How NRNs Can Open & Operate a Bank Account in Nepal from Abroad

Introduction

Many Nepali citizens live outside Nepal for various reasons, such as work, study, or travel. Managing finances efficiently while staying abroad can be challenging, especially when it comes to sending and receiving money, saving funds, or making payments in Nepal. Fortunately, several banks in Nepal allow Nepali citizens to open a bank account remotely from abroad.

This guide provides a comprehensive step-by-step process for opening and operating a bank account in Nepal remotely. It includes detailed information on required documents, banking options, account types, and answers to frequently asked questions (FAQs).

Why Open a Bank Account in Nepal from Abroad?

Opening a bank account in Nepal while residing abroad offers several advantages:

Ease of Financial Transactions: Send and receive money seamlessly between Nepal and your host country.

Save and Manage Earnings: Deposit earnings in a secure Nepali bank account. Bill Payments & Investments: Pay bills, make investments, and manage business transactions in Nepal.

Access to Loan & Credit Benefits: Become eligible for financial services like loans, fixed deposits, and credit facilities in Nepal.

Government and Remittance Benefits: Utilize official banking channels for remittances and avail government incentives for Non-Resident Nepalis (NRNs).

Compliance with Foreign Exchange Regulations: Ensures compliance with Nepal Rastra Bank’s policies for international financial transactions.

Types of Bank Accounts Available for Nepalis Abroad

Nepali citizens living abroad can open different types of bank accounts based on their needs. These include:

List of Banks in Nepal Offering Remote Account Opening Services

Several banks in Nepal facilitate remote account opening for Nepalis abroad. Below are some of the leading banks providing this service:

1. Nabil Bank

• Offers NRN Savings and Fixed Deposit and Current accounts.
• Online application available.
• Video KYC verification process.

2. Nepal Investment Mega Bank

• Provides NRN and remittance-based savings accounts.
• Supports digital document submission.

3. Global IME Bank

• Offers savings, fixed deposit, current and remittance accounts.
• Online application through the bank’s website.

4. Himalayan Bank

• NRN and business current account facility with attractive interest rates.
• Digital onboarding services available.

5. Prabhu Bank

• Allows account opening via email or online application.
• Special remittance and NRN savings accounts.

6. Siddhartha Bank

• Provides NRN, savings and current accounts for Nepalis abroad.
• Digital document submission available.

7. NIC Asia Bank

• Facilitates online account opening for NRNs.
• Offers a range of savings and investment accounts.
• Video KYC verification process.

8. NMB Bank

• Offers NRN Savings Accounts with competitive interest rates.
• Online application and digital KYC process.

9. Nepal SBI Bank

• Provides NRN accounts with internet banking facilities.
• Supports online application for account opening.

10. Machhapuchchhre Bank

• Offers NRN Savings Accounts with attractive features.
• Online account opening services available.

11. Kumari Bank

• Dedicated NRN banking services with investment-friendly options.

12. Citizens Bank International

• Offers NRN Savings Accounts with various benefits.
• Supports remote account opening through online application.

13. Laxmi Sunrise Bank

• Provides NRN, remittance and current accounts.
• Online banking and digital verification.

14. Standard Chartered Bank Nepal

• NRN accounts, international remittance, and digital banking services.

15. Everest Bank

• NRN banking Solutions, foreign currency accounts, and remittance services.

Important Update:

Effective from January 14, 2025 (Magh 1, 2081 B.S.), Nepal Rastra Bank has mandated that all banks and financial institutions require a National Identity Card number for opening new accounts. This directive applies to all customers, including NRNs. Therefore, Nepali citizens living abroad should ensure they possess a valid National Identity Card when initiating the account opening process. Please note that the availability of remote account opening services and specific features may vary by bank and are subject to change. It is advisable to visit the official websites of these banks or contact their customer service for the most up-to-date information and detailed application procedures.

Step-by-Step Guide to Opening a Bank Account in Nepal from Abroad

Step 1: Choose a Bank and Account Type

Research the banks listed above and select the one that best suits your financial needs. Decide whether you need a savings, NRN, remittance, or fixed deposit account.

Step 2: Gather Required Documents

Most banks require the following documents:

Copy of Passport (with visa page if applicable)

National Identity Card number

Citizenship Certificate Copy (mandatory for Nepali citizens)

Recent Passport-Sized Photograph

Proof of Income or Employment (optional but recommended for account approval)

Proof of Address (Host Country) (utility bills, lease agreement, or bank statements)

Completed Account Opening Application Form

Signature Specimen Form (for authentication purposes)

Remittance Declaration Form (if applicable) (for compliance with foreign exchange regulations)

Business Registration Certificate (for Current Accounts) (if opening a current account for business purposes)

Step 3: Submit the Application Online or via Email

Visit the official website of your chosen bank and go to the NRN services section. Fill out the online application form with your details. Upload the required documents. Finally, submit the application online.

Many Nepali banks allow digital submission of account opening applications through their websites or email.

Step 4: Identity Verification Process

Depending on the bank, identity verification may be done via:

• Video KYC (Know Your Customer) Verification
• Third-party verification via embassy or remittance partner

Step 5: Account Activation and Fund Deposit

Once the bank verifies your application, they will provide account details. You may need to deposit an initial amount to activate your account.

Step 6: Accessing Online Banking Services

After activation, register for mobile banking or internet banking to manage your account from abroad. Some banks also offer international debit/credit card services.

How to Operate an Existing Nepali Bank Account from Abroad

If you already have a Nepali bank account, you can still manage and operate it from overseas through various digital banking services: 1. Mobile Banking & Internet Banking Register for mobile banking or internet banking if you haven’t already.

Access your account via the bank’s mobile app or website to check balances, transfer funds, and pay bills.

2. Money Transfers and Deposits You can receive money in your Nepali account from abroad through SWIFT, MoneyGram, Western Union, and other remittance services. Online banking allows you to transfer funds within Nepal to pay bills, loans, or investments.

3. Checking Transactions and Notifications If someone transfers money to your account while you are abroad, you will receive a mobile banking notification, SMS, or email alert (if activated).

You can log in to internet banking or mobile banking to check transaction details and balance updates.

4. ATM & Debit Card Usage

If your account has a debit card, you can activate international transactions through your bank.

Use international ATMs that support Nepali bank cards (with Visa, MasterCard, or UnionPay logos).

5. Customer Support & Account Assistance

Contact your bank’s international customer support if you face any issues.

Many banks provide 24/7 helplines and chat support for account holders abroad.

Conclusion

Opening and managing a Nepali bank account from abroad is now easier than ever with digital banking services.Whether you are working, studying, or traveling outside Nepal, having a Nepali bank account ensures seamless financial management. By following the steps mentioned above and choosing the right bank, you can secure your savings, send and receive money conveniently, and access various financial benefits while staying overseas.

If you are a Nepali citizen living abroad and need to open a bank account in Nepal, start by choosing a reliable bank from the list provided, gather the necessary documents, and apply online to enjoy hassle-free banking services!

Frequently Asked Questions (FAQs)

1. Who is NRN?

NRN stands for Non-Resident Nepali, a term defined by Nepal’s laws. It refers to two groups of people: those of Nepali origin who hold citizenship in countries outside of the South Asian Association for Regional Cooperation (SAARC) and Nepali nationals living outside SAARC member states.

2. Can I open a bank account in Nepal from any country?

Yes, as long as the bank supports remote account opening and you can provide the required documents.

3. Do I need to visit Nepal to open the account?

No, many banks offer online account opening services for Nepalis abroad. Some may require verification through the embassy or a remittance partner.

4. What is the minimum deposit required?

The minimum deposit varies by bank and account type. Most savings accounts require NPR 1,000 – NPR 5,000 as an initial deposit.

5. How long does the account opening process take?

The process usually takes 3-7 business days, depending on document verification.

6. Can I send money to my Nepali bank account from abroad?

Yes, you can transfer money via international remittance services such as SWIFT, MoneyGram, Western Union, or bank wire transfers.

7. Can I apply for a debit card and use it internationally?

Yes, most banks provide debit cards that can be used for international transactions. You may need to request international activation.

8. What happens if my account remains inactive for a long time?

If the account remains inactive for more than 6 months, it may be categorized as a dormant account. You can reactivate it by contacting the bank and making a transaction.

9. Are there any tax implications for NRNs holding a bank account in Nepal? NRNs are generally exempt from certain taxes on foreign currency accounts, but any income earned in Nepal (such as interest from deposits) may be subject to taxation.