Nepal (NP)
Nepal is a landlocked Himalayan nation between India and China, home to eight of the world's ten highest peaks including Mount Everest (8,849m).
Banking in Nepal
Recommended banks, payment culture and credit score basics.
Banking in Nepal is possible for legally resident foreigners but KYC requirements are thorough. You will need your passport, valid visa (non-tourist), proof of local address, recent photos, and in many cases a PAN (Permanent Account Number) from the Inland Revenue Department for salary or business activity. Tourist-status bank accounts are very restricted and not suitable for salary receipt or regular transfers. Most expatriates are employed by NGOs, INGOs, development organisations, embassies, or corporate entities, all of which have established banking relationships. Open a bank account and a payment wallet (eSewa or Khalti) early — both are needed for rent, utility bills, and everyday transactions in Kathmandu and Pokhara.
Recommended banks
Nabil Bank
EnglishMonthly fee: No monthly fee; minimum average balance NPR 5,000–25,000 depending on account type; annual debit card fee NPR 575–800
Requirements: Passport, valid non-tourist visa, proof of Kathmandu/local address (employer letter or tenancy agreement), 2 passport photos, PAN if required by employer/IRD. Branch visit required. Process typically 1–3 business days.
- + One of Nepal's largest private commercial banks — branches across Kathmandu Valley and major cities
- + English-speaking staff at main Douglas and Lazimpat branches
- + Nabil mBanking app supports transfers, QR payments, and account management
- + Salary accounts popular with INGO and corporate employers
- + FonePay QR payments integrated
- - Branch visit required — no fully remote onboarding for first account
- - Minimum balance requirement; penalty charge if balance drops below threshold
- - SWIFT outward transfers require documentation and NRB approval for large amounts
Standard Chartered Nepal
EnglishMonthly fee: Priority Banking: no fee with qualifying balance (NPR 500,000+); regular account minimum balance varies; annual card fee applies
Requirements: Passport, valid visa, proof of address, employment letter, income evidence, and source-of-funds documentation for larger accounts. Some nationalities may require additional approval. Branch visit to New Baneshwor required.
- + Most recognisable international bank for expats and embassy staff in Nepal
- + Priority Banking with personal relationship manager for senior expats
- + International wire transfer (SWIFT) capabilities with established compliance process
- + English-only banking — staff are accustomed to foreign clients
- + Good for diplomatic mission and corporate payroll
- - Very limited branch network (primarily Kathmandu)
- - Higher balance expectations for better service tiers
- - SWIFT fees for outward transfers are significant (NPR 2,000–5,000 per transfer)
NIC Asia Bank
EnglishMonthly fee: No monthly fee; minimum average balance NPR 5,000–20,000; annual debit card fee NPR 575–800
Requirements: Passport, valid visa, proof of address, photos, PAN where applicable. Branch visit required. NIC Asia has strong digital onboarding for subsequent services after initial in-branch setup.
- + Strong digital banking — NIC Asia mBanking is one of the better Nepali banking apps
- + Wide ATM network across Kathmandu and regional cities
- + FonePay QR payments and ConnectIPS integrated
- + Popular with NGO and private-sector expat employees
- - English documentation can occasionally require follow-up at branch level
- - Outward remittance limits apply under Nepal Rastra Bank foreign exchange rules
Global IME Bank
EnglishMonthly fee: No monthly fee; minimum average balance NPR 5,000; annual debit card fee NPR 500–750
Requirements: Passport, valid visa, proof of address, photos, employer letter or PAN. Global IME has branches and ATMs across Nepal including smaller cities and towns outside Kathmandu.
- + One of Nepal's largest ATM networks — especially useful for expats living or working outside Kathmandu
- + ConnectIPS and FonePay QR payments integrated
- + Reasonable digital banking app
- + Good for expats in Pokhara, Chitwan, or project sites outside the capital
- - English support stronger in Kathmandu branches than regional offices
- - International transfer processes similar to other Nepali banks — documentation heavy
eSewa / Khalti (mobile wallets)
Monthly fee: Free accounts; transaction fees apply (typically 1–2% for cash out; free for wallet-to-wallet)
Requirements: Nepali mobile number and NID for citizens; foreigners may register with passport and local SIM but wallet limits are restricted until KYC is upgraded with local documents. Confirm current eligibility at the eSewa or Khalti office.
- + eSewa and Khalti are essential for daily life — QR payments at supermarkets, pharmacies, restaurants, fuel stations, and landlords
- + eSewa: pay electricity, water, internet, school fees, and airline tickets in-app
- + Khalti: strong merchant QR and FonePay network integration
- + Accepted widely in Kathmandu and Pokhara where card terminals are absent
- - Apps primarily in Nepali — English interface limited
- - Foreign registration rules subject to Nepal Rastra Bank mobile wallet regulations — confirm current status
- - Cannot replace a bank account for employer salary receipt
Payment culture
Cash (Nepali Rupee, NPR) is the primary payment method outside hotels, international supermarkets, and formal restaurants. QR code payments via FonePay (the interoperable national QR standard) are rapidly growing in Kathmandu and Pokhara — most vegetable vendors, pharmacies, and local shops now display QR codes accepting eSewa, Khalti, and bank wallet apps. Debit cards (Visa, Mastercard) are accepted at major supermarkets (Bhat-Bhateni, Saleways), upscale restaurants, and hotels. Credit cards are accepted mainly at hotels and international businesses. Keep small notes (NPR 50, 100, 500) for taxis, auto-rickshaws, local stalls, and trekking logistics. India-issued NPR notes above NPR 100 are not legal tender in Nepal — do not accept them.
Cash access
ATMs (Nepali: ATM machine or "cash machine") are widely available in Kathmandu and Pokhara, including at Bhat-Bhateni, Saleways, and bank branches. Global IME and NIC Asia have the widest ATM networks across regional cities. International Visa and Mastercard withdrawals are accepted at most ATMs with a foreign-card fee of approximately NPR 200–400 per withdrawal plus your home bank charge. ATMs outside Kathmandu valley are less reliable — carry adequate cash before trekking, regional fieldwork, or travel to rural project sites. Plan well ahead before major festivals (Dashain, Tihar) when ATMs regularly run dry.
Credit Information Bureau (CIB) Nepal
CIB data is accessed by banks and lenders when evaluating loan applications. Individuals access their CIB report by submitting a written request to CIB Nepal (Lazimpat, Kathmandu) with ID and a fee. Not consumer-friendly in the way of Western systems.
New expat arrivals have no local CIB history. Nepali banks primarily lend to foreigners on a secured basis (fixed deposit collateral) rather than based on credit score. Local borrowing for expats is limited — personal loans and mortgages are generally unavailable unless specifically structured through an employer. Keep bank statements, payslips, and employment letters as the substitute for credit evidence.
International transfers
Incoming SWIFT transfers from abroad are processed through Nepal Rastra Bank's foreign exchange controls and must be documented: keep remittance receipts, employment contracts, and invoice/source-of-funds letters for any significant inward payment. Banks issue encashment certificates for incoming foreign currency — keep these for tax records and onward transfers. Outward remittances (sending money from Nepal to your home country) are subject to NRB approval limits and documentation requirements; your employer HR team should be familiar with the process for expat repatriation. Wise and Revolut cannot send or receive in NPR.