My family needs me to send money regularly and the bank wire fees are killing me. Currently using my bank which charges $25 per transfer plus terrible exchange rates. Has anyone compared these services for Nepal specifically? - Wise (TransferWise) - Remitly - IME Pay - Western Union - Direct bank transfer Looking for the best combination of low fees and good exchange rates. Sending from the US.
Wise is hands down the best for regular transfers. Exchange rate is almost mid-market and fees are $4-6. Money arrives in 1-2 business days to any Nepali bank. Been using it for 2 years, never had an issue.
IME Pay is good if your family prefers picking up cash rather than bank transfer. They have agents everywhere, even in small towns. For bank transfers though, Wise beats everything else.
Avoid sending on Fridays — exchange rates tend to be slightly worse before weekends. Monday or Tuesday usually gives the best rates. Also set up rate alerts on Wise, they notify you when the rate hits your target.