You are in Australia and just thought about sending some money back home. Now, Are you asking yourself how you can send money from Australia to Nepal?
The fulfilling prospect of Abroad Studies has uplifted the migration of Nepali Youths to Foreign Countries. Most of the Students settle down with work and financial appeal after completion of their Education. They earn quite well with their job and happily send the money back home to their families.
Australia attracts many students looking for quality education and opportunities after their education. Many Nepali students have followed the same path for a fun and rewarding education policy. Accessible applying methods have ensured Visa Approval.
Now to the main topic of the question.
Ways to Send Money From Australia to Nepal
While planning to send money from Australia to Nepal, you certainly have to do your research and choose the best-suited option for you. Here we have prepared a guide for you to understand the process all in one go.
Money Transfer Company
Money Transfer Companies based in Australia are in quite a number. With their service of exchanging foreign currency with the rate of change back in Nepal, they make a good delivery of your money. Many companies have their way of giving fast and reliable service according to need.
Nepal Money Express
Nepal Money Express is an Australian-based Money Transfer Company that provides high service to its customers. You just have to follow the simple steps of adding your credentials with Registration, to begin with. Then choose the amount for the Recipient you fill in the details about them.
After validating your registration, you pay a cut for the Transfer, and you are done.
Now known as Wise, it gives you a cheaper way of transferring money with many other services too. According to its popularized tag, It is 8 times cheaper than a bank. You can easily use this platform to use and receive or send your money with an exchange rate available for 56 different countries.
You need to open an account to unlock its features.
Enter the amount you are about to send. And then it’s a step-by-step guided process that takes you through your verification and the recipient’s verification. Then reviewing the details you just send it off to Nepal. You will receive the information and notification about the move.
The easiest and accessible option that the youths like to follow to send money from Australia to Nepal is through a remittance company. It has a quick transfer rate and is easy to process.
You can select your choice of setting the amount through a Bank account or even my Mobile Wallets.
World Remit is one of the first ones to provide digital Remittance services and is most popular with people around the world. It includes no hidden charges and gives efficient service. It shows the charge for the transfer before transfer with the exact Exchange rate that your recipient is going to receive.
The recipient can instantly gather the cash from the agent, which you can transfer up to 2500 USD. Whereas, Bank transfer takes around 24 hours to complete, which you can send up to 5000 USD per transfer.
Western Union is a famous company that has a recognized amount of users from around the world. It takes about 4 days to process your money to the hand of the receiver if you have sent it through an online bank. But, Debit or Credit card transfers can be covered in an instant.
For every 10,000 rupees that you transfer, you will be charged about 100 rupees. There are other options and transfer limits.
The company has even launched a home delivery service regarding the Lockdown period in the country. So, the receiver can get the money right at their doorstep.
Global IME Bank has the service of Remittance transfer that has simple 4 steps to send money to the receiver from Australia. It takes a few credential verifying steps from both sides to complete the transaction.
While sending the money you need to fill up a form and will receive a code that will have to be passed on to the receiver. After the money is transferred the Reciever needs to verify it with the same code and provide information. After verification, they will receive the allocated amount.
MoneyGram is a worldwide available money transferring company, that transfers up to 6000 USD per transfer. You can easily send money from Australia to Nepal through an agent nearby. With your and the receiver’s credentials provided with the amount of money that needs to be transferred.
Notifying your recipient with the code that you have been provided with they can receive the amount directly into their account.
Instant Remittance is the best way to transfer a small amount of money in an Instant. As the name suggests, you can transfer the money with an inspection of the Exchange rate, which keeps you notified about the changes. You will save a lot of time and money through this transaction as it gives an instant service.
Your recipient will receive the amount in their bank account as you have sent it. There are no hidden fees included and the transparent service will assure you of what you have paid for it.
Direct Bank Transfer Methods to Send Money From Australia to Nepal
Sending money through a bank takes about 2 to 5 business days and is costly. It is the old-school way of doing things. It has been outdated due to the use of Cable networks.
It requires your personal authority while sending the money from your side and also when the receiver withdraws the amount. It takes time and patience to go through it. To send money from Australia to Nepal your recipient should also take the effort of filling in the required fields.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a financial system that connects Banks Globally in a relationship. It was formed to overcome the efforts required for the Sentence messages for the money to be transferred and replaced with Codes.
SWIFT Codes are a series of codes that is sent from one bank to another as a way of transferring money. It was a revolution for the money transferring system. It recognizes the detailed information of the Account holder.
It takes some time to transfer money and costs with additional fees for the addition of measures that need to be implemented.
You can send the money through your bank to the receiver account’s bank and they converse through their commercial account to make the transfer happen. You surely owe them the fee that might increase if the two banks don’t have an established relationship. Currency exchange is implemented by one of the Banks for International Transfer.
This is an outdated form of wire transfer of money. You can send the money through your bank and need to follow the procedures and wait for it to happen until the person on the other side receives the money. You can use your Internet account through your Banks’ address or visit the bank yourself to look through the procedure.
An electronic wiring system is a way that you can send your money overseas through the medium of the Bank. It is a collected method of connection among the Banking systems. One bank sends the money to the other bank for the receiver to receive the money. It is a safe a secure way of dealing with the transfer of money at a cost.
Individual Transfer (Hundi)
Hundi Transfer system is an invisible method of transferring money. And the highlight of it is that it’s illegal. That being said, let’s understand Hundi.
It is said to be criminal activity to transfer money with this process, as it evades any evidence of existence while going from one place to other. Mostly used to hide the Black money and avoid tax. It is completely Illegal in Nepal. But still, it is one of the ways to transfer money.
Before You End This Article
Money business gets to your head at times. With trouble in simple and plain things that don’t work to verify yourself, you might have had that instinct to let it go. The trouble is with the Traditional ways which can be quite frustrating at times.
Evolving methods of technology and Digital banking with digitized money you can send money from Australia to Nepal in an instant. Easy does it.