27 Dec, 2022

How to open remittance savings account in Nepal

 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. Why do you need a Remittance Savings Account?You can directly deposit your hard-earned money in this account. With this account, you will be formally sending your money to your family member living here in Nepal. Now, you might be wondering how to open a remittance savings account, and what the procedures and the required documents are.You may open the account in the following ways,How can you open a Remittance Savings

Account?There are two ways you can open the account, they are:If you are working abroad,To open the account from the country that you are living in currently, you’ll need the following documents:Personal Identification documents (eg. Citizenship/ Passport)Recent Passport size photo of the account holderCopy of VISA along with passport and work permit.From Nepal, where a remittance savings account can be opened in the name of one of your family Members.If you have your family member somewhere abroad and you want to open a remittance savings account, you will need the following documents:Citizenship/PassportRecent Passport size photo of the account holderRemittance received slip or any documents validating foreign employment.Steps to open remittance savings account onlineYou may compare the interest rates offered on remittance savings accounts by all commercial and national-level development banks by clicking here.Then, to open the account online, simply follow these steps.Step 1: Click Here for the list of remittance savings accounts provided by different banks in Nepal.Step 2: Select the bank of your choice.Step 3: Click on apply now.Step 4: collect the required documents as a scanned copy, and fill the respective fields.Step 5: Enter OTP (You will receive OTP in Mail).Step 6: Upload the required documents.Step 8: Review your form.Step 9: Submit** This Process may vary from bank to bank. To learn more about the deposit account of your choice, click here.The account holder's information will be successfully generated after the banks have validated the required documents.Nepalese employed overseas could only conduct bank transactions—sending and receiving money—up to this point. Now, the Security Board Of Nepal (SEBON) has announced a 10% quota for all IPOs issued, Nepalese employees can also actively participate in the Nepali Stock Market. Need to know more?Banking and learning about banking products might be challenging, especially if you're employed overseas and you don't have the option to visit banks directly. Additionally, comparing loan and deposit products from different banks can be difficult and time-consuming. We are here to lend a hand! The Saral family is committed to ‘saralify’ your banking experience. If you require assistance from us, throughout your banking processes, we’re always here for you.Contact us: Whatsapp/Viber: 9851361107Liked this blog? Your friends and family members working abroad might like it too!Share this blog with your family member working abroad or your friend who needs to open a Remittance Savings account.Connect with our social media pages for Banking updates FacebookInstagram