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Send Money To Nepal

This multicultural country has been known as the Federal Democratic Republic of Nepal since 2008, with seven provinces spanning the highest part of the Himalayan mountain ranges which covers an array of biocultural diversity. Due to the proximity and pre-arranged friendship treaties, India and China remain close allies of Nepal and a high number of international money transfers originated from these countries. On this page we will be looking at the fastest, most reliable choices for sending money to Nepal.

Updated: 01/10/2021
Read time: 18 minutes
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Sending money to Nepal

Nepal’s full name is the Federal Democratic Republic of Nepal and it is a landlocked country in South Asia, bordering China and India. Located in the Himalayas it is home to Mount Everest and many other of the world’s largest mountains. The capital of Kathmandu is famous for its religious monuments such as awe-inspiring temples and parts of the ancient Silk Road.

It is estimated roughly 10% of the population have emigrated overseas to pursue jobs abroad. Due to the fact Nepalese citizens have full access to the Indian job market, without the need for a work visa, many individuals head across the border to India to work. In the second quarter of 2021 the central bank, Nepal Rastra Bank, reported a 16.5% increase in global remittances, the majority of which was sent from Nepali workers living overseas. 

What currency is used in Nepal?

Introduced in 1932, the Nepalese Rupee (NPR) is the official legal tender of Nepal, and it is subdivided into 100 paisa. Although it is not the same as, and should not be confused with, the Indian rupee (INR), NPR is pegged to INR and has been since 1994. What this means is the central bank – the Nepal Rastra Bank – has fixed the exchange rate to the Indian rupee, in a bid to achieve long-term predictability and a stabilised conversion rate.

When dealing with cash, Nepalese rupees exist in denominations of 1, 2, 5 and 10 coins; bank notes are denominated into 10, 20, 50, 100, 500 and 1000 rupees respectively. 

How To Send Money To Nepal

Sending money to Nepal is simple and easy. Follow these steps to get started.

Find a Trusted Provider

Our comparison table for sending money to internationally looks at your specific transfer needs to and from any country in the world. Use this to find a provider that provides the best all-round service for you.

Register with your chosen provider

Most providers will be completely free to sign up to, simply requiring your name, address and contact information. In most cases, you’ll also need to upload a picture of a valid photo ID to verify your identity.

Transfer Money

As soon as you're ready, you can start sending money online.

Ways To Send And Receive Money In Nepal

There are multiple ways to easily send and receive money in Nepal but these will largely depend on the provider you decide to use. Below you will find everything you need to know about sending and receiving money.

Sending Money To Nepal
Receiving Money In Nepal

Ways to Send Money to Nepal

Nepal is a relatively small economy with a sizable population, 29.3 million as of 2017. However, over 30 per cent of the economy is dependent on remittances. Places as remote as Cheskam in the northeast have recently been receiving more money from their loved ones in the diaspora.

There are several options to use when sending money home to your family, relatives and friends. The formal are banks and money transfer operators (MTOs).

Bank Wire Transfers

Nepal has close to 250 financial institutions licenced by the Nepal Rastra Bank (the central bank of Nepal). However, not every financial institution has the capacity and mandate to provide wire transfer services, but most of them do, including the 28 Class A commercial banks.

About 60% of Nepalese are unbanked. This phenomenon makes wire transfers the least preferred way of sending money to the country. It takes about 3 to 5 days for a typical wire transfer from Qatar to get to a Nepalese in Kathmandu. The cost of sending is relatively higher compared to money transfer operators.

These inconveniences have made Nepalese abroad to seek for alternative ways of sending money to their loved ones back home.

Money Transfer Services

Money transfer service providers are the dominant players in Nepal’s transfer corridors. There are some providers such as Arabian Exchange Company that predominantly operate on the Gulf remittance corridors. Others like Western Union, MoneyGram, Xoom, WorlRemit, Xpress Money, Ria, and Small World are allover the world.

Money transfer operators require that you signup for an account, pay for the transfer using a debit card, credit card, bank debit (ACH), bank transfer or cash deposit. Once your account is loaded, you can transfer to a bank account or cash pickup agent through the website, mobile app or at a store.

When sending money to Nepal using MTOs, you can choose any of the following methods depending on your preferences and interests.

Bank transfers – You can deposit money directly into the recipient’s account in Nepal. Of course, this method serves the banked population. Most people in areas such as Province 2, the most multidimensionally poor province in Nepal, do not have access to banking facilities. For this reason,  bank transfers whether from MTOs to banks or bank to bank, are not commonly used in Nepal.

Cash Pickup- This method of sending money to Nepal resonates well with Nepalese abroad. The advantage it has is that the recipients get their money in a ready-to-use form. For the unbanked populations, this is convenient. Providers such as Western Union, Ooredoo Mobile Money (OMM), Arabian Exchange Company, MoneyGram, Xoom, Ria and others have enjoyed high transfer volumes to Nepal in the past couple of years.

Mobile Wallet – If you are sending from Qatar to Nepal, you can use OMM mobile wallet service to deposit directly to the recipient’s mobile in Nepal. This method is convenient for small amounts. However, the maximum you can send per day is 10,000 Qatari riyals equivalent to $2,740.

Some Nepalese use Informal Value Transfer Systems such as Hundi to send money home. Such channels commonly used in the Korea-Nepal corridor, are illegal and not regulated by the formal banking system. Using them may expose you to unnecessary risks and fraud.

What’s Needed to Send Money to Nepal

When sending money to Nepal, money transfer service providers will require that you provide some information. The information varies from one provider to another and the method of sending money you choose. That said, the following are some of the details that you’ll have to provide.

  • Your government-issued I.D. You could also provide your passport, social security card or driving licence depending on your jurisdiction
  • The amount of money you want to send
  • The recipient’s name as it appears on their Nepal National Identity Card
  • The recipient’s phone number
  • The recipient’s bank account details which include the bank name, branch name, branch address, branch code, and the SWIFT/BIC code.

Depending on where you are sending from, you may have to provide additional information to satisfy the authorities.

Send Money To Nepal

Top Provider
Amount Received
By Bank Transfer
Fees: 0
Rate: 0.00000 *
Payment Options
Bank Transfer
2 Days
Debit Card
2 Days
Key Features
Fast and Reliable Service
Low Cost
Current Mid-Market Rate: 1 = 134.661827 NPR
* Some rates may be indicative.

Common Reasons For Sending Money to Nepal

The unemployment rate in Nepal is 40 per cent. About 1,600 Nepalese men and women leave the country daily for greener pastures, especially in the Gulf states. When they get employment in the destination countries, they immediately begin sending home some money to take care of their families, invest, repay debts, and contribute to social causes.

Household Expenses

In the 2015/16 financial year, the average annual household consumption in Nepal stood at $2,850. About 53.8 per cent of the budget comprises food items. With 25.2 per cent of Nepalese living below the national poverty line, remittances for household subsistence are crucial. Nepal Living Standard Surveys revealed that remittance significantly reduced the headcount poverty rate from 42 per cent to 25 per cent between 1995 and 2011.

Debt Repayment

Most Nepalese travel abroad to get better opportunities to help their families back home. The migration process involves a lot of costs which families have to bear to ensure their loved ones resettle overseas. The first round of remittance is mostly used to clear off the debts incurred and other historical credit facilities.

Buying Land and Putting up Houses

Nepalese abroad are buying land at home and building houses for their families and for renting out. The real estate sector has been growing steadily and has attracted a lot of inflows from the diaspora. Sub-metropolitan cities such as Itahari have recorded rising property prices because of land and housing demand.


In a study examining the relationship between remittances and healthcare usage in Nepal, it was found that diaspora remittance increase access to health care. Nepal introduced a nationalised healthcare policy targeting specific districts through social healthcare programs. Remittance income increases the likelihood of Nepalese families visiting doctors and getting higher-priced medical care.


Nepalese abroad are investing in productive farming assets to help them create sustainable income for their families.  Research done in Chitwan shows increasing participation in agricultural investments for households with migrants compared to those with no migrants.

Social Contribution

Nepal has colourful, vibrant festivals most of them having religious connotations. Nepalese in the diaspora often send money to their family and friends to celebrate such festivals as Dashain and Tihar, Buddha Jayanti, Gai Jatra, and Janai Purnima. Some of the remittances go towards weddings and social activities.

Why Send Money With a Money Transfer Service?

Transferring money to Nepal is not an option for the millions of Nepalese in the diaspora. Many leave their families behind and regularly send money home to supplement the family income. Banks are a traditional source of sending money, but money transfer services are gradually seizing the opportunity. Some of the reasons for this change of preference include:

Ease of Setup

Signing up for an account, paying for your transfer and sending money is a simple process. The only details you will need are your name and email address. Some providers may ask you for identity verification as part of their internal policy but nothing else beyond that. You cannot compare this simplicity with the tons of information and regulatory hurdles you encounter when opening bank accounts.

Favourable Exchange Rates

The exchange rate used by the providers is in the middle of the buying and selling rates. It is called the mid-market rate or real rate. The MTOs use currency exchange research data from databases such those used by Google and Yahoo Finance. This information enables them to come up with favourable exchange rates between source currencies and the Nepalese rupee.

Low Transfer Fees

Money transfer service providers charge the lowest fees of all sending methods. Payment method fees vary depending on how you pay for your transfer to Nepal. There are several payment methods, bank debit (ACH), bank transfer, debit card, and credit card. The latter is the most expensive in fees but takes the least time to send your recipient.

Multicurrency Support

Money transfer service providers serve lots of locations and countries in the world. Western Union has more than 500,000 agent locations in over 200 countries. MoneyGram has 350,000 agents locations in 200 countries and territories around the world. Xoom is present in over 140 countries and 350,000 agent locations globally. These global networks make sending from any country including remote territories like St. Lucia and Vanuatu possible.

Secure Transfers

The money you are sending and your personal information are both secure with money transfer service providers. MTOs are regulated by the Financial Conduct Authority (FCA), an independent body that ensures the safety of international transfers. In addition to the regulations, providers have invested in security systems such as multifactor authentication systems and other cybersecurity measures.

Speed of Transactions

Money transfer services leverage a large payout-network and superior, technology-driven efficiency to speed up transactions. When sending money home for an emergency or time-bound obligation, speed is of the essence. Providers can transfer money in minutes or a few days.

Things to Consider When Sending Money to Nepal

Apart from the provider benefits and unique features of the sending platforms, there are certain things you need to consider when sending to Nepal. These include:

  • The Depreciating Nepal Rupee – The Nepal financial system runs a fixed peg foreign currency regime pegged on the Indian currency and the United States dollar. In the past couple of months, the rupee has been tumbling against major world currencies. The weak currency gives Nepalese in the diaspora an advantage when sending. They get more money at the current exchange rates.
  • Nepali Diaspora Invest Fund (NDIF) – NDIF is a collective investment initiative for Nepali diaspora. If you have wanted to invest in housing, hydropower, travel and tourism, agriculture and transportation, this can be an excellent investment vehicle. 
  • Currency Exchange and Restrictions – When bringing in $5,000 or more to Nepal, you must declare it on arrival. Similarly, when exporting currency out of Nepal, you must declare to the authorities. Exchanging the Nepalese rupee to another currency should only be done through authorised dealers. 

Knowing the processes involved when sending money to Nepal is critical. The various providers, the services they offer, the information required to send and receive money and the things to consider when sending to Nepal are some of the grounds you need to cover.

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Looking to Send Money Somewhere Else? 

Sending money anywhere else in the world is as easy as sending money to Nepal. If you’re looking to send money to another country, here is the list of the most popular destinations.

Jonathan Merry

Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com