Moneygram is a global money transfer and payment services established in A.D. 1940, since then it has been ultimately leading to the money transfer industry in the world. Although there is not an independent office, how does the MoneyGram Nepal pays to the recipients? This article has focused on it.
I have been doing the remittance business since A.D. 2001 having the agent license almost all remittance agencies that are active in the market. Globalization is the main contributor to the non-stop growth of cross-border remittance services.
Nepal is the fourth-largest labour export country in SARC (South Asian Regional Countries) and billion of the dollar come into this country using global remittance services.
The steady growth on the inward remittance contributes to emerging many local remittance companies. There are 24 local remittance companies approved by the central bank of Nepal.
Nepali local remittance companies are not rich enough to open the overseas offices in every county from where people send the money. Only the IME, Prabhu, and Himal remit have overseas offices but very limited places.
In order to offer their services where they are not provided, many of the Nepalese remittance companies depend on partnering, the first option is Moneygram.
Not only the remit companies partnered with the international remit organization. Nepal commercial banks also have done so. You may already know That MoneyGram is the master of cross-border money send and payment services, in addition, supported more than 200 countries.
In Nepal, MoneyGram has become partnered with almost all remittance companies including IME and Samsara as well as the global Ime bank, Nic Asia bank, Citizen bank dozen of other commercial banks.
How to get paid via MoneyGram Kathmandu?
If your money has been sent through MoneyGram from any country in the world the beneficiary will get paid in Kathmandu valley or across the country through the following network.
- IME is one of Nepal’s biggest remittance companies. It is a partner with MoneyGram, therefore, More than 25,0000 IME counter including agents across the country can pay out the cash to beneficiary.
- Another local Remittance company Samsara well-known organization, also a partner of MoneyGram has 7500 agents and self counter throughout the country. They also payout the Moneygram fund in Nepal.
- MoneyGram is a partner with other Nepal’s “A“- class commercial and development banks, the beneficiary can collect money from the following banks;
- NIC Asia Bank Limited
- Investment Bank
- Nirdhan Utthan Laghubitta Bittiya Sanstha
- Nepal Bangladesh Bank Limited
- Agricultural Development Bank Ltd
- Mahalaxmi Bikas Bank Ltd
- Nepal SBI Bank Ltd
- Mega Bank Nepal Limited
- Om Development Bank
- Shangrila Development Bank Ltd
- Nepal Bangladesh Bank Limited
- Gandaki Bikas Bank Limited
- Machhapuchchhre Bank
- Sunrise Bank Limited
- Bank of Kathmandu Ltd
- Investment bank
- Prabhu Bank Ltd
- NMB bank limited
- Global IME Bank Limited
- prime commercial bank limited
- Siddhartha bank limited
- Civil bank
What is the MoneyGram Nepal exchange rate today?
According to the dollar value, the MoneyGram offers the middle exchange rate. If you want to check today Nepal exchange rate click here
Can I deposit money into the beneficiary bank account in Nepal through MoneyGram?
Yes, Moneygram Nepal offers both services cash pick-up and direct deposit into the receiver bank’s account. There is no problem with the account deposit, because, the above listed commercial banks are the partner of Moneygram.
How to receive MoneyGram money in Nepal?
If you want to withdraw money from Nepal, You just have to visit any partner pay-out counter, as I mentioned above. Provides the Transaction control number and verify your identity providing citizenship or driving license you will get paid.
How long does it take Moneygram to deliver money in Nepal?
Just like other remit companies, it offers immediate cash payment services. Just a few minutes later when the remitter fills in the sender and recipient’s detail, the fund is able to withdraw from any part of Nepal.
Conclusion: Although Moneygram Nepal is a great service provider, it is important for you to check the exchange rate and service charge, there may be other remittance company may offer a high rate and less service charge.