Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Sending money from INDIA to NEPAL

Data collected on: Mar 22, 2021
INR | USD
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
Exchange rate margin (%)sort descending
The exchange rate margin is the cost resulting from the fact that the firm applies a rate that is different from the market reference rate. The margin is the percentage difference between the market reference rate and the exchange rate actually applied to the transaction.
Total cost (%)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Total cost (INR)Total cost (USD)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Bank of Baroda
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
590.008.87
0.51
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
0.51
4.954.95
658.359.90
Bank of India
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
236.003.55
0.51
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
0.51
2.292.29
304.574.58
State Bank of India
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
815.0012.26
1.05
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
1.05
7.187.18
954.9414.36
ICICI Bank Money2World
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
885.0013.31
2.14
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
2.14
8.798.79
1,169.0717.58
Skrill
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
3.36
Percentage difference between market reference rate 1.61 and exchange rate charged 1.55
3.36
3.363.36
446.886.72
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; Indo Nepal Remittance Scheme
Punjab & Sind Bank
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Agent
High
75.001.13
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.560.56
74.481.12
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; Indo Nepal Remittance Scheme
Punjab National Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
59.000.89
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.440.44
58.520.88
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
SBI-Nepal Express Remit
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Medium
23.600.35
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.180.18
23.940.36
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
SBI-Nepal Express Remit
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Agent
High
112.101.69
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.840.84
111.721.68
Total Average First Quarter
5.315.31
Total Average Fourth Quarter 2020
5.095.09
Total Average
Fee
505.207.60
Exchange Rate Margin (%)
1.511.51
Total Cost Percent (%)
5.315.31
Total Cost (INR) Total Cost (USD)
706.7610.63
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Next day 2 days 3-5 days
Bank account Cash Mobile wallet Own/partner bank account
Payment instrument
Access point
Sending network coverage
Receiving method
Bank of India
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
236.003.54
0.51
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
0.51
1.221.22
406.266.10
Skrill
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
3.36
Percentage difference between market reference rate 1.61 and exchange rate charged 1.55
3.36
3.363.36
1,118.8816.80
Bank of Baroda
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
885.0013.29
0.51
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
0.51
3.173.17
1,055.6115.85
State Bank of India
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
815.0012.24
1.05
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
1.05
3.503.50
1,165.5017.50
ICICI Bank Money2World
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Medium
885.0013.29
2.14
Percentage difference between market reference rate 0.01 and exchange rate charged 0.01
2.14
4.794.79
1,595.0723.95
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
SBI-Nepal Express Remit
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Medium
23.600.35
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.070.07
23.310.35
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; Indo Nepal Remittance Scheme
Punjab National Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
118.001.77
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.350.35
116.551.75
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending. &middot; Indo Nepal Remittance Scheme
Punjab & Sind Bank
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Agent
High
75.001.13
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.230.23
76.591.15
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
SBI-Nepal Express Remit
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Agent
High
112.101.68
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.340.34
113.221.70
Total Average First Quarter
3.213.21
Total Average Fourth Quarter 2020
2.932.93
Total Average
Fee
564.208.47
Exchange Rate Margin (%)
1.511.51
Total Cost Percent (%)
3.213.21
Total Cost (INR) Total Cost (USD)
1,068.2616.04
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Next day 2 days 3-5 days
Bank account Cash Mobile wallet Own/partner bank account