Remittance Agreement between NIC ASIA Bank Ltd. and World Remit
NIC ASIA Bank Ltd. in collaboration with World Remit has started inward remittance services from more than 50 countries across the globe. NIC ASIA Bank has started the service in agreement with World Remit, with permission from Central Bank of Nepal.
As per the agreement, those residing in countries such as Japan, Canada, Australia, New Zealand, UK, the USA and more can send remittances to their family and relatives via WorldRemit, which can be picked up easily and instantly through a wide network of 270 branches and over 6,700 affiliate agencies of NIC ASIA Bank spread across the country. World Remit saves customers time and money as they can send remittances directly from their phones, without having to visit an agent. Transactions to Nepal via World Remit are growing by over 160% YoY, driven by the company’s low fees and the expansion of its partner network. World Remit offers customers a variety of ways to send money to friends and family in Nepal including bank transfer, cash pickup and airtime top up.
NIC ASIA Bank is now one of the largest private sector commercial banks in the country in terms of capital base, balance-sheet size, deposits, lending, number of branches, ATM network and customer base. The bank has 270 branches, 37 extension counters, 22 branchless banking services and 289 ATMs across Nepal with a network covering all major financial centers of the country. The Bank has largest balance-sheets size of NPR 215 billion, along with NPR. 169 billion deposit & NPR 147 billion Risk Assets. Now, Bank has 14 million customers base. The bank has always followed the best practices of good governance, risk management and internal control mechanisms.