A remittance savings account is a special savings account for Nepalese individuals working abroad and their family members. This account provides the convenience of opening accounts, both from within Nepal and abroad.
Personal Identification documents (eg. Citizenship/ Passport)
Recent Passport size photo of the account holder
Copy of VISA along with passport and work permit
With a remittance savings account, you can receive foreign currency transfers from overseas. The received funds are converted to the local currency and deposited into your account. You can then manage and use these funds for various purposes.
Many banks offer online banking services for remittance savings accounts, allowing you to check your balance, track transactions, and manage your account from the convenience of your computer or mobile device.
Yes, many remittance savings accounts allow you to receive money in foreign currency. The received foreign currency can be converted into Nepali rupees at prevailing exchange rates.
Yes, most remittance savings accounts come with ATM cards that allow you to withdraw funds from ATMs in Nepal and sometimes even abroad, depending on the bank's network.
Yes, you can use your remittance savings account for various financial transactions, including making payments, transferring funds, and managing your day-to-day expenses.
Funds held in remittance savings accounts are often covered by the Nepal Deposit and Credit Guarantee Corporation's insurance, providing a level of security against bank failure.
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