Money while travelling in Nepal (cards, ATMs, currency exchange)

The currency used in Nepal is the Nepali Rupee (NPR). The current exchange rate between USD and NPR is approximately: 1 USD = 130 NPR.

It is not possible to buy Nepali Rupees abroad so travellers will have to exchange or withdraw Nepali Rupees once in Nepal. It is due to a rule that people cannot take Nepali Rupees outside of Nepal. The maximum amount of Nepali Rupees that one can take out of Nepal is Rs. 5,000 (approximately 40 USD). This rule is for both foreigners and Nepali.

Exchanging and Withdrawing Money in Nepal

Currency Exchange

• Thamel: Thamel is the tourist hub of Kathmandu. If you are staying there, you will find plenty of shops to exchange money. All major currencies are accepted and you will get a better exchange rate in Thamel than at the airport.
• At the airport: If you travel to Nepal by plane, the first place where you will have the option to exchange currency will be at the airport. They take higher commision but if you need some cash straight away, it is an option to exchange a small amount of cash here.

It is important that your foreign bank notes are in good condition as exchange shops will not accept bank notes that are broken.

ATMs

There are lots of ATMS in Kathmandu and withdrawing money is as easy as anywhere else. Especially if you are staying in Thamel, there will be plenty of ATMs. In addition, ATMs in Nepal accept both Mastercard and Visa cards.

• ATM lounges: There are individual ATMs but in Thamel you will also find ATM lounges where around 5-6 major banks’ ATM booths are in one lounge. 
• Withdrawal limit: Each bank has a withdrawal limit and you will not be able to withdraw too much cash in one go. Nabil bank has the highest limit, Rs. 35,000 (USD 260) per each withdrawal. 
• Withdrawal fee: all ATMs charge Rs. 500 for each withdrawal. If you have a Charles Schwab debit card, you will be able to get a refund for withdrawal fees.

Travel Cards

Wherever I travel, I always take my Revolut and Wise cards with me. My bank card from my home country used to get blocked often when using in Asia. Now, I only use Wise or Revolut when abroad. They are easy to use, possible to load with money in different currencies and never get blocked.

Digital Payment Apps in Nepal

In recent years, digital payment apps became increasingly popular in Nepal. I found that lots of restaurants or hotels will not accept bank cards but they all accept payments through Fonepay or eSewa. You can load your eSewa account even with an international card (I have been loading it using my Wise card) and start paying with eSewa at hotels, restaurants or even book bus tickets.

There are also specific shops that can top up your eSewa digital wallet. You will see the signs of these shops saying ’eSewa Money Transfer’. Here, if you take cash with you, you will be able to get your eSewa wallet topped up.

Cash Withdrawal Before Going on a Trek

It is important to withdraw a sufficient amount of cash before going on a trek. As you go on the trek route, you will only be able to pay by cash in Nepali Rupees at the tea houses. If you are going to EBC, there is an ATM in Namche Bazaar but the ATM can be unreliable and better to not count on it working.