How to transfer money from India to Nepal

Hello guys,

I have been trying to find the cheapest way of getting money from India to Nepal. I know almost every remittance available in Nepal can do that but with extra charges. Is there a way of getting money from India to Nepal without paying any charge like account transfer? I have heard that some of the banks like SBI in Nepal are of india origin. So I was thinking of they might provide money transfer service from indian account to nepalese account.

Thanks

asked 04 Sep '16, 16:36

prabin-rai's gravatar image

prabin-rai
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accept rate: 50%


I agree with @ladipma. Unfortunately, there's no way to transfer money from India to Nepal for free. So remittance service is the only option. Banks in India which are NEFT scheme enabled will be much cheaper because this scheme also includes Indo-Nepal Remittance Scheme. To see NEFT scheme enabled banks of india, visit on this link. Indo-Nepal Remittance Scheme is handled by Nepal SBI in Nepal. IME and Prabhu money transfer also provides remittance under this scheme. If a beneficiary holds Nepal SBI bank account, then only 20 INR is charged for up to 50000 INR whereas if a beneficiary doesn't holds Nepal SBI bank account, then 70 INR is charged for up to 5000 INR and 95 INR for up to 50000 INR. It doesn't matter if a remitter hold any back account or not. To transfer money more than 50000 INR, please visit this link. Looking at charges detail, I think SBI is more cheaper then other remittance to transfer money from India to Nepal.

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answered 06 Sep '16, 00:00

anup-kulung's gravatar image

anup-kulung
325171721
accept rate: 44%

edited 06 Sep '16, 01:05

Thanks anup... You answer is really informative. I will definitely try with Nepal SBI.

(06 Sep '16, 16:23) prabin-rai

Hi. Yes, Nepal SBI is a subsidiary bank of SBI. But they are working under the two different countries' banking monitory policy. So, because of that they don't do the account transfer thing for free but they surely do transfer money to one another's account taking the least charge as cross border account settlement fee. And also Everest Bank Nepal as a joint venture partner of Punjab National Bank they do have the facility of online Indo- Nepal remmittance service with minimal charges. So, i would recommend you to go for one of these banks' service. If you' re really looking forward for cost free service like hundi which is illegal and not safe might cost you a fortune . So better be cautious friend.

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answered 04 Sep '16, 23:57

ladipma's gravatar image

ladipma
889911
accept rate: 40%

Thanks ladipma. Your information was helpful too.

(06 Sep '16, 16:24) prabin-rai
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question asked: 04 Sep '16, 16:36

question was seen: 1,238 times

last updated: 06 Sep '16, 16:24

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