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Money transfer is usually the cashless mode of money transfer from one place to another in a short duration of time in an easy way. Money transfer helps to send the money from one individual or business to another within a minute even it is in the different countries.
In underdeveloped countries like Nepal, the remittance system is also considered a financial inclusion tool, as it allows people in remote areas to do monetary transactions with the help of other financial institutions and the money transfer companies are providing the services to the individuals so that their family receives the money sent from abroad in time. Money transfer not only eases for the remittance from abroad but also help to transfer money domestically for business or expanses.
Typically, money transfer services do not include banks, and funds are not sent to a bank or deposited into an account. The sender or remitter must provide the name, address, recipient name, and specific payment destination. The agent usually provides the sender with a secret code that the sender must send separately to the recipient. The recipient then goes to his agent's office at the specified payment site and provides the number and id mentioned such as citizenship, license, passport or ID card for a refund.
Here is the list of money transfer companies certified by the Government of Nepal that are accepting and sending remittances to various countries and within the country. Please refer to their website for their service fees.
You can also help others by sharing this post and adding up the money transfer company that is missing in this list.
