Insights: How to Send Money from Australia to Nepal
How to Send Money from Australia to Nepal
Today, one of the major destinations for higher education among Nepalese students has been Australia. So, Australia has witnessed a huge surge in international student arrivals over the past few years. As the number of Nepali students is massively increasing in Nepal. It’s difficult for new arrivals to send money to their home country, Nepal. Sending money from Australia to Nepal has become faster, easier, and more affordable than ever. In this guide, we’ll explain the best ways to send money from Australia to Nepal, what to look for before transferring, and how to get the best exchange rate.
Choose the Best way to Transfer Money
There are some popular ways to send money from to Nepal with different fees, times, and convenience, so here are some of the methods we have listed for you:
Online Money Transfer
This is the most popular and affordable method to send money. We have got Companies like Wise, Remitly, WorldRemit, Western Union, and Kangaroo Remit that offer fast transfers with competitive exchange rates. These platforms usually allow you to send money directly to a Nepali bank account or for cash pickup.
Why choose it?
- Low fees compared to banks
- Transparent exchange rates
- Fast delivery
Bank Transfers
In Australia, Major Banks allow to transfer of money to Nepal. It takes about 3-5 business days to get the money transferred. However, this method has charges and a poor exchange rate. This is best for large businesses that need of highly secure money transfer.
Cash Pickup Services
This could be an ideal option if the recipient prefers collecting cash. Services like Western Union or MoneyGram are ideal. They have thousands of locations across Nepal, including banks and remittance counters. Through this method, you can send money within a minute with no waiting time.
Compare Exchange Rates and Fees
This is the most important point to consider while sending money to Nepal. You need to check the exchange rate of AUD to NPR before sending money; otherwise, the final amount may be low.
Here are some points to check before sending money:
- Exchange Rate: Choose providers that offer mid-market or close-to-real rates.
- Transfer Fees: Charges are fixed in some cases, while other charges are a percentage.
- Hidden Charges: Some services charge hidden costs to mark up to the exchange rate.
Tips: Use comparison tools like Google rate check to find the best deal.
Set up your Transfer Account
To send money, firstly, you need to set up your account with a particular method.
Step 1: Provide a Valid Full Name as on your Passport
Step 2: Write down the Recipient’s full name
Step 3: If it is a Bank transfer, then provide the Bank details of the Recipient
Step 4: Write the Amount to be transferred in AUD.
Note: Most online platforms allow payments via bank transfer, debit card, or credit card. But bank transfers are usually cheaper, while card payments are faster but cost more.
Provide the Recipient’s Details
You need complete details of the recipient to send money in Nepal. for that you need:
- Recipient’s Bank Name
- Account Number
- Branch Name
- SWIFT/BIC code (if needed)
Track your Transfer
Once you complete your transfer, you can track your transfer in real time using the platform’s app or website. Whereas, the recipient will be notified via their mobile banking services or SMS alerts.
Delivery Time
- Delivery time may upon the service you choose.
- Cash Pickup: Instant to a few minutes
- Online services: 1 to 24 hours
- Traditional Banking Services: 2 to 5 Days
Tips to Save Money When Sending from Australia to Nepal
- Avoid weekend transfers, as rates may be higher.
- Send larger amounts rather than smaller ones to get rid of high fees.
- Use promotions and first-transfer discounts offered by remittance apps.
- Check rates before sending.
Verdict
Sending money from Australia to Nepal doesn’t have to be complicated. By choosing reliable online transfer services, comparing fees, and using secure platforms, you can send money to Nepal safely and quickly. With the right method, you’ll save both time and money while enjoying peace of mind.
Thank you.
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