About Nepal and Canada
When sending money to Nepal, keep in mind that different tax regulations may apply. Some of the factors affecting the tax may include:
- What method you are using to transfer money to Nepal
- The amount of money you are sending
- Fund Source - some services might ask.
- Whether the money is taxed elsewhere
For example, supporting family members by paying for living expenses is usually considered different from sending large sums of money abroad as a gift.
As mentioned earlier, among the many methods at your disposal for sending money to Nepal from the Canada are online cash transfers, bank deposits, online transfer platforms, bank wire transfers. Third-party ones with cash pick up points like Western Union.
Below is an updated comparison of these money transfer services that you can use to send money to Nepal from the Canada. To get more accurate rates, please visit Exchange Rate IQ to pick an option that suits you best.
Top options for sending money from Canada to Nepal
The fastest way tosend money from the Canada to Nepal would be through the PayPal services offered under Xoom. It is a fast and convenient way to transfer money through Xoom. Once you pick up a convenient cash pickup point throughout Nepal, your money is typically available in minutes.
Ensure you have a PayPal account for the services to work.
OFX offers 1-2 day transfer of your money to a local bank in Nepal. With no hidden charges and low rates, transferring money from the Canada to Nepal using this services guarantees safety. Once you visit a bank, they issue you with a tracking number to check on the progress of the transfer. Better still, this can be done from the palm of your hands using their app.
Other services like Money Gram, Western Union, including Ria money transfer, offer convenient services as no opening of accounts is required. When you are ready to send money to Nepal, visit any of the above mentioned websites, fill out a form with your details and recipient's details. Upon finishing the application, you will get a user ID and a password. Your recipient uses that information to collect money from any available pickup point.
The limiting factor with Western Union and Money gram is the availability of a pickup point. Mostly found in towns.
Four things to consider before sending money to Nepal from the US
How much will it cost you?
Many money transfer companies will charge you according to how much money you want to send while others are free. But for you to find out, you can use the help of websites like Exchange Rate IQ.
How long will it take?
While you can transfer money to the Canada from Nepal in a matter of seconds, the same transaction can take more than a day, depending on the mode of transfer you choose. From reviews, however, the fastest way to send money from the CANADA to Nepal is online money transfer services.
The offered CAD to NPR exchange rates:
Different money transfer services offer different exchange rates. Another good reason for you to check with Exchange Rate IQ before taking your next move.
How secure is the service?
Cyber-crime is real, and for most online money transfer companies, the safety of the customer is usually the number one priority. That, however,does not mean that you can't get robbed while using these platforms.