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While there are numerous methods for making international payments, it is still a complicated process. There are now only a handful types of international payment options available from Nepal. You must either use the bank’s swift services or the remit services of the bank or private companies. Here are the easist means of making international payment from Nepal.
How to make International Payment from Nepal
Dollar Card
In March of 2021, Nepal Rastra Bank launched the Dollar Card in Nepal. Customers of commercial and development banks have begun to receive dollar cards. The pre-paid card can be used for a variety of worldwide digital transactions with a maximum balance of USD 500 per year. You may pay for services such as Amazon or even online classes, and you can also pay for Netflix to watch movies and some good series. The dollar card is currently issued by 11 banks. Commercial banks in the “A” and “B” classes have begun issuing the card in accordance with NRB regulations. Machhapuchchre Bank, NMB Bank, Nepal Investment Bank, Nabil Bank, Prabhu Bank, Mahalaxmi Bikas Bank, Kumari Bank, Global IME Bank, Himalayan Bank, Siddhartha Bank, Siddhartha Bank, and Sunrise Bank are among the banks that have issued the pre-paid cards.
How to make Dollar Card in Nepal?
- Fill out your form at the Nepal Rastra Bank’s authorized bank according to your preference.
- If you haven’t updated your Know Your Customer (KYC) form in a while, do so once you’ve visited the bank.
- Present your Permanent Account Number (PAN).
According to the banks, the minimum amount is unbounded. Customers must pay this price each time they load money into their dollar account since the amount loading fee is Rs. 500. Some banks may face additional fees, such as secure register fees and VAT. The card’s purpose must also be stated by the buyer. The bank will open a dollar account and link it to your primary account once the customer submits the entire document and form.
PayPal
PayPal is the quickest and safest way to send money over the world. Although it has some limits, this is the legal way to get your PayPal account verified in Nepal. You can use the Payoneer Master card to validate the Nepalese PayPal account for free.
Creating your PayPal account:
- PayPal only has a personal account for Nepal. To register, you will need to provide your email address as well as your password.
- Your entire name, date of birth, address, postal code, and phone number are all required by PayPal. So, enter your details carefully.
- As per your credit card or debit card information, PayPal requires the following information: credit or debit card number, expiration date, CVV code, and billing address.
If you don’t already have an international card, you can use Payoneer to request a free MasterCard to be sent to your address. Your card will take about one month to arrive. It is suggested to make sure all your details are correct as well as legal.
Movo Cash App
Movo is more than a financial hub, a mobile payments wallet, or a banking service. It’s an all in one digital and financial solution built for speed and backed by unrivaled security, allowing you to accomplish more with your digital currency network in real-time, directly from the app. Movo Cash App is a mobile banking app established in the United States that offers a virtual US bank account as well as a virtual Visa card linked to that account, making it one of the finest apps for international transactions for Nepalese. We can put money into our bank account/wallet and utilize it with our Virtual Visa Debit card because we have a USD bank account/wallet and a Visa Debit card. Since the card is virtual, we don’t have to worry about it being delivered like a Payoneer MasterCard, and because Movo Cash doesn’t have the same rigid policies as PayPal, there’s a far lower possibility of being banned or limited.
Read: How to Send Money from Nepal to Abroad
Finally, with the assistance of your bank, you can send money from Nepal to any other country using Swift transfer. However, it is not that simple because you must submit documents and explain your payment purpose, reasons, and other government processes such as obtaining permission from the Nepal Rastra Bank. So, these are a few ways you can make your international payment from Nepal. If you have any queries, please post them below.
