Choose your service. Not all money transfer services send money to Nepal from Hong Kong. Use our table to see which ones do and compare exchange rates, transfer fees and more.
Create an account. This usually involves providing some form of identification, like your government-issued ID, driver’s licence or passport, and proof of address.
Pick your payment method. You can typically choose to pay with your bank account, credit card or debit card.
Choose your delivery method. Do you want to send money directly to your recipient’s bank account, to their mobile phone or arrange a cash pick-up in Kathmandu, Pokhara or Patan?
Enter your transaction details. This includes the transfer amount, the currency you’re sending and the recipient’s information.
Review your transfer. Make sure the receiver’s details are correct. You can also review the final exchange rate and any other fees.
Send your funds. The money will be deposited into your recipient’s account in Nepal.
Receive email/SMS confirmation. This will include your tracking number and a confirmation of your transfer. If the recipient is picking up cash, they’ll need to present this at collection.
How to compare money transfer services
Exchange rates. These will vary depending on the money transfer service you use. Check out the mid-market rate on Google or Reuters to see if you’re getting a good deal. Even an exchange rate that’s only a few cents more or less can make a big difference.
Convenient pick-up methods. Some transfer services will offer cash pick-up, which might be important if you’re sending the money to a travelling relative who needs emergency cash, or a relative who lives in Nepal and doesn’t have a bank account. Other methods might include transferring to a bank account or mobile wallet.
Flexible transfer methods. Some services will allow you to transfer money online, over the phone, or at specific kiosks such as MoneyGram and 7-Eleven stores. Ensure you choose a service that has a convenient transfer method for you.
Short transfer times. Cash pick-up is one of the fastest transfer methods, especially if you’re paying by card, but it can mean higher fees. Transfers to bank accounts usually take between one and five days depending on the service, but often end up cheaper.
Transfer amount limits. While most transfer services have large maximum limits, some will have minimum transfer amounts, which can be as small as $1 or as large as $5,000. Keep this in mind if you’re planning on making a smaller transfer.
Reliable customer service. If you’ll be using the service regularly, it’s a good idea to choose a provider with 24/7 customer service options. This includes phone, email and live chat support to help you along the way.
Exchange rates explained
An exchange rate determines how much one currency is worth in another currency. When a currency is strong, it yields more money when exchanging it for a weaker currency. Nepal’s exchange rate is flexible, which means it can change from moment to moment due to factors such as interest rates, economic stability and inflation.
Below, you can see a real-time update of what the mid-market rate for HKD/NPR is, as well as what it has been historically.
HKD to NPR: Historical rate chart
Updated: 26 Oct 2020 21:31:11 UTC
What ways can I send money to Nepal?
Local bank. You’ll need to speak to your bank to see if they offer money transfers to Nepal. Generally, you’ll be hit with higher fees and a worse exchange rate than most online money transfer services.
PayPal. PayPal is well known for making international payments, but beware of the many fees charged at different stages of the process.
Money transfer specialist. These services often have better exchange rates, lower fees and more flexible delivery options than your local bank. They’re mostly online, so you can’t go into a kiosk or a branch to transfer.
Services with cash pick-up. Often the fastest method of transferring money, but one of the more expensive.
International cheque. These can be found at your local post office or bank and are sent by mail, making the process quite slow.
Let’s crunch the numbers: Two money transfer companies compared
Let’s look at how two money transfer companies compare head-to-head. Both of these transfers are for HK$5,000 to be sent from a bank account in Hong Kong to a bank account in Nepal.
Money transfer service 1
Money transfer service 2
1 HKD = 14.30960 NPR
1 HKD = 14.50306 NPR
1-2 business days
1 business day
Total rupees received
This is a good example of why you should look at both the fees and the exchange rate. Here, despite the second transfer service having a higher fee, the receiver still ends up with more because the exchange rate is quite a bit better.
Emergency cash transfers in Nepal
If you’ve lost your wallet and require emergency cash in Nepal, there are a few methods you can use to get some sent to you.
Transfer service with cash pick-up options. Companies like WorldRemit, Ria and Western Union allow you to pick up cash from designated locations (mentioned in the section below). This can be sent from Hong Kong and made available within 10 minutes. You can have money sent to you online using the transfer service’s website.
Emergency cash through your credit card company. Some credit card companies will give you a small amount of cash if your card is reported as lost or stolen. This cash is designed to help you pay for essentials in the time it takes for your bank to send you a replacement card. To organise this, contact your bank using their dedicated card theft/loss phone line.
Travel insurance. Your travel insurance plan might provide you with emergency cash in the event of a medical emergency, theft or other circumstances. In most cases, you’ll have to provide proof of the emergency, including police reports and more if theft occurred. Always check your policy’s terms and conditions before travelling to ensure you’ll be covered.
Tips for picking up cash in Nepal
The HKSAR Security Bureau website states that travellers visiting Nepal should exercise a moderate degree of caution. You should closely monitor your belongings and know that local strikes can occur without notice, meaning that the businesses you’re hoping to pick up money from may be closed. Make sure you don’t pick up cash alone, and always visit the HKSAR Security Bureau website for updates and information regarding safety and security.
Cash pick-up locations in Nepal
Bank of Asia Nepal Branch Office Ka Ma Na Pa Ward No 33, Dilibazar +977-1-4434365 Open from 9:15am to 6:15pm Monday to Sunday
Bank of Kathmandu Branch Office Ka Ma Na Pa Ward No 10, New Baneshwor +977-1-4460699 Open 10am to 5pm every day except Saturday
Everest Bank Maitidevi Near Seto Pul +977-14-445172 Open 9am to 5pm Monday to Sunday
Nic Asia – Thankot Thankot – 8 Thankot Buspark Open 8am to 6pm Monday to Friday and Sunday Open 10am to 12:30pm Saturday
Agricultural Development Bank Branch Office Pokhara Municipality Ward No 9, Newroad Kaski +977-61-539126 Open 9:15am to 6:15pm Monday to Sunday
H and B Development Bank Branch Office Pokhara Municipality Ward No 10, Rambazar +977-61-432450 Open 9:15am to 6:15pm Monday to Sunday
Nepal Bangladesh Bank BP Marga Chiple Dhunga Pokhara Kaski Open 9:30am to 5pm Monday to Friday and Sunday Open 12am to 12pm Saturday
Civil Bank Sabhagriha Chowk Phewa Marg Open 8am to 6pm Monday to Sunday
Frequently asked questions
You’ll get a better exchange rate when either the Hong Kong dollar is strong or the Nepalese rupee is weak. While it’s impossible to predict how either of these currencies will move, you can look at a few factors that could influence them, including:
The political climate, especially if there’s an election soon
Interest rate changes
The level of debt the country has
Although it varies, you’ll generally need:
Your recipient’s full name and bank account details
Zyane Tan is an associate editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
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