Sending money to Nepal is crucial for many Nepalese living in Australia. Remittances play a vital role in supporting families and communities back home. These funds help cover essential expenses like education, healthcare, and daily living costs. In 2023, Nepal received over $8.5 billion in remittances, accounting for nearly 25% of the country’s GDP. Major remittance inflows come from countries like Qatar, the United Arab Emirates, Saudi Arabia, and the United States, where many Nepalese work. According to The Kathmandu Post, Nepal received Rs 689.88 billion (about $5.28 billion) in remittances from July 2022 to February 2023 alone​.

The remittance flow from Australia to Nepal is also significant. According to the World Bank, Australia sent approximately $6.35 billion in remittances globally in 2022, with a notable portion directed to Nepal. According to the Department of Home Affairs, at the end of June 2022, 151,140 Nepalise-born people were living in Australia. These individuals contribute significantly to the remittance inflows to Nepal, highlighting the importance of secure and efficient money transfer methods.

This financial support is a lifeline for many families, helping to improve their quality of life and boost the local economy. Understanding how to send money to Nepal safely and efficiently can make a big difference. This guide will walk you through the best ways to send money to Nepal from Australia, ensuring your hard-earned money reaches your loved ones quickly and securely.

Himalaya mountains photo in a blog about send money to Nepal from Australia
Nepalese people living in Australia contribute significantly to the remittance inflows to Nepal, highlighting the importance of secure and efficient money transfer methods.

Before starting

How to send money to Nepal in 2024

1.Define which method you will use: mobile wallet, bank transfer, or cash pickup in Nepal.

2.Create an account with Rocket Remit money transfer service.

3.Load the money you plan to send to Nepal using a bank transfer, debit or credit card.

4.Verify your beneficiary details in Nepal, such as name, address, mobile number or bank account.

5.Transfer the money to your beneficiary.

6.Confirm the transfer status by checking with your beneficiary to see if they received the money.

Identify the different ways to send money to Nepal from Australia

Traditional bank transfers

Sending money to Nepal from Australia through traditional bank transfers is reliable. You can visit your bank or use online banking to provide the recipient’s details, including their name, bank name, and account number. Once you initiate the transfer by following the bank’s instructions, your money is on its way.

Banks are trusted institutions with robust security measures and a wide network in Nepal, making them a secure choice. However, they often have significant fees and longer processing times, and it can sometimes take several days for the money to reach the recipient.

According to the World Bank, bank transfers usually have higher costs compared to other methods. Using traditional banks for remittances ensures a high level of security. Still, knowing the associated fees and longer processing times is essential.

Online money transfer services

Sending money to Nepal from Australia through online money transfer services is fast and convenient. Companies like Rocket Remit offer great options for bank accounts and mobile wallets in Nepal, which is especially helpful for people without bank accounts.

To use services like Rocket Remit, you must first create an account and verify your identity. Then, you must enter the recipient’s details and the amount you want to send. You can pay using your bank account, debit, or credit card. These services provide competitive exchange rates and lower fees than traditional banks. The most significant advantage of Rocket Remit is the speed; money can reach your recipient in minutes. It’s also very convenient; you can send money from your smartphone or computer anytime, anywhere.

Popular mobile wallets to send money to Nepal

Rocket Remit lets you send money directly to popular mobile wallets in Nepal, such as eSewa, QPay, and Khalti. This means that even recipients without a bank account can receive money quickly and easily. eSewa is a popular digital wallet and payment platform in Nepal; it offers a convenient way for users to make transactions without needing cash and is widely accepted as a payment option. To learn more about how to transfer money instantly to eSewa, please read this blog.

According to a leading remittance service provider, online remittance services are growing rapidly due to convenience and speed. “Online remittance services like Rocket Remit have changed the way people send money abroad, offering speed and competitive rates,” says the CEO of Rocket Remit.

Online money transfer services like Rocket Remit are an excellent way to send money to Nepal quickly and efficiently. With options for bank accounts and mobile wallets, you can support your loved ones regardless of their banking situation.

happy daughter showing mobile phone to her mother in a blog about send money to Nepal from Australia
Digital Wallets in Nepal like eSewa allows users to make online payments for a wide range of services and goods, including utility bills, movie tickets, online shopping, and many more.

Cash pick up

Cash pickup is another popular option for sending money from Australia to Nepal.

Start by choosing a service and creating an account for cash pickup services. Provide the recipient’s details and select a pickup location in Nepal. Pay using your bank account, debit, or credit card. The recipient can then go to the specified location and collect the cash.

Funds are usually available for pickup within minutes, which is very convenient for recipients without bank accounts. This is a similar benefit for mobile wallets. However, the recipient must visit a physical location to get the money, and fees might be involved.

Tips on how to send money to Nepal safely

Sending money to Nepal is essential, but it’s crucial to do so safely. Here are some tips to ensure your money reaches your loved ones securely:

Use trusted and well-known services:

Stick to reputable remittance services like Rocket Remit, Wise, and Western Union. These companies have robust security measures in place to protect your money.

Verify recipient details carefully:

Double-check the recipient’s name, bank details, or mobile wallet information. Incorrect details can lead to delays or the money being sent to the wrong person.

Keep transaction records:

Always keep a record of your transactions, including receipts and confirmation emails. This can help resolve any issues that may arise. You can also check when the money has been sent and received, providing peace of mind.

Avoid unsolicited requests:

Be cautious of unsolicited requests for money transfers. Scammers often target people sending remittances. Verify the legitimacy of any request before sending money.

Verify the legitimacy of the remittance service:

Ensure the service you are using is legitimate. Check for reviews and ratings online, and verify if the company is registered with relevant financial authorities.

The Australian Competition and Consumer Commission (ACCC) offers valuable advice on avoiding scams. “Safety is paramount when sending money abroad; always use trusted services and verify details to avoid fraud,” says an ACCC spokesperson.

By following these tips, you can send money to Nepal confidently, knowing your hard-earned money will reach your loved ones safely.

Banks and mobile wallets to send money to Nepal
Banks and Mobile wallets available with Rocket Remit to send money to Nepal in 2024

To conclude

Sending money to Nepal from Australia offers various methods tailored to fit different needs, whether through bank transfers, mobile wallets, or cash pickups.

Services like Rocket Remit provide flexible, secure, and efficient ways to transfer funds. Each method has benefits, from speed and convenience to low fees and broad accessibility. By understanding and comparing these options, you can effectively ensure that your money reaches its Nepali destination, seamlessly supporting family, friends, or business transactions.

About Rocket Remit

Rocket Remit is the world’s fastest international money transfer service. Send money instantly to over 60 overseas countries at very competitive rates.

Use the country selector to choose the country and check the rate.

Click here for more information on how to send money using Rocket Remit.

Download the Rocket Remit app from Google Play or the Apple Store

Return to Blog menu

Related Rocket Remit Articles

May 24, 2024
How to send AUD to PHP