Top Money Transfer Services for Sending Money to Nepal From Australia

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Nepalese expatriates residing in Australia often send money back home to support their families, invest in property, pay for education, or fund business ventures. Fortunately, there are a number of remittance services on the market that can assist them in sending money to Nepal. However, with plenty of options available, finding the best is still difficult. Each service offers different exchange rates, remittance fees, and transfer time, making it crucial to find the right balance for your needs.

In this blog, we explore the top money transfer services for sending funds to Nepal from Australia to help you decide on one based on cost-effectiveness, speed, reliability, and ease of use.

Factors to Consider When Choosing a Money Transfer Service

Before directly jumping to the list of top remittance services to Nepal from Australia, let’s first get a clear understanding of different aspects to consider while comparing and choosing the one. Here are some of these factors:

Exchange Rates

The exchange rate represents the rate at which one currency can be exchanged for another. It plays a significant role in determining the amount that would reach to recipient waiting for the money in Nepal.

Customer Support

Every authentic remittance service provider has reliable customer support to help with any query related to the platform, fee, payment status, or more.

Speed

Speed represents the pace at which the money reaches Nepal after the order booking and transfer of funds by the sender. Some take days, while some offer same-day and instant transfers.

Fees

Each service provider charges some fees to send money to Nepal from Australia. However, most charge a flat fee and a few charge a percentage of the total transfer amount.

Transfer Limits

Money transfer services have minimum and maximum limits to transfer funds. Thus, the service you are picking should be able to supply support for the amount you want to send, whether it’s a small or large transaction.

5 Top Remittance Services To Nepal From Australia

RemitBy

RemitBy logo RemitBy stands on top of the list of the best remittance services in Australia, excelling in every area from speed to ease of use at a significantly lower cost. It provides money transfer services to Nepal, offering highly customised remittance solutions. RemitBy’s online platform is highly compatible, offering you the flexibility to use it from a tablet as well as a laptop and mobile device, enabling on-the-go transfers.

Pros:

Its pricing is transparent with no hidden fee. Its portal displays the best current exchange rates compared to other service providers.
Remitby has zero transfer fees for the first three transactions, and even the later order requests cost very low transfer fees.
Instant transfers are possible, enabling cross-border transactions in even less than 24 hours.
The customer care support team is available 24/7, personally assisting you with your queries.
The platform has allied with the most trusted banks to ensure the safety of your international money transfers.
Remitby offers various rewards and promotion coupons to loyal users, maximising the value of money transfers.

Cons:

Yet, RemitBy offers remittance services just from Australia to Nepal.
You have to specifically ask the CCE team to raise the transfer limit for more high-priced transfers, stating the reason for the transfer.

Western Union

Western Union is one of the most established money transfer service providers globally, offering extensive coverage in Nepal. It mainly focuses on online pickup services rather than direct bank transfers. Here are some more perks of this platform and a few drawbacks too:

Pros:

The platform supports both online and in person transactions.
It has many pickup locations across Nepal.
Western Union has strong customer support and is operational 24*7.
The platform provides the user with a real-time transaction tracking feature.

Cons:

Platform charges high fees for smaller transactions.
Its exchange rates aren’t that desirable as compared to other service providers.
Transaction time is usually slower.

WorldRemit

WorldRemit has been offering international money transfer services for the last 10 years. The platform is widely used by immigrants worldwide for money transfers. Its online portal allows users to send money through bank deposits, cash pickups, and mobile wallet transfers.

Pros:

The platform has a same-day transfer option, enabling quick money transfers.
It offers better exchange rates than most conventional banks.
WorldRemit has an easy-to-use mobile application and an accessible website.

Cons:

Although the exchange rates are better than banks, they are still slightly lower compared to other online remittance services.
The customer service representatives are rarely active and frequently give delayed responses.

Wise

Wise, earlier known by the name TransferWise, launched in 2011 and offers international money transfer services. It was among the first companies to introduce transparency in cross-border transactions by offering mid-market exchange rates without hidden markups.

Pros:

The platform enables legitimate money transfers directly to the bank accounts of recipients in Nepal.
It features real-time tracking, allowing users to monitor their transfers with ease.
Wise provides transparent pricing with no hidden fees.

Cons:

Portal is complicated to operate, especially for first-time users.
Some customers have reported delays in transfers and occasional issues with failed transactions.

MoneyGram

Just like Western Union, MoneyGram is a globally trusted remittance service with a strong presence in Nepal. The platform has a user-friendly online and app-based application accessible from anywhere around the world. Check out the common pros and cons faced by the users:

Pros:

The platform offers both cash pickup and bank deposits.
MoneyGram has a network of agents and pickup locations in Nepal.
Its money transfer times to Nepal are fast.

Cons:

MoneyGram’s transfer cost is quite high for smaller transactions.
Exchange rates are less favourable than Remitby.

Conclusion

There are many options for remittance services to Nepal, out of which Remitby, Western Union, WorldRemit, Wise, and Western Union are the best among all. However, Remitby is chosen the most to send money to Nepal from Australia due to unbeatable exchange rates, low fees, and lightning-fast transfers.

Have you tried RemitBy to send your money to Nepal? If not, just give it a try and experience the best yourself!