Remittance Account

Remittance Account

Remit saving account has been designed to solicit deposit accounts of the Nepalese working abroad.

Remittance Account
6.03 %
Total Interest Rate

Last Updated Date: May 16, 2022

Sanima Bank Ltd

Sanima bank is one of the developed, strong and reliable banks promoted by the prominent and dynamic businessmen of the Non-Resident Nepalese (NRNs). It obtained an operating license from Rastra Bank of Nepal and started operating in 2004. Sanima Bank has 27 full-fledged branches inside and outside the Kathmandu valley to provide its customers with a banking financial solution and plans to develop even more facilities in different parts of the country. Sanima Bank Limited started its activity in 2004 as a National Level Development Bank. Sanima got the working permit from Nepal Rastra Bank to work as A Class Commercial Bank in 2012. Sanima has 79 undeniable branches and one expansion counter inside and outside the Kathmandu Valley and has further designs to extend its scope in the different piece of the nation.

Remittance Account

REQUIRED DOCUMENTS

Document required for Remit Saving Account

  1. Personal Account Opening Form
  2. Personal identification such as passport/citizenship.
  3. Two recent passport size photographs of account holder.
  4. Identification of account holder justifying the current address of customer such as utility bill (electricity/telephone) or PAN card or driving license or voter identity card etc. for KYC purpose
  5. Declaration of nominee with personal identification and PP size photograph
  6. Copy of VISA along with passport or work permit

What Is a Remittance Saving ? 

A remittance is a payment of money that is transferred to another party. Broadly speaking, any payment of an invoice or a bill can be called a remittance. However, the term is most often used nowadays to describe a sum of money sent by someone working abroad to his or her family back home.Most remittances are made by foreign workers to family members in their home countries. The most common way of making a remittance is by using an electronic payment system through a bank or a money transfer service such as Western Union. People who use these options are generally charged a fee. Transfers can take as little as ten minutes to reach the recipient.Remit saving deposit is for those people who are engaged in foreign employment and their family members. This ensures remittance comes through the direct banking channel of saving account.A remittance is a transfer of funds. A cash remittance is when the sender deposits cash instead of using a debit or credit card, cheque, or direct bank transfer to remit. A cash remittance requires the sender to provide their information such as full name, local address, the purpose of the remit.

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