Highest remittance rate for converting 1 AUD to NPR = 92.02
There are several ways through which you can use to send money from Australia to Nepal. However, this does not guarantee that each method is the best for you. At ERIQ, we help you quickly find the cheapest way to send money abroad using updated data. You also get to save yourself time since our analysis only takes seconds.
Many people are stuck between options when it comes to sending money from Australia to Nepal because of the many available and confusing options. Thanks to Exchange Rate IQ however, you can quickly select a suitable money transfer service and learn how services like XE Money can make life easier for you.
According to the Australian migration office, there are thousands of Nepal migrants living and working in Australia. Regularly, this group requires to make international remittance to send money back home. Nevertheless, the migrants have more than one reason to want to send money back home. Depending on why you may want to complete this transfer, you have to understand that the various available options are ideal for multiple reasons that you will find out about later on here.
No one wants to send money expensively, and that is why it is a good idea to make sure that you compare rates and services before making your selection. Typically, there are three main ways through which you can use to send money from Australia to Nepal cheaply, and they include;
Bank transfers: As one of the longest existing money transfer agents, banks are still a significant player in the international remittance industry. The only thing that has changed is the fact that technology has made mobile banking a possibility. Today, you can quickly transfer money from your bank account in Australia to an account in Nepal using only your phone. When using bank transfer to send money, you need to ensure that you go for the right exchange rates and low service costs. That is since they vary depending on the kind of banks that will be involved in the transfer. Usually, bank transfers take a couple of days to mature, and the services have been widely used by migrants repurchasing property home.
Online money transfer services: These are the newest money transfer agents in the game. Through money apps, you can send money around the world instantly without spending a lot of money. If it means anything, you should know that services such as XE Money will allow you to send money for. Generally, online money transfer services are the cheapest way to send money from Australia to Nepal. Because there are so many apps that claim to offer the service, you need to consider your safety before selecting one. From what we have from the consumers, some of the top money transfer apps include; WorldRemit, Remitly, TransferWise, Ria, and XE Money. You should be on the look out for con artists that pose like genuine online money transfer services if you are sourcing out of ERIQ.
Cash delivery and pick-up services: before technology, cash pick-up services were the only way of sending money to most parts of the world. With services such as Western Union taking the front line in offering cash delivery services from around the world, it is one of the best ways to send money to Nepal. However, their cost of service is relatively high compared to options such as money apps. However, it is safe to say that cash delivery services are the fastest ways to send money from Australia to Nepal. It explains why the services are a bit costly. The best part is, even cash delivery services are becoming more digitized, and through the Western Union App, you can still send money for pick up in Nepal through your phone. MoneyGram is the best alternatives available for your cash delivery and pick-up needs.
To enjoy a seamless money transfer process, you should consider the following;
The kind of transaction: understand why you are sending money and which transfer option best suits the purpose. If you are sending money back home to your family, for example, you will want a simpler option that is fast and less costly and here, you will find money transfer apps to be more reliable.
Cost of service: there is no need of spending more money with your transfer and that is why cheap money transfer services always win. However, it is good to know that there are some relatively expensive options like instant online money transfer services. The cost of service differs depending on the transfer agent that you choose to work with.
The other end: the best way to send money from Australia to Nepal only counts if the receiver gets his or her money. With that stated, it is important to see to it that you only work with services that are available in both Australia and Nepal and this includes banks if you want a more straightforward transfer service.