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chicagoan
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Posted on 05-13-09 9:33
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Guys, Money to Nepal dot com used to have totally fee free service in the past. A friend of mine recently told me that they have stopped doing it anymore and there is a fee of 6.99 if you want to send between 51 to 200 dollars. My friend was not too happy. Do you guys know any other money transfer agency which is either free or charge less? Thanks
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chicagoan
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Posted on 05-15-09 8:52
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newlynew
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Posted on 05-15-09 10:43
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$7 is pretty cheap if you ask me. If anyone provides services, sooner or later they will charge fees.
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PeaceSoul
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Posted on 05-15-09 11:07
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Thats the cheapest you can ever find. Check moneygram in your area.
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thisisbinod
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Posted on 05-15-09 11:50
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Here is an alternative way. Get an additional check card and send it to your parents and ask them to use that card in any ATM machine in Nepal to withdraw money. Let's say they withdraw $100 using your debit card. Your bak will charge $5 international ATM charge. Todays Rastra Bank's forex is
Currency |
Unit |
Buying/Rs. |
Selling/Rs. |
U.S. dollar |
1 |
79.40 |
80.00 | They will get ($100-$5) x 80.00 = NPR 7600 If you use Muncha or similar service their rate is USD 1 = NPR 77.9130 Your parents will receive ($100-$6.99) x 77.9130 = NPR 7246.6 + 2 business days wait
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ne0
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Posted on 05-15-09 11:59
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In my opinion, the best way to send money is by using Paypal. This is how you send money: 1. Register a Paypal account - you will have to connect it to your bank account. When you do that, you can transfer money from your Bank ACcount to Paypal and vice versa. 2. Get a Debit card under your family Members name in Nepal. Hand them the card either personally or thru someone going to Nepal. 3. Then your family member can withdraw cash from few ATM machines in Nepal. The best part is the transaction cost which is only one dollar. 4. By default, they are only allowed to take out $400 per day. I think you can increase that limit.
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late night show
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Posted on 05-15-09 12:10
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thisisbinod- how to purchase check card and what are the procudures for that? neo- how to register a paypal account? Does that ATM/check card/Debit card work in all Banks in Nepal ?
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thisisbinod
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Posted on 05-15-09 12:27
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I would go ne0's route. I didn't know Paypal offers Debit card. That's make Paypal the best option to send money. late night show: just goto paypal.com and open your account. Once you open your account you have to verify it using your any bank account.
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NepalPyaaroChha.
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Posted on 05-15-09 2:32
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I think even without taking a charge for money transfer, they can make enough money due to the differences in the exchange rate,right? Otherwise why did they serve free in the past???Point to be noted,my lord.
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ibsh
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Posted on 05-15-09 4:27
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I had posted a thread in regards to this a couple of days back. It's relating money transfer. We have started a new business especially for Nepalese ppl in the US to send money back home. I am not saying it is free but the transaction fee is way cheaper than moneygram or western union. In addition to that the exchange rate we give is also better than those of others and you will get the money in about 10-15 mins. We started our business on May 1st of 2009. We currently do not have a physical location but we will soon in Boston. However, we have already established money transfer in Malaysia, Qatar, UAE, South Korea, Bangladesh and Sri Lanka. The money transfer is registered in the name of Manakamana Money Express. In the US we have started the business in regards to personal reference. So if you guys need to send money to contact me via email ...
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ibsh
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Posted on 05-15-09 4:27
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I had posted a thread in regards to this a couple of days back. It's relating money transfer. We have started a new business especially for Nepalese ppl in the US to send money back home. I am not saying it is free but the transaction fee is way cheaper than moneygram or western union. In addition to that the exchange rate we give is also better than those of others and you will get the money in about 10-15 mins. We started our business on May 1st of 2009. We currently do not have a physical location but we will soon in Boston. However, we have already established money transfer in Malaysia, Qatar, UAE, South Korea, Bangladesh and Sri Lanka. The money transfer is registered in the name of Manakamana Money Express. In the US we have started the business in regards to personal reference. So if you guys need to send money to contact me via email ...
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yorajan
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Posted on 05-15-09 5:56
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@Neo "2. Get a Debit card under your family Members name in Nepal."
You meant to say to get the debit card from the bank here in US or getting a debit card from Paypal ? Can you clarify on this issue. ?
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