6 Best Alternatives To Send Money From Canada To Nepal

Send money from Canada to Nepal:- Sending money from Canada to Nepal can be a daunting task for any remitter mainly because of the plethora of remittance service providers available that claim to deliver the best remittance service to their customers.

Choosing the best remittance service provider from among all the remittance providers is difficult.

Hence, this article has intended to analyze the service provided by different major remittance companies like Skrill, WroldRemit, etc to give you an idea about the services and major criteria that need to be considered before choosing the company for sending money.

Things to consider before Send Money From Canada To Nepal

Before choosing the transfer company and trusting the remittance provider with your money, you need to consider a few things. The remitter needs to be able to compare the remittance service provider based on the need of the remitter and the pros & cons of every remittance provider.

Below are a few criteria that need to consider while comparing the remittance service provider.

• Exchange Rates:

 The conversation or exchange rate is the first criterion that needs to be considered. The conversation rates of each service provider differ.  Even a cent of change could make a huge difference when exchanging foreign currency o Nepalese rupees.

The sender needs to carefully examine the service provider in terms of their exchange rate and chose the best one that is reasonable.

• Pick up options

Pick up of the remittance amount at the receiver’s end differs from one service provider to another remittance company.

Read Also: How To Send Or Transfer Money From India To Nepal Through IME

While one organization permits clients to get the cash moved directly to the beneficiary’s bank account, the next could offer money to be picked up from the pickup locations near them. The sender needs to find the best option that takes into account the sender’s and beneficiary’s needs.

• Reliable client assistance:

First-time clients may require consistent help from client assistance. Henceforth, first-time clients would need to pick the organization that offers ceaseless assistance through telephone or email.

• Transaction/remittance amount Limit:

Transaction and remittance amount limit of the remittance company is one of the most important criteria that needs to be analyzed thoroughly. Sender needs to choose the one that caters to their transaction needs in a year or month.   

• Flexibility and transparency:

Last but not the least, the sender of money should compare different service providers based on their flexibility and transparency.  It is better to choose the one that provides the option to track the currency until it is finally delivered/received by the beneficiary in Nepal.

Benefits of transferring money online

Many foreign migrant workers living in every part of the world are choosing an online system to transfer money to Nepal. When it comes to using online money transfer agencies to send you money, you have to analyze their importance and benefits. A few of the benefits are:

1. Speed: Through online money transfer agencies, you can send money to Nepal very fast. Depending upon the payment and receiving option you choose, the transfer could take a few minutes to a few days but is faster than any other traditional money transfer service.
2. Flexibility: Online money transfer systems are well regulated and remitters are allowed to send money in any figure to Nepalese in Nepal.
3. Security: Security is one of the major factors that need to be analyzed while sending money from one country to another. Online money transfer agencies use various security measures leading to secure, quick, and easy money transfers.

Since online money transfer providers give security and are flexible, reliable, and fast, people requiring to send money from one country to another usually opt for such money transfer companies.

Types of Online Money Transfer Agencies

Various online money transfer service providers help Nepalese in Canada send money to Nepal. Below are the top 10 providers that you can choose from.

1. Skrill:

Moneybookers, also popularly known as Skrill is one of the most important and reliable e-commerce businesses that allows money transfers. It allows money transfers from various countries to Nepal including Canada.

Focusing mainly on low-cost service, skrill has been in the market since 2001 and for over eighteen years, its primary focus has always been delivering reliable and best service to migrant workers from all over the world.

The benefits of Skrill include its fast, easy, and reliable service that is user-friendly and transparent.

Anyone in Canada who is in dire need to transfer money to Canada can use Skrill to transfer money. It first requires opening the Skrill account.

Here, the sender as well as the receiver needs to open the skrill account. The remitter and beneficiary can visit the official website and open an account. The details of the remitter as well as the beneficiary are a must.

Secondly, the remitter needs to upload the money to the account and transfer it to the beneficiary account which takes place easily and fast.

In Nepal, once the beneficiary receives the money in the skrill account, he or she can transfer it to the e-sewa account and finally to the bank account. Using ATM, the beneficiary can finally withdraw the money.

The charges of skrill are low and can easily be used by any person who is willing to send money. This way, using Skrill, you can send money from Canada to Nepal easily.

2. Transferwise

One of the globally recognized online money transfer agencies is TransferWise. It provides easy and reliable transfer services and has been in operation since 211.

Over 10 years, it has devoted itself in given the best services to those who need to transfer money from one country to another. Use of TransferWise’s service could be one of the best alternatives if you are searching for a Transfer Company to send your money from Canada to Nepal.

Today, Transferwise has more than 2000 employees worldwide who work collaboratively to give the best and most reliable transfer services. In the year 2018 only, the company had a profit of eight million dollars. Its popularity in the money transfer industry has been increasing day by day.

To transfer money via TransferWise to Nepal, the sender needs to, first of all, create an account and set up the transfer.

As with all transfer processes, the sender needs to correctly include the remitter’s as well as the receiver’s details while making the transaction. The payment option for transactions includes payment via debit card, credit card, or bank transfer.

One of the pros of TransferWise is that it does not directly help in transfer. Rather, it matches the amount of the particular sender with another amount another way round and then uses this pool of transfers to pay. In this way, TransferWise makes a successful payment to the receiver on both ends.

TransferWise’s improvised services aided by a fast and reliable process makes it one of the most important remittance service provider.

3. WorldRemit:

WorldRemit is yet another remittance service provider that attempts to provide fast, easy, reliable, and trusted money transfer services. Established in 2010 AD, it has been providing service to millions of people all around the world.

Specializing in the Online Transfer Service, WorldRemit has provided a lot of alternatives for the recipient to get the money including cash collection from collection centers, airtime top-up, or bank deposit.

Headquartered in London, it has more than 2 thousand employees worldwide who work collectively to give the best remittance services to customers.

The salient features of WorldRemit include its fast, secure, and flexible services. WorldRemit does provide the trust that is needed by the remitter as well as the beneficiary during any money transfer transaction is done.

Various types of services are offered. Depending upon the requirement of the shipper and receiver, one of the following 3 services can be chosen.

Bank Transfer services allow the sender from Canada directly transfer money to the bank account of the receiver in Nepal.

Secondly, the remitter can also choose to transfer money where the receiver can pick up cash from the pickup locations near them in Nepal.

Lastly, the sender can directly send money to the mobile phone of the receiver through the Airtime Top Up service of WorldRemit.

This way, the sender can choose one of the three services depending on the need of the receiver. WorldRemit could be your service partner if you want to send your money from Canada to Nepal.

4. Remitly

Specialized in the digital remittance service, Remitly is yet another money transfer company that allows any Nepalese migrant workers living in Canada to send money to Nepal.

Remitly’s main mission is to make a fast, transparent, and affordable cross-country money transfer. Over the years, it has successfully provided the best and fast remittance services to its customers.

Remitly is one of the money transfer service providers that is completely digital with no physical outlets or locations. It allows Remitly to minimize the cost and give the service in low cost than its competitors.

To send money via Remitly, the remitter first needs to download and open the Remitly application and sign in. Upon signing in, the remitter needs to fill up the form that requires the sender’s and beneficiary’s details including the receiving options.

Remitter can choose one of three options available based on the need of the receiver. If the receiver wishes to have the transfer amount deposited directly in the bank account, the remitter needs to choose the Bank Transfer option. Similarly, Remitly also provides the option for cash pick up from any pickup location.

Once the transaction is complete, Remitly provides the confirmation mail to the sender as well as to the receiver. The receiver can get the money from the preferred paying outlets or get it deposited in the bank account.

5. OF

OFX is one of the oldest remittance service providers that has been providing service to millions of people worldwide for over twenty years. With the very vast disbursement network, OFX has offices in different parts of the world including London, Toronto, Sydney, and many more. With OFX sender is like to get the benefit from it 24/7.

Feature of OFX.

The main feature of OFX includes its competitive exchange rate together with an extensive banking network and physician offices worldwide. This helps it provide fast and cheap delivery of funds. Similarly, it has an online mobile application for allowing customers to send money easily.

6. Western Union

Western Union is one of the largest money transfer companies that provide fast and reliable money transfer services. For decades, Western Union has been providing a suitable option to everyone to make an easy and reliable transfer of money from one country to another. It also provides a money transfer service from Canada to Nepal.

Western union’s money transfer services are of different types

Money in Minute

Money-in-minute service of Western Union is an easy and reliable transfer option. In this, the sender needs to find an agent or location and fill out the remittance form, also known as the “Send Money” form. It requires the remitter to fill out the details of the sender, and receiver along with transaction details.

Once the fund is transferred, MTCN, a tracking number, is provided to the remitter which helps to track the money.

Transferring money to bank account service

To get this service, the sender needs to, first of all, find the agent’s location and fill out the form. The form requires the sender to provide the banking details of the receiver. Once the transaction is complete, the remitter needs to Save the MTCN (Tracking Number).

Once the remittance process is finished, the cash is normally deposited straight to the preferred bank of the receiver within a few days.

Transferring money directly to a mobile phone

Together with cash pickup from nearby locations and getting the remittance amount directly deposited to a bank account, Western Union also lets the remitter send money to the receiver’s local mobile phone. For this, the sender needs to provide the phone number details while filling out the remittance form.  

Following the procedures above, a migrant worker in Canada can easily transfer money to Nepal. Since the facilities provided by Western Union are varied which is accompanied by fast and secure procedures, it is certainly one of the most favored money transfer providers.

Conclusion

Sending money from one country to the next is a tedious and difficult task. However, with the right transfer partner, you can easily transfer money. This article has provided 6 different alternatives to transfer money from Canada to Nepal.