Cheapest Way to Send Money from Korea to Nepal (2026 Guide)
Cheapest Way to Send Money from Korea to Nepal (2026 Guide)
Are you a Nepali worker or student in Korea who needs to send money home? You're not alone. Thousands of Nepalis living in Korea send money to their families every month.
Quick Answer: Digital apps like IME Remit and eSewa Money Transfer offer the best combination of low fees (₩3,000-7,000) and good exchange rates. Banks charge ₩20,000-30,000 with worse rates.
Why Choosing the Right Service Matters
When you send money from Korea to Nepal, small differences in fees and exchange rates can mean big savings.
Example: Sending 1,000,000 KRW
- 2% difference in exchange rate = 20,000 NPR lost
- That's money that could go to your family instead!
Compare Live Rates
Best Ways to Send Money from Korea to Nepal
Digital Remittance Apps (Best for Most People)
IME Remit
Direct transfers to IME Pay wallets and bank accounts
Fee
4,000-7,000 KRW
Speed
Same day to next day
eSewa Money Transfer
Instant transfers to eSewa wallets
Fee
3,000-6,000 KRW
Speed
Instant to eSewa
RupeeSend
First Korean government-authorized remittance company
Fee
4,000-8,000 KRW
Speed
Fast processing
Banks (Most Traditional but Expensive)
Not usually recommended unless you need specific bank services. Banks typically have:
- Higher fees (₩20,000-30,000)
- Less favorable exchange rates
- Slower processing (2-5 business days)
How to Send Money: Step-by-Step
Step 1: Choose Your Service
- Compare rates using RemitBuddy
- Check the total cost (fees + exchange rate)
Step 2: Download the App and Register
Prepare your documents:
- Alien Registration Card (ARC) or passport
- Korean phone number
- Korean bank account
Step 3: Enter Transfer Details
- Enter the amount in KRW
- See how much recipient will receive in NPR
- Choose delivery method:
- Mobile wallet (eSewa, IME Pay) - Fastest
- Bank deposit - Good for large amounts
- Cash pickup - Good if recipient doesn't have bank
Step 4: Enter Recipient Information
For mobile wallet:
- Recipient's name (exactly as registered)
- Mobile wallet number
- Phone number
For bank deposit:
- Full name, bank name, account number
For cash pickup:
- Full name, ID number, pickup location
Step 5: Pay and Track
- Link your Korean bank account or pay by card
- Get tracking number
- Receive notifications when money arrives
First transfer tip: Your first transfer may take 1-2 days for verification. After that, transfers are much faster.
How to Choose the Best Receiving Method
eSewa Wallet (Best for Digital Users)
IME Pay (Good for IME Users)
Bank Deposit (Best for Large Amounts)
Cash Pickup (Best for Non-Digital Users)
Tips to Save Money on Transfers
1. Compare Before Every Transfer
Exchange rates change daily. Use RemitBuddy to compare.
2. Understand the Total Cost
Don't just look at fees. The exchange rate matters more!
Example:
| Service | Fee | Exchange Rate | You Lose |
|---|---|---|---|
| Service A | ₩3,000 | Poor | ₩25,000 |
| Service B | ₩5,000 | Good | ₩8,000 |
Service B is cheaper even though the fee is higher!
3. Send Larger Amounts Less Often
- Pay fees fewer times
- Often get better rates for larger amounts
4. Use Mobile Wallet for Small Amounts
- eSewa or IME Pay are often cheapest
- Instant delivery
- Lower fees than bank transfers
5. Watch the Exchange Rate
When the rate is good, consider sending a bit more if you can afford it.
6. Use Promotions
Many services offer:
- First transfer free
- Referral bonuses
- Special rates during Dashain/Tihar
Common Fees Explained
Transfer Fee
| Service Type | Typical Fee |
|---|---|
| Digital apps | ₩3,000 - ₩10,000 |
| Banks | ₩20,000 - ₩30,000 |
| Western Union | ₩5,000 - ₩15,000 |
Exchange Rate Markup
This is the hidden cost. The difference between market rate and your rate.
Example:
- Market rate: 1 KRW = 0.078 NPR
- Service rate: 1 KRW = 0.076 NPR
- You lose: 2.6%
Good services: 0.5-2% markup Bad services: 3-7% markup
Transfer Times
| Receiving Method | Delivery Time |
|---|---|
| eSewa wallet | Instant to few minutes |
| IME Pay wallet | Few minutes to same-day |
| Bank deposit | Same day to 2 business days |
| Cash pickup | Same day to next day |
Factors that can delay:
- Weekends and holidays
- Incorrect recipient information
- Large amounts (may need verification)
Important Documents You Need
For Registration:
- Alien Registration Card (ARC) or passport
- Korean phone number
- Korean bank account
For Each Transfer:
- Recipient's full name (exact spelling!)
- Wallet number / bank account / ID for cash pickup
- Purpose of transfer
Important: Make sure the recipient's name is spelled exactly right. Wrong spelling can delay or block the transfer.
Special Situations
Sending for Emergencies
- Use eSewa or IME Pay for instant wallet transfers
- Or Western Union for emergency cash pickup
- Expect higher fees for fastest service
Large Transfers (Over ₩15,000,000)
- Consider currency brokers for better rates
- Prepare extra documentation
- Allow more time for verification
During Dashain and Tihar
- Transfer volume increases (slower service)
- Some services offer promotional rates
- Plan ahead and send early
Why Use RemitBuddy?
Finding the best service every time takes work. RemitBuddy does it for you:
- Compare multiple services in one place
- See total cost (fees + exchange rate) clearly
- Find the cheapest option for your amount
- Save time - no need to check each service separately
Compare remittance services and find the best rates at RemitBuddy