How to Send Money to Nepal from Australia

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Each year, many Nepalese individuals migrate to Australia for work, education, and business opportunities. For these Nepali expatriates, money transfers from Australia to Nepal are extremely important to support their families waiting back home. Paying medical bills, daily expenses, house payments, and helping elderly family members are all possible due to this financial assistance.

However, as important as remittance services are for Nepali immigrants, they often face a common challenge: the high cost of money transfers. It reduces the actual amount that reaches Nepal quite significantly. While this is a serious hurdle, there are several ways to send money to Nepal without incurring exorbitant fees. Let’s discuss these options one by one!

Right Transfer Method For Genuine Cost

Traditional transfer methods, such as bank transfers and platforms like Western Union, MoneyGram, etc., have high transfer fees. The reason for the high fees is usually the involvement of intermediary parties that not only increase the transfer cost but also hamper the speed of transfer.

However, today there are numerous online money transfer platforms offering speedy and affordable transfers to Nepal at a much lower cost. These services provide direct bank-to-bank transfers, sending money directly from the sender’s account to the recipient’s bank account and bypassing intermediaries.

Some of the top online money transfer services to consider include:

Remitby: Remitby is the leading remittance platform that specialises in offering affordable remittance services from Australia to Nepal.
Wise: Wise allows you to send money directly to a bank account in Nepal at genuine and transparent pricing.
EG Remit: EG Remit provides low-cost money transfers for Nepali immigrants with fast delivery times.

Compare Transfer Fees and Exchange Rates

Rather than picking any random remittance service provider you find on the internet, you need to do good research. Start by listing out top money transfer services for sending funds to Nepal. Some service providers would have low transfer fees but high exchange rates, while some would have good exchange rates but high transfer fees. You need to compare all the options and check which offers the right balance and provides the best value for your money transfer without paying high fees.

Set Up Automatic Transfers

If you are someone who needs to send money to Nepal on a regular basis, then you should go for the automatic payment option. Doing so won’t only save you from the hassle of filling out the details every single time, but also scheduling regular transactions can help you avoid high fees as well. Many transfer services offer low transfer rates for scheduled or recurring payments, saving transfer charges each time. Moreover, automating your transfers can help you keep consistent and provide timely support for your loved one.

Avoid Credit Card Payments

Credit cards are useful, but when it comes to remittance, using a credit card isn’t a good option! This is because most cross-border transfer service providers charge additional fees for credit card payments, primarily due to the processing fees involved. These extra charges on transfer fees can significantly increase the overall cost of sending money.

Additionally, credit card companies have also put higher interest rates on cash advances, adding more financial strain. To avoid this and minimise fees, it’s better to use debit cards or bank transfers, which would cost you low-priced money transfers to Nepal.

Send Larger Amounts at Once

Instead of sending small amounts over time, consider transferring larger sums of money to your home in Nepal all at once. And we are suggesting this for a good reason.

Many remittance companies charge a flat fee for transactions up to a specific amount. By sending money in bulk, you can avoid paying multiple transfer fees for several smaller transactions. Additionally, transferring a larger sum can sometimes result in more favourable exchange rates and lower overall costs as well. Thus, combining your transfers into larger transactions makes it a more cost-effective solution in the long run.

Use Promotions and Discounts

Take advantage of promotions and discounts for your money transfers from Australia to Nepal to save the cost of your transactions. Some platforms offer special deals for first-time users; for example, Kantipur Remit has lower transfer fees for first-time users, while Remitly provides discounts on your first transfer. However, Remitby offers the best deal with completely zero transfer fees for the first three transactions for new customers.

Moreover, these service providers offer special discounts during festivals or special events. You can check out their websites for discount codes that cost you much less during special promotional periods. Or, you can just sign up for newsletters that can also alert you to upcoming promotions or discounts in advance. By doing so, you can align your money transfers accordingly and save big!

Check for Hidden Fees

Many remittance service companies can be fraudulent and dishonest, that are just after their customers’ hard-earned money. These providers often advertise offering affordable remittance services with low transfer fees and favourable exchange rates. However, they eventually hit customers with significant hidden charges at the time of final payment. Make sure to check all the charges before sending your money to save yourself from these companies. Go through the complete fee structure and exchange rates, including any additional charges, if any.

Conclusion

Remittance services are essential for Nepali expatriates supporting their families, but they don’t have to be expensive. With some smart planning and the insights shared in this article, you can transfer money to Nepal from Australia without incurring high fees. A bit of research can help, but you can simplify the process by choosing Remitby for your money transfers to Nepal. We offer transparent pricing, zero transfer fees for your first three transactions, and favorable exchange rates, making our remittance services affordable in Australia. Get in touch with us to learn more about our services.