Sending the British pounds to Nepali rupees

In today’s interconnected world, many people living and working abroad rely on remittance services to send funds back home. For those in the UK, finding an efficient way to transfer GBP to NPR is essential, especially given Nepal’s heavy reliance on remittances. In 2023, remittances to Nepal accounted for a substantial portion of the country’s GDP. Whether you're looking for the best way to send money to Nepal or simply seeking to maximise the value of each transfer, understanding the options and costs is crucial.

In this article, we'll cover how Profee offers an efficient and secure solution for sending pounds to Nepali rupees, highlighting its real-time exchange rate monitoring system and exclusive promo rates. We'll also share key tips and insights to help you make the most of your money transfer to Nepal from the UK.

The economic impact of remittances on Nepal

Nepal is a country with a large workforce abroad, and remittances are a major part of its economy. The funds sent back by Nepalis working in countries like the UK have a significant impact, representing nearly 27% of the country’s GDP in 2023. The importance of remittances cannot be overstated, and for those looking to send money to Nepal from the UK, choosing the right service can ensure that more of your funds reach your loved ones.

It’s also important to note that while Nepal does send out some remittances, the country is predominantly a recipient. In 2021, Nepal received about five times more in remittances than it sent out. This highlights the critical role of international transfers and the need for affordable and reliable services, such as online money transfer to Nepal.

Trade between the UK and Nepal

The economic relationship between the UK and Nepal has seen remarkable growth in recent years. Total trade in goods and services between the two countries reached £287 million in the four quarters leading to the end of Q1 2024, representing a 22.6% increase from the previous year. With this increased trade and the flow of remittances, it's clear that both countries benefit from strong economic ties.

Given the importance of both trade and remittances, finding the best app to send money to Nepal can help ensure that these relationships continue to thrive.

Common challenges in sending money to Nepal

Sending money from GBP to NPR can come with several challenges. The most common issues include high transfer fees, unfavourable exchange rates, and delays in delivery. When sending pounds to Nepali rupees, these challenges can sometimes result in a reduced amount being received due to the exchange rate margin and hidden costs. For UK to Nepal transfers, the average exchange rate margin in Q1 2023 was 1.62%, meaning the rate you receive can significantly differ from the market rate.

Fortunately, Profee offers a solution by ensuring full transparency with real-time exchange rate monitoring, enabling its clients to see the exact conversion rate before making a transfer. This ensures that you always get the best rate to send money to Nepal, minimising losses from exchange rate fluctuations.

How to send money to Nepal from the UK with Profee

Profee simplifies the process of transferring GBP to NPR, offering a customer-friendly interface and affordable fees. Here's a step-by-step guide on how to send money to Nepal using Profee:

• Register: Sign up with Profee by providing your mobile number and email address. Registration is quick, allowing you to start sending funds within minutes.
• Enter the transfer amount: Choose how much you want to send in British pounds, or specify the exact amount in Nepali rupees that your recipient will receive. Profee’s interface is designed for ease of use, with clear, upfront details about fees and rates, so you know exactly how much will be sent and received.
• Provide recipient details: Enter your recipient’s bank account details, including bank accounts number, SWIFT/BIC code and the recipient’s full name.
• Add your payment details: Enter your card number and other details. If you save your card, you don't need to enter your details next time.
• Confirm the transfer: Review the transfer details and confirm. Profee’s system is fully secure, protecting your personal information and funds.
• Receive confirmation: You will be notified once the transfer is complete, giving you peace of mind that your money has arrived safely.

This process is designed to be fast and easy, offering one of the best ways to send money to Nepal for those living in the UK.

Real-time exchange rate monitoring with Profee

One of the biggest concerns when transferring money internationally is getting the best exchange rate. Profee stands out from other services by offering a unique real-time exchange rate monitoring system. This feature ensures that users can access the most competitive pounds to Nepali rupees rates at any time, allowing them to send money when the rate is most favourable.

Currency exchange rates fluctuate throughout the day, and even small changes can make a significant difference in how much your recipient will receive. Thanks to Profee’s monitoring system, you can avoid transferring money during periods when the exchange rate is less favourable, ensuring that you always get the best rate to send money to Nepal.

Promo rate for even more savings

On top of offering competitive real-time exchange rates, Profee also provides an exclusive promo rate for those remitting to Nepal for the first time. These special rates can reduce the cost of transfers even further, making it one of the most affordable options for online money transfer to Nepal.

For transfers to Nepal, Profee has the most favourable conditions — 0% commission and a promo rate on the first transfer. This ensures that Profee remains a top choice for those seeking the best way to send money to Nepal.

Why Profee is the best option for sending pounds to Nepal

When comparing options for sending money to Nepal, Profee consistently stands out as one of the top services due to its low fees, fast processing times, and superior customer experience. Here are a few key reasons why Profee may be called the best app to send money to Nepal:

• Low fees: Traditional money transfer services often charge high fees, reducing the amount your recipient receives. Profee’s low, transparent fees ensure you get more value for your money.
• Fast transfers: Profee processes transfers quickly, often within minutes, meaning your recipient won’t have to wait days to receive their funds.
• Transparent exchange rates: Profee’s real-time exchange rate monitoring allows users to transfer money at the best possible rates, reducing losses from unfavourable rate margins.
• Secure transactions: Profee prioritises security, using advanced encryption to protect both your personal information and your money throughout the transfer process.
• Promo rates: The availability of special promo rates offers additional savings, especially for larger transfers.

Key statistics to keep in mind

Several important statistics shed light on the significance of the UK-Nepal remittance corridor:

• Exchange rate margin: For UK to Nepal transfers, the the average exchange rate margin in Q1 2023 was 1.62%, making it essential to find a service like Profee that offers real-time exchange rate monitoring to minimise losses.
• Remittance flows: While exact figures for UK to Nepal transfers are not available, in 2021, Nepal received about five times more in remittances than it sent out.

Final thoughts: a smarter way to transfer money

For those looking to send money to Nepal from the UK, Profee offers the perfect combination of speed, affordability, and security. With real-time exchange rate monitoring, low fees, and special promo rates, Profee ensures that your pounds to Nepali rupees transfers are as cost-effective as possible.

Whether you're sending a one-time payment or regularly transferring funds, Profee is the smart choice for your money transfer to Nepal.