Work at HomeMoney Transfer to NepalBest Way to Get Your Freelancing Income in Nepal

Best Way to Get Your Freelancing Income in Nepal

Must Read
spot_img

We already know how to send freelancing revenue to Nepal because we are freelancers. There are a variety of to from. However, we must choose which option is better for .

LetR7;s look at Upwork earnings as an example. In this article, we’ll compare practically every payment method available on Upwork. So far, there are four alternatives available for everyone. Only Nepali freelancers should use Direct to Local Bank (NPR), to Upwork. For each withdrawal, they levy a little fee of $0.99. However, their currency exchange rate is HORRIBLE. They offer a rate that is 3-4 rupees lower Nepal’s daily foreign exchange rate. To evaluate which option is best, we’ll use simple math to transfer $1000 using the exchange rate of 20/12/2019 ( NPR 1 = USD 113.89).

Direct to Local Bank (BDT)

Let’s assume that the bank’s rate is NPR 2 less than the forex rate.

$0.99 per withdrawal to Nepal.

$1000 – $0.99 = $999.01 X 111.89 = NPR 111,779.23
Normally it takes one or two days to arrive at your bank account.
So the ultimate rate for $1 is NPR 111.78

$2 USD per withdrawal from Upwork.

Normal Delivery:

$1000 – $2 = $998 X 113.89 = NPR 113,662.22
Normally it takes three to four days to arrive at your bank account.

Fast Delivery:

$1000 – $2 = $998 – $2.5 (Payoneer Quick Load Fee) = $995.5 X 113.89 = NPR 113,377.50
Normally it takes two to three days to arrive at your bank account.

So the ultimate rate for $1 is NPR 113.66 with normal delivery and NPR 113.38 with faster delivery.

Wire Transfer (USD)
It is not suitable for Nepal. It charges $30 for each transaction and takes a long time with various difficulties.

Direct to U.S Bank (USD)
Free payments to U.S Bank account in USD.

It is also not suitable for Nepal. Most of the Nepali freelancers don’t have U.S Bank account.

Final Consideration
By Direct to Local Bank (BDT): $1 = NPR 111.78
Via Payoneer: $1 = NPR 113.66

Conclusion
Finally, we can take a fair decision to determine that Payoneer is the best way to send freelancing income to Nepal. And hopefully, we will find the same results in other marketplaces too.

You May Also Like:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

NEPSE rises by 29.24 points, reaching a new high

On Tuesday, the Exchange (NEPSE) index rose 29.24 points to an all-time high of 3079.67 points. Today, 32.35...

More Articles Like This