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Exploring Fee-Free Money Transfers from the UK to Nepal - Everything to Know

19 Dec 2023


A report by Integral Human Development said that in 2020, about 2.6 million Nepalese lived in foreign countries. They accounted for about 9% of the country’s total population. A significant number of these migrants, which according to some estimates is about 200,000, live in the UK. They earn a living there and, to support their families financially, send money to Nepal online from UK.

If you are a Nepali working in the UK, you are pretty conscious about earning more and spending less. Right? And when it comes to transferring funds, the process incurs costs. These costs, at times, force you to search long and hard to find cost-effective ways of transferring funds – a conundrum solved by ACE Money Transfer!

You can enjoy as many fee-free transfers from the UK to Nepal through ACE Money Transfer until the end of 2023 as you possibly can until then!

Nepali Expats' Contribution To the Economy

Nepali migrants are making significant financial contributions to the Nepali economy. According to a World Bank report, Nepali migrants sent $9.29 billion in inward remittances back to Nepal in 2022.

You wonder why such a big diaspora is making such disproportionately low financial contributions. Well, it is because about 60% of the Nepali diaspora is employed in low-skilled jobs abroad.

Have you ever wondered why you feel so concerned about the fees that you have to pay on your money transfers despite it being a regular practice?

Continue reading if you haven’t yet!

An Insight into Fee-Free Transfers from the UK to Nepal

One of the key components of your every money transfer from UK to Nepal is the fee that you have to pay. The payment of the fee can sway your online money transfer in different directions.

It is important for you, therefore, to understand how fees can impact your transactions. Fees or service charges have many shades of understanding, which can land you in financial trouble.

It is in this context that ACE Money Transfer has designed this grand offer for the Nepalese working in the UK. With the firm, you not only get fee-free transfers, but you will also get several other critically important benefits.

But before looking at those amazing benefits, let’s understand fees and the associated details.

Understanding Fees or Service Charges on Money Transfers and Types of Fees

Service charges are the charges that you pay to the service provider for getting their services. In simple financial matters, fees or service charges are simple. But they become complicated in online money transfers.

Following are the types of fees that you have to know about when transferring funds.

The Double Fees

When you send money from abroad, your funds pass through two phases: the sending phase and the receiving phase. Right? While you pay your service provider for sending funds, the recipient may also have to pay fees while collecting funds. This is called the double fee.

Intermediary Fees

If you choose a service provider that routes your funds through different mediums or other financial institutions, these intermediary institutions will also charge you fees. This is called the intermediary fees.

Hidden Charges

These are charges that most of the unscrupulous elements in the industry apply to the transactions. You are not told about these charges in advance, and you are only informed about these when your transaction can no longer be aborted, making payment compulsory.

Additional Charges

Additional charges are caused by certain acts like cancellation of the transaction at a point or asking your service provider to deliver funds faster than normal. A fast delivery is called express delivery, which most of the companies charge you extra for.

These charges can throw your financials into disequilibrium, which you cannot afford, given that you struggle to earn a living in the UK.

Know here about the ways to make a living in the UK as an expatriate.

Navigating Fee-Free Money Transfers to Nepal from the UK with ACE Money Transfer

Your every struggle in the UK as a Nepali migrant is meant to earn a living and send money online to Nepal from UK to offer financial support back home. Right? In the process, the least you wish for is to somehow pay less fees or get it waived in the first place.

While you enjoy fee-free transfers with ACE Money Transfer to Nepal until the end of 2023, some other critically important you get are explained below.

Live and Market-Competitive Currency Exchange Rates

What better deal on your online money transfers than the one that offers you market-competitive rates? Not only do you get fee-free transfers, but you also get the latest updates on the rates from ACE Money Transfer to add more to the money you are sending back.

Simpler and Quicker Process

While you use ACE Money Transfer’s smartphone app, you only have to add the amount that you send back. The recipient’s details are taken care of by the firm, not you!

Speed and Efficiency

The firm delivers your funds in a matter of a few hours. This time is less than the shortest time others give you, which is normally within one day. Within one day can imply some hours as well as a full 24 hours.

Different Payment Methods

The firm offers you different payment modes to choose from to cater to your specific needs. But if you do not find a particular method, you can request the firm to add a new payment method.

Savings on Your Money Transfers

A waived fee, coupled with market-competitive exchange rates, serves two purposes: one, it makes ACE the cheapest way to send money to Nepal from UK, which you search long and hard for while finding a service provider, and two, it adds to the amount being sent back, ensuring savings.

Learning to Use the App

The firm walks you through the different features of its app through tutorials created in easy language and simple ways, offering easy and quick learning and giving you complete know-how of the app.

Sight-Friendly Dark Mode

The firm, on realising that people spend time on screens more than required, has added a dark mode to its apps that does not burden your eye-sight much.

Multi-Currency Option

The firm also offers you the option of multiple currencies to choose from for your money transfers to Nepal from the UK. This saves you from making payments for currency conversions at various stages of the transactions.

Wrapping Up the Discussion

You work in the UK as a Nepali migrant because of financial troubles resulting from unemployment and poverty in your native country. Right? So, when you earn a living and send money to Nepal from UK, you wish to send as much money as possible. This wish is fulfilled optimally should you choose ACE Money Transfer for the purpose and get all the benefits listed above, along with unlimited fee-free transfers until the end of 2023!

FAQs

Why do Nepalese work in the UK?

Nepalese work in the UK because a) they cannot find jobs in their native country, b) they suffer from unemployment and poverty, and c) finding jobs in the UK is easy due to the country’s robust economy and expansive job market.

How can I enjoy fee-free money transfers to Nepal from the UK?

You can enjoy unlimited fee-free online money transfers from the UK to Nepal until the end of 2023 if you a) reside in the UK, b) send money to Nepal, and c) choose ACE Money Transfer for transferring funds.

Why is understanding fees important for me?

Knowing about fees and their different types is critically important for you because if you do not know about this, you can be easily fleeced and also end up paying your service provider more than required. 

Why is the purpose of fee-free transfers?

The core purpose of fee-free transfers is to benefit the remitters by adding more money to send back to their families for financial support. A waived fee is automatically added to the amount you send back in every money transfer.

How does ACE Money Transfer benefit my money transfers back to Nepal?

ACE Money Transfer benefits your money transfers in more ways than one. You get speed, competitive rates, sight-friendly dark more, different payment methods, the addition of new countries, fee-free transfers, multiple currencies to choose from, safety, and so on.

Resources

  • Nepali diaspora

(Nepal - Migrants & Refugees Section (migrants-refugees.va)

  • Inward remittances

(Personal remittances, received (current US$) - Nepal | Data (worldbank.org)


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