13 May 2025
Raising children is never easy, especially when you’re thousands of miles away. For many Nepali parents living and working in Austria, ensuring their children in Nepal receive a quality education is a top priority. But how can you support their higher studies from another country legally, smoothly, and consistently?
One of the first steps is to send money to Nepal from Austria in a way that’s not just fast and affordable but also aligned with the local financial rules in Nepal. Let’s explore how you can do just that through legal banking channels.
Sending money through unofficial or informal methods might seem easier at first. But for long-term educational expenses, using local banks is the most sustainable and legal option.
Local Nepali banks offer education-specific accounts and services that allow families to manage and allocate funds for tuition, hostels, books, and even pocket money in a traceable manner. This comes in handy not only for regular bank statements but also when applying for government scholarships, student visas, or hostel verification.
Banks in Nepal also offer remittance-linked savings accounts and student-specific schemes to ensure that incoming foreign funds are used responsibly. These options provide you with control and assurance that your hard-earned money is being used exactly for the purpose you sent it.
You need to understand both Austria’s remittance rules and Nepal Rastra Bank’s (NRB) guidelines on foreign funds used for education. According to Nepal Rastra Bank's remittance policy, students can receive money from parents living abroad for educational purposes through licensed remittance channels or commercial banks with proof of relationship and purpose.
The first thing you’ll need is a bank account in Nepal, ideally in your child’s name or in a joint account format. Your child must also be enrolled in a recognised educational institution in Nepal. With this, banks are more likely to process and accept the regular inflow of funds from abroad.
Additionally, you'll be asked to provide documents such as:
Once these are in place, you can begin regular bank-to-bank transfers from Austria to your child’s education account.
Yes, opening a joint account with your child in a Nepali bank is a smart move. It not only ensures transparency but also allows you to monitor fund usage. Some Nepali banks now offer parent-student joint accounts specifically designed for overseas sponsorship.
This setup allows you to deposit funds from Austria directly, and your child can use those funds with limited withdrawal restrictions. It’s also useful for maintaining a regular banking history—something useful for visa, internship, and scholarship applications in the future.
In most cases, remittances for educational purposes are non-taxable in Nepal as long as they are transferred through recognised channels. But it’s advisable to keep proper documentation like your income source, relationship proof, and your child’s student status.
Nepal Rastra Bank’s 2025 guidelines encourage formal remittance inflow and discourage untracked money flow due to AML (Anti-Money Laundering) concerns. So, ensure you follow legal banking practices. In Austria, sending funds abroad for education doesn't usually carry a tax burden, but consult a financial advisor for your specific case.
The most efficient and secure method is through an international money transfer service regulated by Austrian and Nepali authorities. These services are often cheaper than traditional bank transfers and more reliable than informal channels like hundi (which is illegal and punishable in both countries).
To make sure your transaction reaches a legitimate account in Nepal, always use a service that has direct banking partnerships with local Nepali banks. This ensures lower processing time, fewer middlemen, and better exchange rates. You can also opt for making a money transfer from Austria to Nepal using mobile-based platforms that are linked to banking APIs. These allow you to fund the education account directly without multiple steps or delays.
When choosing a money transfer service, look for the following:
With multiple options available, it’s important to make an informed choice. Some services may charge low fees but give you poor exchange rates. Others might take longer to process, causing stress when tuition deadlines are approaching.
ACE Money Transfer is designed to make your remittance experience smoother, faster, and completely reliable. It offers bank-level security, real-time tracking, and direct deposits into Nepali bank accounts—ideal for funding your child's higher education back home. With a proven track record and over 4.8+ ratings on Trustpilot, ACE Money Transfer stands out as a trusted partner for thousands of Nepali families.
There is no fixed upper limit on how much you can remit from Austria to Nepal for educational purposes, provided the amount matches your documented income. However, larger or frequent transfers might invite scrutiny unless supported with proper proof.
Banks usually accept regular monthly or quarterly payments better than one-time large transfers. Keep in mind that Nepalese banks may flag irregular or unexplained funds without academic or personal justification.
If you're looking to send money online to Nepal from Austria, platforms like ACE Money Transfer make it incredibly simple. Their mobile app or web portal allows you to initiate transfers, view real-time currency rates, and even track payment delivery—all within minutes. It reduces your need to visit any local remittance office and offers 24/7 customer support in case you face any transaction delays or need guidance.
Always keep the following documents handy:
This documentation serves as proof of legal remittance and is necessary if your child applies for scholarships, education loans, or exchanges in the future.
Consistency helps avoid tuition delays, ensures uninterrupted education, and builds a strong banking history for your child. Many universities in Nepal require semester-wise fee payments, so planning a monthly or quarterly transfer schedule is advisable. Also, regular inflows help your child manage money better and prepare for future budgeting responsibilities.
Sending money back home doesn’t need to be stressful if you plan ahead and follow the right channels. Use a trusted service, stick to a schedule, and always document your transfers. Make sure your child’s bank account in Nepal is eligible to receive educational remittances.
If you’re considering online money transfer from Austria to Nepal, trust ACE Money Transfer for secure, fast, and affordable solutions tailored to your needs as a Nepali parent.
Using licensed money transfer services like ACE Money Transfer is the safest way to support educational expenses legally through direct bank deposits.
Yes, if your child has a Nepali bank account, you can transfer money directly to that account using formal remittance services.
Yes, banks in Nepal support educational remittances, especially if the account is under the student’s name or linked to a joint account with the parent.
Generally, Nepali banks do not charge fees for receiving foreign remittances for education if done through formal channels.
ACE Money Transfer offers secure transactions, fast delivery, and excellent customer satisfaction with 4.8+ ratings on Trustpilot, making it ideal for education-related transfers.
