Find the best ways to transfer money to Nepal

The exchange rate determines how much NPR the recipient will get when you transfer money to Nepal.

For example, today, the average exchange rate between US Dollar and Nepalese Rupee is 138.2423.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more NPR.

If you do need to send NPR now, we suggest using Wise.

The cheapest way to pay for your transfer to Nepal is via bank transfer with Panda Remit. It is 0.14% cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of NPR you receive.

Here are your cheapest options:

*Based on a 7,000 transfer to Nepal using our comparison data. Transfer time is based on averages from multiple companies.

Avoid using a credit card option for transfers to Nepal, as it’s the most expensive.

Credit card transfers to Nepal come with cash advance fees and higher interest rates on NPR.

When possible, avoid sending NPR over the SWIFT network. Despite its name, SWIFT transfers to Nepal are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts, for example:

Sending under $1,000 to Nepal

Most providers can send this amount very quickly and affordably.

Sending under $1,000 or more to Nepal

For more substantial transfers, you might save more money using providers that charge a flat fee.

Sending under $10,000 or more to Nepal

Specialty providers like TorFx are best for large amounts above $10,000.

Sending under $100,000 or more to Nepal

Currency brokers (managed services) such as are the best way to go for large amounts.

In general, the quicker you need NPR delivered, the more it will cost you in fees.

Transfer speed to Nepal depends on the NPR amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer 7,000 from the US to Nepal.

Overall, of 8 companies serving Nepal, Panda Remit is the fastest regardless of the deposit method.

For bank or debit card deposits, services like Panda Remit excel in this regard, offering near-instantaneous and cheapest NPR transfers with $4 or $0 fees respectively and 0.3% markup.

For most urgent transfers to Nepal, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for NPR transfers as it's slower due to intermediary banks in Nepal.

There are a few ways to send money to Nepal:

Online

You can send money to Nepal with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Wise is the overall best online money transfer provider according to our comparison data.

App

Most money transfer services supporting Nepal transfers have an app, often, offering a better NPR rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

In-person

Cash transfers to Nepal in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect NPR.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in Nepal. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank transfers to Nepal.

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

You can also receive money in a digital wallet like Revolut, Khalti, e-Sewa, Prabhu Pay, iPay, or PayCEC. This option is almost always instant, however, the recipient will need to transfer it to their bank and cover any additional fees.

It’s important to note that PayPal, Apple Pay, and Cash App are not available in Nepal, and only a few countries (including India) can send money to Nepal using Google Pay.

To receive money in Nepal, you will need:

• Valid forms of ID: this could be a National Nepalese ID, a Nepalese passport, or a driver's license.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of NPR to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in Nepal, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a passport or driver's license.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in Nepal. Sometimes this may include an IBAN or a SWIFT code depending on your payment method.

If you're making a large transaction to Nepal, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large NPR transfers and will help you get things done fast.

In most cases, you won’t have to pay tax on a money transfer to Nepal. Possible exceptions are if the transfer exceeds your country’s gift reporting threshold or is for a large purchase (like real estate).

Nepali citizens usually won’t have to pay taxes on personal remittances. But to be safe, both you and your recipient should check your respective countries’ tax laws for up-to-date guidelines before sending money.