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opening a bank account

Last activity 07 November 2016 by TheoauNepal

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Alysha Sahee

This is the first time i wanted to change my account. I previously had my account at Mega Bank but the problem i faced was it doesn't have much branches around Kathmandu. I am a student so I need money frequently. But whenever I have money I deposit it for my future need. From the first time I wanted to open an account in Standard Chartered Bank but I don't know what is the minimum deposit for the local residence for opening an account.

moviegeekjn

The bank will let you know.. but I would guess that the amount to start an account is very, very low.  I am basing this on personal experience and from two young friends who opened accounts in two other Kathmandu banks.

techman

Nabil or Machhapuchhre may be fine for you..

binaya

Opening an account in the bank for transactions within the Kathmandu city is not so problem , many commercial banks are there with their corporate offices and their branches in prime locations. there are joint venture banks, local national banks and regional development banks. the most reliable banks of their many branches are consider to be commercial banks. they are 30 in number and one of them is Civil Bank whose number of branches are within the city areas, where I am working at present. if you really want to open an account with us than we can provide you the branch list within the city and also outside the valley. Apart from this we can arrange national and international debit card for easy transactions within the city as well as in other part of the country. Besides this you can be facilitated with e- banking services for easy banking facilities.

TheoauNepal

not sure I am answering your question, and I don't know whether you are a foreigner or not, a resident or not, but do bear the following in mind anyway.

if you have a rupee account, nepalese rupees are not convertible, which means only one thing:
As long as the nrs are not convertible currency, you cannot readily exchange them in other currencies like the dollar, the euro, sterling etc. and that is a major problem without official NRB authorization etc. which is hard to obtain, believe me, specially if one day you decide you decide to leave the country .
Without due authorization, the fact is that you cannot take your money out. 
note:  not being freely exchangeable on foreign markets, it is worthless currency in Paris, Dubai, NY or Tumbuctu!

TheoauNepal

Opening the account is not the problem
and if you are a foreigner, opening an account in foreign currency like a Euro or Dollar account is also possible if you can arrange for the initial deposit to be remitted through regular banking channels to that account in your name; same general procedure for further deposits originating abroad
You might also get authority to open/maintain a rupee account in that same bank

But here is what you should know about closing the account in the event you subsequently decide to leave Nepal
1. you can only legally take out something like a maximum of 2000 dollars with you in cash.  Do not try to take out much larger sums in your pocket when you leave Tribubhan Airport (check on current legal limit as regulations can change over time)
2. whatever sum you have remaining in a nepalese rupee account, YOU CANNOT CONVERT IT AND YOU CANNOT TAKE THE MONEY OUT OF THE COUNTRY

BEST ADVICE:  Don't get stuck with rupees that are worthless outside of the country:

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