there is such an issue.  Many transfer services provide a tracking tool as part of their online platform or mobile app, so once you log in, you can enter your tracking number and find out exactly where your funds are.