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 ANYONE HAS EXPERENCE WITH OPENING A NRN $$ BANK ACCOUNT IN NEPAL?
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Posted on 08-01-23 11:18 PM     Reply [Subscribe]
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Anyone opened a NRN $$ bank account in Nepal after obtaining the NRN ID? Kindly share your experiences.

Anyone without any personal experience with this - please don't post responses. There are some people who always have to post their "guess" or or an uniformed or smart remark here - please refrain from doing so. ONLY SEEKING ANSWERS FROM THOSE WHO HAVE OPENED AN NRN $$ ACCOUNT IN NEPAL
 
Posted on 08-02-23 1:24 PM     [Snapshot: 113]     Reply [Subscribe]
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I went to the Himalayan Bank to inquiry about the $$ account for NRN last month. Yes you can open the $account with the supporting documents BUT you can NOT withdraw / bank transfer $$$ from it as per the Rastra Bank policy. you can ONLY withdraw NRPs so dropped the plan.
 
Posted on 08-02-23 8:02 PM     [Snapshot: 207]     Reply [Subscribe]
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why'd you even wanna open a dollar account as an NRN? it makes no sense to open it.
 
Posted on 08-21-23 9:05 PM     [Snapshot: 627]     Reply [Subscribe]
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tutepani, the local withdrawal is in NRS but you can still take your principal back to the us account in us$$ as far as i know
 
Posted on 08-21-23 9:21 PM     [Snapshot: 633]     Reply [Subscribe]
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Nope, as per nepal rastra bank policy, they won't let you transfer $$ in the US banks as per the himalayan bank employee.
 
Posted on 08-21-23 9:34 PM     [Snapshot: 637]     Reply [Subscribe]
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Hi Tutepani, I think the HBL person is mistaken. I had the same experience when I went to some banks and the people didnt seem to know or different people gave different information.
Finally I emailed the banks and it was forwarded to the right person.

You are able to transfer any part of the principal in us $$ back to your connected US account. Of course, you cannot send more $$ than you transferred to nepal from your us bank anyway

NRN Foreign currency account - both the interest and principal can be repatriated to the linked bank account in the US. You need to link your own US bank account with the NRN account in nepal
-----local withdrawals are in nepali currency
 
Posted on 08-21-23 9:59 PM     [Snapshot: 651]     Reply [Subscribe]
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sajalshakya, maybe you're right. The HBL is not in the list.

https://nrna.org/about-nrn-foreign-currency-account/
4. What Are Benefits Of NRN Foreign Currency Account?
There benefits of NRN Foreign Currency Account are mentioned below:

• Interest rate of 5% or above (Varies according to Bank).
• Hassle-free repatriation of principal and interest without any charge.
• Waiver on Card charges, Internet banking facility and mobile banking facility (Varies according to Bank).
• Special concessions on conversion of FCY deposit into NPR, as per your need and convenience (Varies according to Bank).
• Be privileged to carry Premium VISA international card with 24 hours services (Varies according to Bank).
• As the account is opened in foreign currency, there is no exchange rate fluctuation risk.
5. How NRNA Is Working To Solve The Issue Of Liquidity In Nepal?
NRNA is coordinating with Government of Nepal for policy amendment in favor of NRNs as well it is motivating the Nepalese Diaspora to open Foreign Currency Account in Nepal to solve the issue of liquidity in Nepal.
6. List Of Banks
The list of Banks are enlisted below:
S.No Banks View
1 Citizen Bank International View
2 Everest Bank Limited View
3 Global IME Bank View
4 Kumari Bank Limited View
5 Laxmi Bank View
6 Machhapuchhare Bank View
7 Mega Bank Limited View
8 Nepal Bank Limited View
9 Sanima Bank View
10 Standard Chartered Bank View
11 Sunrise Bank View
***Please email us if you want to list your bank at info@nrna.org
 
Posted on 02-21-24 1:01 AM     [Snapshot: 1993]     Reply [Subscribe]
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Hi anyone get NRN citizenship recently?
 
Posted on 02-21-24 4:03 AM     [Snapshot: 2057]     Reply [Subscribe]
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Open with nrn citizenship! It’s easy! But more than 10 k usd in Nepal u have to report to IRS when filing a tax! No need to pay taxes but have to fill up another form called FBAR
 
Posted on 02-21-24 5:24 AM     [Snapshot: 2114]     Reply [Subscribe]
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Thank you Shekhar . Is this based on your personal experience? How do you do kyc at bank? Do you say nepali citizen and also fill out us citizenship info? Do banks accept the nrn citizenship?
 
Posted on 02-21-24 9:35 AM     [Snapshot: 2212]     Reply [Subscribe]
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Yes they will only accept nrn citizenship in most reputable prominent banks like SBI n Standard Chartered! The other regular banks I heard they even let you open account with only using your passport! Just go to the bank n they will fill up all the info for you! U don’t need to do a shit rather than signing n verifying the process! KYC is good at prominent banks but might be hacked if you open account in banks like NIC or Nabil or some Nepali banks n finances! I only suggests you to open bank accounts in banks that are run by a foreign country like SBI by India as chances of these banks going bankrupt is less compare to other Nepali banks! Cannot trust Nepali banks as who knows their CEO might transfer all the money n run away! Cannot trust Nepalese nowadays when it comes to money!
 
Posted on 02-22-24 9:22 AM     [Snapshot: 2430]     Reply [Subscribe]
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Thank you again Shekhar ji.
Does standard charter have khalti esewa etc? Probably will have much less than 10k in the account.
Not having khalti esewa phonepay etc is becoming somewhat inconvenient these days.
I had an acc with Himalayan hbl but now has zero balance. Their app is primitive with no esewa phonepay etc.

I read somewhere -either here or the nrn Facebook that a gentleman did video KYC with nabil and just put nepali which bypassed all US info but I am not sure if that is the correct legal way to do it. He also mentioned he dod esewa that way

Does sbi have branch in ktm?
 
Posted on 02-23-24 12:42 AM     [Snapshot: 2773]     Reply [Subscribe]
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If u r opening account with less than 10 k usd then why worry too much! Just open an account with any bank like u said which has esewa n phone pay! Yes SBi has branches all over Kathmandu, google it
 


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