How To Send Or Transfer Money From India To Nepal Through IME

How to send money from India to Nepal through IME: –The world we live in goes around money. The world economy completely relies on the one important and multifaceted thing that is Money where every aspect of the economy is somehow related to the use of money and its transfer.

This article talks about the money, its importance, characteristics, nature, and most importantly its transfer from one country to another country specifically from India to Nepal using one of the reliable options or remittance service providers that is IME (International Money Express).

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What is Money?

Money is anything that is usually recognized as the payment for any kind of facilities and products in a country of any kind of economic context. It can be any verifiable record or item that mainly functions as the “Medium of Exchange”.

Remittance

Remittance is usually known as the transfer of money from one country to another often by any worker in a foreign country to an individual located in the home country or location. Any developing country’s major source of financial inflow is the money that is sent by migrant workers along with international aids.

Globally, remittances have larger roles in the running of the economy of a lot of countries. Remittance does contribute to the livelihood of people of many underdeveloped countries and developing countries around the world while contributing hugely to the economic growth of those countries.

With the increase of globalization where there is less restriction in the movement of manpower from one country to another country, the role of remittance and the companies that provide remittance services are huge. Without remittance, the economies of many underdeveloped countries could shrink within a few years.

Read Also: Best Way Transfer Money From India To Nepal Through IME

Remittance for Nepal

Nepal is one of the countries that usually receive a huge amount of remittance mainly because of the increase in the number of foreign migrant workers all around the world.

In 2018, Nepal was the 19th biggest recipient of remittance sent by the Nepalese migrant workers from all over the world. The figure stands at 8.1 Billion dollars according to the World Bank report that was released in the year 2018. Similarly, in the fiscal year 2019, Nepal received the remittance of 7.8 billion dollars contributing to 25.4% to the GDP of the nation. (Source: Nepal Rastra Bank Report).

Nepal obtains maximum transfer from Gulf countries. According to Nepal Rastra Bank, gulf countries only contributed to 50.3 percent of total remittance inflow to Nepal in the first quarter of the current fiscal year (2020). Among all the Gulf countries the remittance received from Qatar is largest followed by UAE and Saudi Arabia.

While remittance does contribute to GDP to the economies of developed countries, its importance is evident for the countries with low income. Generally, remittance is completed in simple 3 steps.

The first step sender pays the remittance to the sending agent using cheque, cash, or debit card using e-commerce. Secondly, the sending agency instructs its agent in the recipient’s country to deliver the remittance. Finally, in the last step the paying agent or union operator makes the payments to the receiver.

The cost of remittance includes transaction cost or fee that is charged by the sending agent which differs from the remittance companies.

Over the past decade, due to the fact that many people are going abroad for employment, the remittance is increasing every year.

While the government is planning to create more domestic employment, it is not easy to provide opportunities to lots of youths of Nepal with a huge financial burden which has instead encouraged Nepalese youths to search for more attractive job opportunities abroad thereby increasing the remittance to Nepal.

Remittance from India to Nepal

India is one of the countries where a huge amount of remittance is sent to Nepal. Due to the open border between two countries, lots of Nepalese migrate to India in search of better job opportunities which leads to an increase in remittance each year. According to Nepal Rastra Bank, last year, Nepal received 128.5 Billion Rupees as payment or remittance from India only.

Nepalese have been going to India for better job opportunities for centuries as Nepal and India have had close relations due to close proximity and the shared culture.

How to send or transfer money from India to Nepal throught IME
How to send or transfer money from India to Nepal throught IME

Apart from that, due to open border Nepalese and Indians can work in each other’s country without any restrictions resulting in an outflow of thousands of Nepalese migrants to India every year.

Every migrant worker wants to send their hard-earned money to their families in Nepal and that’s where the role of remit companies comes to light. Remittance companies provide remittance services with less service charge and legally as well.

In remittance, the sender of Money is typically known as remitter and the receiver is the beneficiary. Remittance companies provide the remittance services through which the remitter is allowed to send money to the beneficiary.  

Read Also: Best Guide to Transfer Money From India To Nepal Through IME

List of Remittance companies in Nepal

There are a lot of remittance companies in Nepal. Below are the few ones that provide reliable and easy remittance service in Nepal. Each remittance services providers have unique characteristic and features that make them the best remittance service provider in Nepal.

  1. IME Limited
  2. Nepal remit international
  3. Prabhu Money transfer
  4. Sansara Money Transfer
  5. Himal remit
  6. Prithvi Remit
  7. City express money transfer private limited
  8. Siddhartha remit

IME and its role in transferring money from India to Nepal

IME (International Money Express) remit is the remittance service provider that specializes in the delivery of fast, reliable, and easy money transfer services to friends and families all over the world. IME remit has been providing remittance services for over 15 years.

With an intricate network of more than 150000 payout locations all over the world and support of over a thousand diverse workforces, the customer base of the company has raised to over millions allowing IME to provide reliable service to its customers.

Read Also: Best Way To Transfer Money To Nepal From India Through Bank

The role of IME remit for the migrant workers is huge as Nepalese migrant workrs working around the world rely on IME to get their money to the loved ones in Nepal.

Major features of International Money Express’s remittance service

IME remit is established with the sole purpose of providing the best remittance services to customers from all over the world. Backed up by thousands of skilled and qualified employees, agents, and management teams, IME has become one of the best remit companies in Nepal.

IME’s salient features are

  1. Transparent and reliable services: IME is one of the best remit companies in Nepal that provides reliable service to the customers. IME ensures the customers are satisfied and keep track of money until it is handed over the beneficiary in Nepal. Once remitter sends money through IME, remitter is ensured of the best service by the company.
  2. Intricate network: IME has one of the best and intricate networks comprised of thousands of representatives that work together for easy, fast, and reliable service. IME has expanded its business not only in India and Nepal but all around the world.
  3. Advanced technology: IME is always adaptive to the change. With the advancement of technology, IME has been adopting the best technology for providing better service to customers.
  4. Less remittance service charge: The IME Remit provides fast and reliable services while charging fewer remittance charges. It charges an affordable remittance charge.
  5. Easy and fast service: Any past user of IME remit service speaks highly of it. No doubt, it provides a very fast, reliable, and easy remit service that exceeds the expectations of the remitter as well as the beneficiary.
  6. Extensive customer base: With intricate networks all around the world, IME remit has an extensive customer base. The customers of IME remit are loyal to the company and IME does excel in providing the best service to is customers.
  7. Money Tracking Service: IME remit allows its remitter track the money. To track money, you can visit the official website http://www.imeremit.com.np/money-track/. By entering the IME control number, remitter and beneficiary, you can get the update on the status of the money. This is one of the best services provided by IME Remit.

Looking at the features of the International Money Express, it is no doubt the best remittance services provider on which the remitter and beneficiary can put their trust.

Moreover, it is reliable and transparent. With easy processes and advanced technology, IME remit allows the remitter and beneficiary to get the best service.

International money express ime
International money express IME

How To Send Or Transfer Money From India To Nepal Through IME – Processes involved

IME’s service allows its customers to send and receive money from different parts of the world. It includes cash transfer, cash to account transfer, and online transfer.

1. Cash Transfer

IME cash transfer requires co-ordination between the sender and the receiver of the funds where both parties are equally responsible for the completion of the transaction.

First of all, the sender of the fund needs to find the nearest IME branch, agents, or principal companies and fill out the remittance form. The senders need to carry the valid identity proof which needs to be submitted to the IME representative along with the form.

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Read Also: Step by Stpe guide to Transfer Money From India To Nepal Through IME

The remittance form should be duly filled including the receiver’s as well as sender’s details.

Upon the completion of filling the form, the sender needs to handover the remittance form, remittance fee, and the remittance amount to the IME representative or the agent for fund transfer. The sender needs to mandatorily get the 11 digit code also called IME control number and send it to the receiver in order for the receiver.

Once the code is received by the receiver of the fund, he/she needs to visit the IME outlet in Nepal and provide the IME control number (ICN) and the citizenship copy to the agent and collect the amount from the IME fund.

This simple remittance service provides by the IME is reliable and secure for all the foreign migrant workers who are in dire need of sending money to relatives or friends in Nepal.

The processes involved in using IME service to send money from India to Nepal can be summarized as below.

  1. Visit the IME branch near you
  2. Fill out the form for remittance
  3. Provide the citizenship number of the receiver whom the money is being sent
  4. Handover the amount that you wish to transfer
  5. Get the confirmation code or unique 11 digit IME Control Number (ICN) and the transfer invoice from IME representative or agents
  6. Inform the recipient of the money and provide the IME number or confirmation code to the receiver
  7. The receiver in Nepal needs to visit the IME counter and get the remittance amount. ICN and valid citizenship copy of the receiver are mandatory.

2. Cash to Account transfer:

Cash to account transfer ensues transfer of money from one country directly to the account of the receiver. It does not require the receiver to visit any IME outlets to withdraw cash immediately. The cash gets deposited in the account and the receiver can withdraw amount whenever required.

Similar to Cash Transfer, cash to account transfer requires sender visit any of the office’s branches, agents, or principal companies and fill out the form mentioning receiver’s and sender’s personal details and handover to the IME representative.

Read Also: How to Transfer Money From India To Nepal Through IME?

Once the transfer is made electronically, IME sends an automated SMS notification to the receiver allowing the receiver to know about the transfer completion. The receiver can withdraw the amount when convenient.

Process Involved can be summarized as:

  1. Visit the IME branch near you
  2. Fill out the form for remittance
  3. Provide the citizenship number of the receiver whom the money is being sent
  4. Handover the amount that you wish to transfer
  5. Monitor for the confirmation SMS sent by IME allowing the receiver to know about the transfer

3. Online transfer

In today’s digital world, online transfer is one of the best options for tech savvy people. IME’s online fund transfer service allows customers to easily transfer funds from the comfort of home without having to visit the IME outlet or office.

The online transfer requires the sender to register in the online system of IME by providing the email id of the sender. Once the sender is registered with IME online, he/she can select the country, the amount that is intended to send, and the payment mode.

money transfer to Nepal through IME, a video from YouTube

Similarly, the sender needs to mandatorily provide the receivers details including name, address, and contact number.

Finally, once the payment completed through the card the transaction is ready and it will be accessible for the receiver to take withdraw from the pay-out end in different countries.

In this easy few steps, customers can make the use of IME to transfer money from one country to another with less effort in the matter of a few hours.

Process Involved can be summarized as:

  1. Register in the online system (IME online)
  2. Provide details including the receiver’s details and amount, country and payment mode
  3. Make payment electronically using Credit card or debit card

These are the processes to transfer money from India to Nepal using the best remittance service provider that is IME remit. The processes are easy and hassles free as IME ensure client’s privacy

Importance of IME (International Money Express)

IME remit has become one of the leading remittance providing company which has its presence worldwide. The company has always been adopting the latest technology with the hope to serve customers with fast reliable and easy service.

Over the past 16 years, the company has evolved from manual to digital fund transfer technologies and has adopted to change for good. Because of the intricate and bilateral relationships with companies internationally, the remittance company has evolved as one of the leading companies that help international migrants.

IME remit has been not only serving customers to send money from one country to another, it has aided in bringing the emotional value to the money. This emotional value helps IME to enhance the customer base. The concept might be simple but its emotional benefit is huge.

Conclusion

Hence, the services provided by the IME group has been very helpful for all Nepalese around the world to send their hard-earned money to the loved ones in Nepal. Moreover, its importance in the economic growth of the entire country is unprecedented.

Especially since Nepal and India have close relations for centuries and lots of Nepalese migrants work in India, their need of sending money to Nepal to their loved ones is aid by the IME Remit.

Due to minimized risk associated with the use of IME and its easy accessibility, IME has become one of the leading remittance providing service-oriented company in Nepal and is one of the finest options you can have to transfer money from our neighboring country India to Nepal.

So, next time you wish to send money from India to Nepal, you can use IME remit for safe and easy transaction. The processes involved are easy and reliable.

You can use cash transfer, cash to account transfer, or the online transfer as per your convenience and get the service of the IME (International Money Express).

Related terms & posts

  • Money Transfer To Nepal
  • Transfer Money From India To Nepal Through IME
  • How To Send Money From India To Nepal Through IME
  • Send Money From India To Nepal Through IME
  • How To Transfer Money From India To Nepal Through IME

Author : Asmita Sharma

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