💵 How to Open a Dollar Account in Nepal (2025)
A dollar account (also called a foreign currency account) allows you to hold and receive USD or other foreign currencies legally in Nepal. Here's a simple guide to opening one.
1. Choose an Authorized Bank
Choose a commercial bank in Nepal that offers foreign currency accounts. Popular options include:
- Nabil Bank
- Global IME Bank
- Nepal Investment Mega Bank
- NIC Asia
- Siddhartha Bank
2. Know Who Can Open a Dollar Account
As per NRB rules, these people can legally open dollar accounts:
- Remittance recipients
- Students studying abroad
- NRNs (Non-Resident Nepalis)
- Import/export businesses
- Foreign currency earners (freelancers, YouTubers, exporters)
3. Documents Required
- Valid Citizenship / Passport copy
- PAN card
- Recent passport-size photo
- Income source document (e.g. remittance slip, freelancer income proof, offer letter, export invoice)
- Self-declaration form
Note: Students need university admission letter and visa copy.
4. Visit the Bank or Apply Online
Most banks offer in-branch account opening. Some banks also provide online application forms on their websites.
Tip: Always ask for FCY Savings Account or USD Account specifically.5. Initial Deposit & Conditions
- Minimum deposit: Usually $100–$500
- Account is maintained in USD, EUR, GBP, etc.
- Interest is usually low (0–1.5%)
You can deposit only foreign-earned money (not local NPR converted to USD).
6. What You Can Do with the Dollar Account
- Receive remittance from abroad
- Send payment for study, freelancing, or imports
- Hold and convert to NPR legally
- Use for PayPal or international banking
💡 Important Notes (2025)
- Only foreign income is allowed to be deposited
- Transactions are monitored by Nepal Rastra Bank (NRB)
- You must declare the income source
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Published by Barala Finance Blog • Updated 2025 • Visit Blog
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Nepal