Western Union is an international cross-border money transfer company that operates 200 counties around the world with more than 500,000 agents. The Western Union established its branch in Kathmandu under the name of Western Union Nepal 25yrs ago, at that time, there were no local remittance companies on the market.
Still, the Moneygram and the western union are the main remit companies for the NRN (Non-Residents Nepali) especially from Europ, USA, and Canada, etc. The international market has been dominated by the western union and other largest money transfer companies because Nepalese remittance companies do not have many branches in those countries, nor do they have large partnerships networks.
Now let me tell you how the Western Union operates in Nepal, even though it has only one office in Kathmandu.
Since I have been doing the remittance business for the last 10 years, I have also been a Western Union agent for the past 9 years.
Payment methods of the Western union Nepal
- Cash pick up services
- Bank account deposit
- eSewa wallet
Cash pick up services: Western Union has a vast network of agents in Nepal with over 36,000 payout locations including remittance agents, banks, and their branches.
The cash pick-up services are the most used money received method of Nepal, where the recipient goes to the agent offices providing the MTCN (Money Transfer Control Number) and being paid out by cash.
Bank account deposit: All of the commercial banks of Nepal have partnered with the western union, the result for that it is easy to send money into the recipient bank account. If you want to send money into a bank account choose the payment method of the bank and provides the account detail while sending the money.
eSewa Wallet: eSewa is a leading online payment gateway of Nepal like PayPal in the USA. The receiver can transfer the fund to the eSewa wallet directly from the western union. You need to provide your MTCN number and other personal details on the process of fund clearing into the eSewa wallet.
Please be remember that there is a limitation if the fund is more than $500 that can not receive into the eSewa wallet.
What is today’s western union exchange rate for Nepal?
The exchange rate always fluctuates on the market condition, therefore, it is important for you to obtain the latest exchange rate of western union.
Although the high competition existed in the market still the western union offers little bit lower exchange rates than other remittance companies.
Click on this link and use the estimated calculator if you want to know the most recent exchange rate for Western Union in Nepal.
Western union Kathmandu | payment locations
Inside the Kathmandu valley, there are more than 10,0000 actives agents and more than 100 western Union authorized dealers, your recipient can withdraw money from any place. When you go out to the Kathmandu city you may find several places the western union agent board.
It should be clear that the agent who pays for the IME or Prabhu, he or she also pays the Western Union because they carry out the remittance business by taking the agent’s license from many remittance companies in Nepal.
Outside Kathmandu valley western union | payment locations;
If you are worried that your fund will no be paid outside of the Kathmandu valley put out of your mind because the remit business in Nepal is similar a remit agent gets the dozens of remittance licenses and provides services.
Working with only one remittance company, agents can not survive, so providing services to many remittance companies is a good thing. Literally the western union commission to the agent is higher than other remittances likewise IME, Prabhu and Samsara, etc. so, the person who has the remit business obviously takes the agent license of WU.
Keep in mind that agents not only work with IME or Prabhu but also with Western Union and many others. Unless the Agency is the help desk of the particular remittance companies, other private agents usually pay the money that has been sent through the agency WU.
Can You send money from Nepal to other countries through WU?
Yes, but not work for everybody, the central bank of Nepal has controlled the outbound remittance. People can send money into Nepal easily, but, sending from Nepal has to prove the purpose of the money and it takes time for proving a valid reason. learn more about how to send money from Nepal to visit this post.
Conclusion: Western Union Nepal is the most reliable, fast, and error-free remittance company in Nepal. People around the world can send money and it pays instantly there is nothing to wait.
The Western Union in Nepal has not associated with any local remittance companies but has its own sufficient active agents ready to pay cash through WU to any part of Nepal.