Sending money to Nepal from Australia is simple, but it may be costly if you use your local bank. Hidden fees, exchange rates with hidden margins, and bank expenditures are all common in overseas money transfers.
You may also transfer money in person by visiting a store and using a service such as Western Union or Moneygram. Although these services are typically rapid, they may not be the cheapest option to send money to Nepal. You may have the best of both worlds with online money transfer services. They enable you to transfer money at a reduced cost without leaving your house. Here are some of Australia’s greatest money transfer companies:
Remitly
Remitly is a simple method of sending money from Australia. Credit cards are accepted, and they have a well-known mobile phone app.
Remitly offers a speedier but more expensive “Instant” option for sending money to relatives or friends in another country. If you’re not in a rush, their “economy” option is a little slower but a lot cheaper.
What is the cost of sending money to Nepal?
Transfer Price: The “Economy” fee is $1.99, but if you need money moved quickly, their “Express” rates start at $3.99 and go up depending on the amount.
The exchange rate you obtain is determined by the amount of your transfer.
Also See: How to Transfer Money Overseas Without Fees and With Ease
XE Money Transfers
XE, being a well-known and reputable company in foreign exchange, might be an excellent choice for internet consumers who aren’t in a hurry. They don’t have any predetermined fees or minimum quantities, thus they’re suitable for any size transaction.
How much does it set you back?
Transfer Fee: There are no fees, although there may be costs at the local bank.
When converting Australian dollars to Nepalese rupees, the AUD/NPR exchange rate you obtain is determined by the amount of your transfer.
Also Read: The Best Money Transferring Apps in Australia
Wise
If you want to transfer money over the internet, Wise is one of the most convenient options. Setting up an account or making a transfer with their app is really straightforward. They also have the greatest exchange rates since they utilize the same market rate as XE or Google and don’t include any hidden markups.
How much does it set you back?
4.08 AUD + 0.8 percent of the amount sent
Wise gets you the best exchange rate available (google rate). They don’t make use of a margin.
Bank transfer, debit card, and a credit card are the available payment options.
WorldRemit
WorldRemit is a remittance and small-transfer specialist. They’re ideal for personal money transfers from Australia to Nepal of up to AUD10,000. Their rates are frequently lower than those offered by Australian banks like ANZ and Commonwealth Bank. They have more delivery alternatives than PayPal, Western Union, or MoneyGram, for example.
How much does it set you back?
Fees start at AUD1.99 for modest sums and go up from there.
Bank transfer, cash pick-up, mobile money, or airtime are all options for delivery. Boost your supply
AUD50 is the maximum amount that may be sent.
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Sending money through bank
To send money from your bank account to a Nepalese bank account, follow these steps:
- Visit a branch or log in to your online banking account.
- Go to the international money transfer section.
- Enter the amount of your transfer as well as the currency it will be done in.
- Fill in the banking details for the receiver.
- Double-check all of the facts, fees, amounts, and references before finalizing the transaction.
If you don’t want to use your bank, research money transfer services, create an account, and repeat steps 2 through 5 as necessary.
Bottom line
There is no “standard” time or efficiency for transferring money from Australia to Nepal. It all comes down to the bank or service you choose. In other cases, banks might be faster and easier since they simply remove Australian dollars from your account and send the money overseas the same day.
