Compare money transfers from India to Nepal

Remittance Services to Transfer Money from India to Nepal

There is a considerable population of Nepalese living in India, with reports putting their numbers to about 4.1 million. The majority of them immigrated to India to secure work and support their families back home in Nepal. This article is going to look at the best way to transfer money from India to Nepal.

The Cheapest Way to Send Money from India to Nepal

Before the advancement of technology, Nepalese in India relied on traditional channels to remit money back home. That often included traditional services offered by banks and the money transfer services that had established themselves then.

However, these traditional channels were not only expensive, but they were slow and sometimes unsecured. With the adaption of technology came the option of digital online money transfer services, otherwise referred to as e transfer.

Which Service is Suitable?

Technology brought about the cheapest and easiest way to wire money from India to Nepal. And they are as follows:

• TransferWise charges a low and transparent fee that genuinely reflects the mid-market exchange rate. They also give you the option of paying from credit card, Apple Pay, and Android Pay for the supported currencies. This service charges one of the lowest and transparent fees in the market, with zero markups on the exchange rate.
• WorldRemit was among the early online money transfer services to disrupt the remittances market. Using WorldRemit, you can send money directly into the recipient’s bank account in India, have the cash delivered directly to their homes, or deposit it into their mobile wallet. Alternatively, they can also pick it up at the nearest local WorldRemit agent in Nepal. It is a low-cost and transparent means of sending money, and everything happens online, so there is no need to queue up and wait.
• You can send money from India to Nepal via Skrill as either a direct bank account transfer, or have it deducted from your credit card. The recipient has the option of receiving it directly in their Skrill account, mobile wallet, or as a deposit into their bank account. Skrill is almost always the cheapest alternative in a list of options for sending money online. It is also matched with high speeds for processing the transfers.
• Azimo is another upcoming money e transfer service that allows you to send money from your credit card to recipients in Nepal. Azimo fees and exchange rates are much more affordable compared to banks and other traditional money transfer services.
• Western Union. It is probably the oldest and most established money transfer service on this list. You can pay for using debit or credit card, or have it withdrawn from your bank account. With Western Union, you get quite competitive transfer fees and exchange rates.

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