The best way to send money from Canada to Nepal

The exchange rate determines the price you’ll pay for Nepalese Rupee when sending Canadian Dollar to Nepal.

The rate between the Canadian Dollar and Nepalese Rupee is currently 95.8756. TalkRemit offers the best exchange from CAD-NPR.

The CAD-NPR exchange rate is always moving.

Sometimes, waiting a day or two can help you get more NPR for the same amount of Canadian Dollar. Using a forward contract that also allows you to lock in an agreed exchange rate between Canada and Nepal.

Sending money via a Bank Transfer is the recommended option for sending money from Canada to Nepal.

The company offering the best bank transfer price is TalkRemit.

This Bank Transfer to Nepal is 0.3% cheaper than the second-best option in the market.

Canada and Nepal have different regulations and you should ensure any provider you use to send or receive between the countries is regulated.

Our directory of financial regulators worldwide of key regulatory bodies highlights who can aid in keeping your money safe for money transfers between Canada and Nepal.

Some services between Canada and Nepal have minimum or maximum thresholds on how much you can transfer. This is applies when receiving money in Nepal as well.

Companies will offer different rates and fees for different transfer amounts. For regular transfers to Nepal, use Wise. The combination of rates and fees when sending from Canada to Nepal is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Canada, or entering Nepal. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive Nepalese Rupee in Nepal. This includes a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers serving transfers from Canada to Nepal will offer every method for incoming Nepalese Rupee, so it’s best to check ahead of time.

One of the more common ways to transfer from Canada into Nepalese Rupee is directly into a bank account. Wise is the best company for bank transfers between Canada and Nepal.

And if you need cash right away, check if cash pickup is an option for transfers between Canada and Nepal.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like TalkRemit.

When signing up to and sending Canadian Dollar to Nepal, through a money transfer company, you will have to verify your ID.

The precise documents you need will vary and in some cases you will need more than one.

For the most part however, in Canada this will be a government issued ID such as a passport or driver's license. In Nepal it will be similar, although this should only be needed if you are opening a new account in Nepal, or collecting in cash. Sending to an existing bank account in Nepal shouldn’t require any additional ID checks.

Large transactions between Canada and Nepal, are subject to additional checks. A provider may ask you for proof of address or may want to carry out a proof of funds check.

One of the reasons Wise has scored so highly for transfers to Nepal is their easy sign up process in Canada.

When sending large amounts of money between Canada and Nepal there will potentially be a tax declaration to consider.

Some transfers into Nepalese Rupee may need to be reported to tax authorities in Nepal, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in Nepal based on age, income and a few other elements. When in doubt, please contact a tax professional in Canada or Nepal to discuss your personal circumstances.