How To Receive Remittance Digitally from Abroad Using Esewa Money Transfer

Remittances are an important aspect of Nepal's economy, contributing a significant portion to the country’s GDP. As per the 2021 census report, 7% of the total population resides outside the country. Among them, most of the workers have migrated to Malaysia, the six countries of the Gulf, and India. As the number of people migrating outside the country is growing outrageously, the inflow of remittance has also increased significantly. As per the central bank of Nepal, Nepal Rastra Bank, the inflow of remittance stood at Rs. 1.007 trillion in 2022. The remittance alone has contributed 20.8% of the country’s GDP in the fiscal year.

Esewa Money Transfer: Leading Remittance Company in Nepal

Esewa Money Transfer, a leading remittance company in Nepal has been affiliated with Nepal's largest fintech company, F1Soft Group since 2004. With over a decade of trust from more than 20 million users for financial transactions, Esewa Money Transfer has been making remittance services more feasible in the country. Esewa Money Transfer is a digital platform that allows users to send and receive money from anywhere in the world. Moreover, it offers a fast, competitive exchange rate, and cost-effective solution for remittance. The transactions are processed within minutes and the receiver can get their money instantly.

To streamline the remittance process, Esewa Money Transfer has partnered with international money transfer companies. The partnership with the giant remittance companies has made it easier for Nepalese migrant workers to send their money home easily.

Esewa Money Transfer Provides Three Options to Receive Remittance

The major objective of Esewa Money Transfer is to provide a fast and reliable way to send money to Nepal by reducing the cost of moving money. The remittance company offers three modes of transactions for sending money. The sender can send money directly to the beneficiary bank account, eSewa wallet, and cash pickup. We make receiving remittances effortless with a network of 100,000+ payout agents across Nepal. Thus, while choosing a cash pickup as a receiving option, the receiver can easily visit the nearest payout agents to collect the money.

Apart from this, the sender can also use the digital remittance option such as sending money directly to the bank account or beneficiary’s eSewa wallet in Nepal. While using the digital form of remittance, the receiver can receive the fund instantly in real-time. As of now, 90% of transactions are conducted digitally through Esewa Money Transfer.?

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How To Receive Remittance Using eSewa Wallet

With the advancement in technology, receiving remittances has become more accessible and convenient. The migrant workers can easily send their money directly to an eSewa wallet in Nepal. eSewa is Nepal's first online payment gateway that allows users to make online transactions, pay bills, and receive money. It has made receiving remittances from abroad more accessible, convenient, and faster. Receiving remittances through eSewa is a simple and hassle-free process. Follow these steps to receive remittance digitally from abroad using eSewa:

Step 1: Register for an eSewa account

The first step to receiving remittance through eSewa is to register for an eSewa account. To register, you will need to provide your name, mobile number, and email address, and create a password. You will also need to verify your mobile number through a One Time Password (OTP) sent to your phone.

Step 2: Provide your KYC details

To comply with the regulations of the Nepal Rastra Bank, eSewa requires users to complete their Know Your Customer (KYC) details. You can complete your KYC details by visiting an eSewa KYC center and providing your identity proof, such as your citizenship certificate or passport.

Step 3: Receive remittance

Once you have completed the above steps, you are now ready to receive remittance in your eSewa wallet. The sender can then initiate the remittance transfer using their preferred remittance service provider, and the remittance amount will then be transferred to your eSewa account.