How to send or transfer money from Australia to Nepal: – Sending money from Australia to Nepal is a daunting task. Many companies claim that they provide the best alternative of sending money, but further drilling on their system reveals a lack of trust and security which could lead to the illegal transfer of money.
In this article, we will inform all the best available options through which anyone wishing to send money from Australia to Nepal can transfer money in a safe, simple, and fast way.
Australia is one of the main destinations Nepalese students are attracted to pursue higher education and subsequently stay for the long term.
The poor economic condition of Nepal along with changing government and fewer employment opportunities have led to Nepalese migrate abroad in search of better education and employment opportunities.
Australia, one of the developed nations in the world, has been in taking Nepalese students in huge amounts and all Nepalese heading abroad go to Australia in search of better opportunities. Yearly, the number of students heading to Australia is increasing.
The professional workers, students as well as migrant workers wish to send their hard-earned money to their friends and families in Nepal. With the increase in the Nepalese in Australia, the need for better remittance providers is increasing day today.
The sender usually finds it daunting to choose from the number of the remittance service provider to cater to their needs.
Hence, this article has been put forward with the expectation to give detailed and thorough information regarding the remittance service provider and the service provided by them.
Read Also: Best Way To Transfer Money To Nepal From India Through Bank
So, if you are in Australia and wish to send money Nepal, this article could be very helpful to you where we will provide you a detailed analysis of every alternative available for sending your money to Nepal.
Information required to transfer money
Transferring money from one country to another is always a daunting task for any first time user. Many times, due to a small mistake from the sender or recipient could lead to non-transfer of money.
Hence, to successfully transfer your intended money from Australia to Nepal, you need to have a few more information prior to opting for the transfer process.
- Personal information: The personal information of the sender and the recipient needs to be entered carefully and should be validated with the government issued identity proof.
- Payment mode: The bank details, address, and account number and debit and credit card number should always be entered properly.
- Make sure the photo and identity proof of the sender and recipient of high quality and valid
The remitter should always be aware of the consequences of the erroneous entry and be careful in filling out the remittance forms. A simple mistake could lead to delayed service and maximum cost as well.
Best ways of Transferring money from Australia to Nepal
You can either transfer money from Australia to Nepal via Money transfer companies or through banks.
1. Money transfer companies:
A. World remit
WorldRemit is one of the many remittances providing service companies that provide easy, fast, and reliable remittance service to its customers. Founded in the year 2010, world remit is one of the first money transfer companies that specializes in the online transfer of money. World Remit is one of the best ways to send money from Australia to Nepal.
For the beneficiary, it has provided a wide range of alternatives that includes cash collection, bank deposit, and airtime top-up as well. It’s headquartered is in London, United Kingdom and as of 2020, it has more than a thousand employees around the globe.
Features of WorldRemit
Fast: WorldRemit allows remitter to send money fast. Through bank transfer, the money is available for pickup within one business day as well.
Secure: WorldRemit, with its leading payment security options, whether you use a computer, phone, or tablet to send money, your money is safe.
Flexible: WorldRemit provides flexibility to choose the service remitter can benefit from. It allows remitter to send money conveniently than traditional money transfer companies which tend to charge a higher service charge.
Services offered by WorldRemit
WorldRemit allows remitter to send money to Nepal via three different ways that include bank transfer, Cash picks up, and airtime top-up.
i. Bank transfer:
Bank transfer is one of the different options you can choose to transfer money from Australia to Nepal. It allows customer send bank deposit directly to the beneficiary in Nepal
Processes:
- To transfer money through “Bank Transfer” offered by World Remit, go the website https://www.worldremit.com/en/how-it-works-bank-deposit. Use the blue box that appears on the page and selects the country you want to send the money to, i.e Nepal.
- Select the way you want to send. The options include Bank Deposit, Cash Pick up, and airtime. Select “Bank Deposit” Option
- Enter the amount that you wish to send Nepal via the remittance company. Once you select to send, you will be directed to another webpage where you will be asked to create the account, enter the beneficiary’s details and pay.
- If remitter is the first time user and does not have an account, the system will ask for the email, phone, name, and address. Once the remitter is logged in, remitter needs to provide the details of the beneficiary in Nepal including phone number, name, email address, and address.
- Finally, the transaction will be completed once the payment is done either by Bank account, credit/debit card, SOFORT, POLI, or INTERAC.
- Upon the successful completion of the process, the recipient in Nepal is directly altered via SMS about the availability of money.
ii. Cash pickup:
With the help of the Cash Pickup option, the beneficiary can pick up the money sent by the remitter from the numerous pickup locations in Nepal.
Processes:
- To transfer money through “Cash Pickup” offered by World Remit, go the website
- https://www.worldremit.com/en/how-it-works-bank-deposit and use the blue box that appears in the page to select the country you want to send the money to, i.e Nepal. and the mode you want to send.
- Choose the options Cash Pick up
- Enter the amount that you wish to send Nepal via the remittance company.
- Once you select to send, you will be directed to another webpage where you will be asked to create the account, enter the beneficiary’s details and pay.
- Finally, the transaction will be completed once the payment is done either by Bank account, credit/debit card, SOFORT, POLI, or INTERAC.
- Upon the successful completion of the process, the recipient in Nepal is directly alerted via SMS about the availability of money.
- In Nepal, the beneficiary must have the identification (Citizenship/driving License/passport) along with the transaction reference number sent by the remittance company for pickup of the cash.
iii. Airtime top-up:
Airtime top-up service of World Remit allows remitter to send airtime top-up in the mobile instantly to stay connected. The customer can add talk-time to their mobile phones in no time.
However, the money sent through airtime cannot be used for the purchase of any items or to pay any types of bills.
Processes.
- To transfer money through “Airtime Top Up” offered by World Remit, go the website
- https://www.worldremit.com/en/how-it-works-bank-deposit and use the blue box that appears on the page to select the country you want to send the money to, i.e Nepal.
- Choose the options Airtime Top Up
- Enter the amount that you wish to top up the receiver’s phone
- Once you select to send, you will be directed to another webpage where you will be asked to create the account, enter the beneficiary’s details and pay.
- Finally, the transaction will be completed once the payment is done either by Bank account, credit/debit card, SOFORT, POLI, or INTERAC.
- The remitter and the receiver are alerted instantly by SMS and email when the top-up is started and completed.
Read Also: How to send or transfer money from Australia to Nepal throught World Remit
B. InstaReM:
InstaReM, also known as Instant Remittance is a remittance provider that specializes in money transfer services for individuals and businesses.
Founded in the year 2014, INATAREM has become one of the trusted remittance service providers. With the help of this remittance service, you can easily send the money from Australia to Nepal.
The major advantages of InstaReM are:
- Low Cost: It charges minimal fees for every transaction.
- Easy Transfer: The steps involved in transferring money is easy through InstaReM.
- Loyalty Points: InstaReM allows remitters to earn bonuses also known as InstaPjoints upon signing in and each transfer.
Process:
The process involved in sending money through the use of InstaReM is easy, transparent, and cost-effective. Further, the simple registration process makes it easier.
- Visit the site https://www.instarem.com/transfer-money-to-nepal and go the Sign Up page.
- Fill in the personal details along with the identity proof.
- Upon completion of filling out the form, InstaReM verifies the account making remitter eligible to send money anywhere in Nepal.
In these three simple steps, the remitter in Australia can easily send money to anyone anywhere in Nepal. So, next time you wish to send money to Nepal, you can rely on InstaRemit for the transfer.
Read Also: How to send or transfer money from Australia to Nepal throught InstaRem
C. Skrill
Skrill, also known as Moneybookers, is an e-commerce business allowing money transfer from one country to another. The major focus of Skrill is the efficient use of the internet for providing better service to the customers specializing in low-cost money transfer.
Registered as a major money service business, Skrill has been providing online payment service since 2001. For over 18 years, Skrill’s primary focus has been on delivering the best service to the remitter from all around the world.
The use of Skrill requires both recipients and the sender to open the Skrill account for completion of the transaction. The process involving opening a Skrill account and transferring money from Australia to Nepal is easy and fast. The detailed process is as below:
Process of sending money through Skrill
1.Open account
The first step in transferring money from Australia to Nepal is opening the skrill account. The remitter as well as beneficiary needs to have the skrill account. To open the Skrill account, visit the official site of Skrill and the following steps.
- Enter the account opener email address.
- Create a password
- Fill personal details and click on NEXT
- Choose the country, currency, enter telephone number.
- Thoroughly read the terms and conditions and tick the box
- Select an open account.
2. Link recipient skrill account to eSewa account and to bank account
Skrill allows the customer to transfer the money directly to the bank account or to the eSewa account. For this, the receiver needs to link his/her Skrill account to the eSewa account and the bank account.
3. Upload the money
The sender or the remitter needs to upload the money in the Skrill account. The money can be uploaded from the bank account.
4. Transfer from sender’s Skrill account to recipient’s Skrill account
Once the money is uploaded, the sender needs to transfer the money to the recipient’s account which takes place instantly
5. Transfer money from skrill to eSewa or bank account
Once the remitter sends money through the Skrill account, the recipient can either transfer the money in the Skrill account to the eSewa account or the bank account.
If the money is transferred to the eSewa account, the recipient needs to again transfer from eSewa to a bank account. This process might take an hour. Finally, once the transfer is made, the recipient can withdraw the money through the ATM card or the cheque issued by the bank.
In this way, the money can be easily sent from one country to another using the services provided by the Skrill e-commerce business.
Read Also: How to send or transfer money from Australia to Nepal throught Skrill
D. TransferWise:
TransferWise is an online money transfer service company that provides money transfer services from one country to another country. Transferwise is another best way to transfer money from Australia to Nepal.
Founded in 2011, TransferWise has been providing money transfer services for over 10 years. Backed up by more than 2000 employees worldwide, the service provided by TransferWise is easy, reliable, and fast.
Currently, the company supports above 750 currencies worldwide including USD, EUR, CAD. AED and many more. As of 2018, the company successfully profited 8 million dollars while the customer base increased to four million with a 4 billion dollars monthly transfer.
Transfer Process of TransferWise
TransferWise does not aid in the direct transfer of money from the sender to the recipient as in SWIFT. It matches the amount of the sender with other user’s amount another way around then uses the pool of funds to pay via local bank transfer.
Hence, the process involved in this service is different from the conventional concept of money transfer where the sender sends the money to the bank account of the recipient.
Processes involved in transferring amount from Australia to Nepal through TransferWise
- Create an account: First of all, the sender needs to create an account. To create an account, go to the official website of TransferWise. You would require an email address and choose the password to create the account.
- Set up the first transfer: Once the account is created, you will be directed to a page where you can insert the details of the remittance amount and the calculator itself generates the fees and the commitment time too.
- Fill out sender’s details: The site requires you to enter your name including phone number, address and email address (Optional)
- Fill beneficiary’s details: TransferWise requires the beneficiary’s details including the bank details. The recipient needs a bank account but the transfers account tis not compulsory.
- Pay for the transfer: The sender needs to make the payment for the transfer for which the sender can choose either of the following options.
- Bank transfer
- Debit Card
- Credit Card
Read Also: How to send or transfer money from Australia to Nepal through Transferwise
E. Remitly
Remitly is one of the digital remittance service providers. Its mission is to transfer money from one country to another country in a fast, affordable, and transparent way than any other remittance service provider.
The Remitly is completely digital and has no physical locations enabling them to keep low cost of service and giving back to the customer.
How to transfer using Remitly:
To make a transfer using Remitly the sender needs to have the account. The detailed process is:
- Go to remittly.com or open Remitly application
- Sign in to the account
- Enter the amount intended to be sent.
- Select delivery method and speed
- If senders choose Bank Deposit, remitter needs to select the recipient’s bank account or choose Cash Pick up and preferred location.
- Enter the Recipient’s Bank Details
- Enter recipient address, phone, name, birthday, address, the reason for sending.
- Review payment details and edit where necessary
- Once everything is confirmed, click of Confirm Transfer
- Once the transfer is confirmed, the sender will receive an email in email address about the confirmation
In this way, Remitly helps the sender send money from one Australia to Nepal.
Read Also: How to send or transfer money from Australia to Nepal through Remitly
2. Bank transfers
Apart from the remittance service provider like WorldRemit, TransferWise, and many more, anyone wishing to send money from Australia to Nepal can transfer through banks. The bank transfer allows money to move between different nations on the SWIFT network.
Usually, the commercial trade between seller and buyer is carried out by the Bank Transfer which is a legalized way of transfer.
However, any individual wishing to send money to friends and family in Nepal can also use the Bank Transfer mechanism. Though the transfer is expensive and slower compared to the service of remittance companies, a bank transfer is a more legal way of money transfer.
- SWIFT for fund transfer electronically
When the fund is transferred through banks, the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network is behind most of the transfer. SWIFT is basically a messaging network that banks and financial institutions for accurate, secure, and quick transfer of money from one place to another.
To send the money through banks, the sender needs to visit the nearest bank that is in the SWIFT network, fill out the form, and make the payment. The message for the transfer is given to the recipient in Nepal who will be able to withdraw the money from the assigned banks in Nepal.
It is one of the best options for the transfer of money for commercial purposes.
For example, if the buyer of products in Australia needs to send money to any Nepalese seller, the transaction between them is handled by the intermediary i.e. banks for the successful completion of the transaction between buyer and seller.
Read Also: How to send or transfer money from Australia to Nepal through Bank transfer
Comparison between money transfer companies
From among different remittance servicer provider, it could be difficult for any remitter to select the best one.
Before the sender sends the money, he/she should be able to make a comparison between the service provider and choose the once that better suits the needs. The criteria of the comparison could be as below
- Exchange Rates: the exchange rates vary from one service provider to the next. Even a few cents of difference could make a big difference when exchanging to Nepalese rupees. Hence, remitter needs to thoroughly analyze the service provider and chose the best one.
- Pick up options: Different remittance service provider has different transfer service. While one company allows the customer to get the money transferred to the recipient’s bank account, next could offer cash pick up service. Remitter needs to find the best alternative that caters to the sender’s and recipient’s needs.
- Reliable customer service: First time users may require continuous support from customer service. Hence, first time users would want to choose the company that provides continuous service through phone, chat, or email.
- Limits: The transfer amount limit differs from one service provider to the next. Hence, remitter needs to thoroughly evaluate each and every available option and choose the one that is best suited to them.
- Flexibility and transparency: At last, but not the least, the remitter should compare between different service providers and chose the one that is transparent and provides the option to track the money until it is received by the beneficiary in Nepal.
Based on the above criteria, any remitter needs to choose the best alternative available to them for getting better service.
Conclusion
Finally, the detailed explanation of the process of remittance as above suggests that the fund transfer service and mechanism differ from one service provider to the next.
The remitter or the sender needs to thoroughly check the services provided by the companies and choose the one that suits the remitter’s needs.
Hopefully, the detailed explanation will help you analyze the services of different companies and aid you in your quest to find the best service provider that caters to your needs.
Related terms and posts
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Author Asmita Sharma