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Calculation as of May 19, 2017. 

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Rates: 

1. Thamel Remit Exchange Rate $1 = NPR 102.40 

2. Bank of America Rate USD 1 = NPR 103.23

Rate difference per USD 1: Rs (103.23 - 102.40) = Rs 0.83 

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Fees:

1. Thamel Fee = NPR 0 (For transactions over $1000) 

2. BOA Fee = $45 + $10 (An extra $10 may be charged to receiver by receiving bank) = 55 x Rs 103.23 = NPR 5677.65 

Fee difference per transaction: NPR 5677.65 

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Break-even point: (Considering an extra $10 charged to receiver) 

NPR 5677.65 / Rs 0.83 = 6840.54 

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Plan: 

If transfer amount is greater than $6840.54, use BOA 

Else if amount is lesser than $6840.54, use Thamel Remit 

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Validation with numbers: 

Scenario 1: Lesser than $6840.54 (Example: $3000) 

Thamel Remit: Rs 307209 (3000 * 102.40) 

Bank of America: Rs 304012.35 (3000 * 103.23 - 5677.65) 

Winner: Thamel Remit 

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Scenario 2: Greater than $6840.54 (Example: $8000) 

Thamel Remit: Rs 819200 (8000 * 102.40) 

Bank of America: Rs 820162.35 (3000 * 103.23 - 5677.65) 

Winner: Bank of America 

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Scenario 3: Break Even (Example: $6840.54) 

Thamel Remit: Rs 700471.29 (8000 * 102.40) 

Bank of America: Rs 700471.29 (3000 * 103.23 - 5677.65)
Outcome: Equal

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P.S. Please adjust the numbers (transfer fees and conversion rates) accordingly. The additional $10 fee may not be charged. 

P.P.S Don't let BOA perform USD to NPR conversion as their rates are lower.

Last edited: 19-May-17 11:50 AM

Last edited: 19-May-17 11:51 AM