You might be wondering if international debit and credit cards, mainly MasterCard works in Nepal or not? Mainly MasterCards can be used in most countries you might be confused about Nepal with the vague international finance law it has. This article cover using MasterCard in Nepal.
Okay so for those of you wondering, the short answer is Yes, MasterCards can be used in Nepal. You can use your credit/debit card at shops, hotels, restaurants, and travel agencies. The major banks will accept your MasterCard and will work for most ATMs in Nepal. But there is a cost to that, using a MasterCard from a different country.
Also, Nepal has a system of 4 digit PIN for ATMs. So, if you have a 6-digit PIN, talk to your bank about using it in Nepal and change it to a 4-digit PIN to make sure you don’t have to carry extra cash while traveling.
Additional Fees while Withdrawing with Card
Once you’ve put your card into an ATM, you might be asked what currency you want to use for the transaction – your home currency, or the local one, Nepalese rupees. If you choose your home currency, the money will be converted by the local ATM. And when you choose your local currency they will charge you ridiculous exchange rates.
Therefore, you should always choose to be charged in the local currency, which means that your own bank will probably be responsible for making the conversion. You still might not be charged with the market exchange rate but it will be better than choosing your home currency.
The charge while using the ATMs is also dependent on your home bank. They will charge you a certain amount depending upon each transaction you make. So check up to your bank about the extra charges.
There will also be a fee charged by the bank at the ATM. This is very common in Nepal, so be prepared to have to pay this too. The fees vary from ATM to ATM, so it might be worth trying several for comparison.
Transaction Limit in Nepal
The ATMs in Nepal have a transaction limit so be aware with that. It generally ranges from around Rs. 10,000 to Rs.30,000 which is approximately between USD 90 to USD 260 according to the current exchange rate.
Also, your home bank might impose transaction limit on international transactions too. So check on that too. Contact your bank before you travel abroad.
Yes, you can use your MasterCard in Nepal but there is an extra price you have to pay with the additional charges. It might not be worth paying the additional charge in some cases. So, it is better not to depend on your MasterCard for all your purchases. Have cash in hand and use MasterCard for emergency situations only.
Also, be sure too keep your credit card to yourself and keep it safe as it might get stolen. And in some ATMs too, your card might get stuck in the ATM itself which will then turn into a hassle. So, be very careful with your card. Be aware of the exchange rate and the additional charges you have to bear while doing transactions with the card.
You can also make a MasterCard as a Nepali with the help of Payoneer or you can also check out other services who provide MasterCard for international purposes in Nepal. The MasterCard then can be used for making purchases through Amazon or any other international Website.
Recommended Readings: Foreign Currency Exchange in Nepal