Bank Transfer vs Online Transfer: Which Is Cheaper for UK to Nepal?

Sending money to your loved ones back home in Nepal from the UK is a priority for many expats and students. The process, however, can often feel complex due to the variety of transfer options available. With choices ranging from traditional bank transfers to online remittance services, the main question remains: Which is the cheaper option for sending money from the UK to Nepal?

In this blog, we’ll compare the two popular methods—bank transfers and online money transfers—to help you make an informed decision based on cost, convenience, and reliability. 

We’ll also highlight ACE Money Transfer’s zero-fee offer in collaboration with IME Wallet, where Nepali expats from the UK, Australia, and Portugal can enjoy zero-free on all transfers between June and August 2025.

How does a bank transfer work?

Bank transfers have long been a go-to method for international remittances. But are they the cheapest option?

A bank transfer involves sending money from your bank account in the UK to the recipient’s bank account in Nepal. This process usually requires you to provide the recipient’s bank account details. While it may seem straightforward, bank transfers come with a few drawbacks:

• Fees: Banks typically charge a high fee for international transfers for sending and receiving funds.
• Exchange Rates: Banks usually offer less competitive exchange rates, meaning the amount your recipient gets in Nepal could be significantly lower than what you intended to send.
• Processing Time: Bank transfers can take several days, meaning your loved ones may not receive the money quickly.

According to recent reports, bank transfers can cost as much as £30 per transaction, with additional fees for currency conversion. It can result in a significant reduction in the final amount your recipient will receive.

How does online transfer work?

On the other hand, online money transfer services like ACE Money Transfer offer a more convenient, efficient, and cost-effective solution. With services that allow you to send money directly from your bank account or debit/credit card to the recipient’s account or mobile wallet, online transfers are often cheaper and faster than traditional bank transfers.

Here’s why online transfers stand out:

• Lower Fees: Many online services offer lower transfer fees than banks. Some even offer zero-fee transfers during promotional periods, like ACE Money Transfer’s current ACExIME zero-fee offer for Nepali expats.
• Better Exchange Rates: Online services offer better exchange rates than banks, meaning your loved ones will receive more money in Nepal.
• Fast Transfers: Most online transfers are completed within minutes, especially using mobile wallets like IME Wallet or other local payout locations.

As part of ACE’s exclusive zero-fee campaign, Nepali expats sending money from the UK to Nepal can now enjoy zero transaction fees on all transfers from June to August 2025, regardless of whether the payout option is bank, cash, or wallet.

This offer allows you to send more of your hard-earned money to your family back home without worrying about additional charges.

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Bank Vs. Online Transfers: Cost Comparison

Now that we understand how both methods work, let’s compare them based on cost. Let’s assume you are sending £200 to Nepal.

Bank Transfer:

• Fees: £10-£30 (depending on the bank)

Online Transfer (ACE Money Transfer):

• Fees: Zero fees (with the ACExIME zero fee offer)

This example shows that online transfers are significantly cheaper, especially considering the promotional zero-fee offer from ACE Money Transfer.

For more details, check out our complete guide on sending money from the UK to Nepal.

Why choose online transfers?

Online transfers offer several advantages over traditional bank transfers. Here are the 

Key reasons why more and more expats are choosing online services:

1. Lower Costs: The primary reason online services are gaining popularity is because of their lower costs, as shown in the example above.
2. Better Exchange Rates: Online transfer services tend to offer more competitive exchange rates, which means your family back home gets more money.
3. Speed and Convenience: Online transfers are faster and more convenient, often completed in just a few minutes.
4. Promotions and Special Offers: Services like ACE Money Transfer often run promotions (like the zero-fee campaign) that make sending money even more affordable.

Making the Smart Choice

When comparing bank transfers to online transfers, online services come out on top in terms of cost and convenience. With the zero-fee offer from ACE Money Transfer in partnership with IME Wallet, sending money from UK to Nepal has never been more affordable.

So, online transfers are the way to go if you're looking to send money home without the high fees and with faster delivery. Plus, with ACE’s exclusive offer, you can save more money while supporting your family back home.

FAQs

What are the fees for sending money from the UK to Nepal?

 Online transfers like ACE Money Transfer offer zero fees during promotions, while bank transfers usually charge £10-£30 per transaction.

How fast can I send money to Nepal?

Bank transfers take several days, while online transfers are often completed within minutes.

Is ACE Money Transfer safe to use?

Yes, ACE Money Transfer is regulated and compliant with financial authorities like FCA, ensuring secure and trustworthy transactions.

Can I send money from my mobile phone?

Yes, ACE Money Transfer allows you to send money via ACE app. Download the ACE App (Andriod | IOS) Now!

How can I benefit from the ACExIME zero fee offer?

The offer is available for Nepali expats from the UK, Australia, and Portugal, providing zero fees on all transfers to Nepal from June to August 2025, regardless of whether the payout option is bank, cash, or wallet.