May 5: Everest Bank has launched instant money transfer (remittance) in collaboration with Xoom Corporation, USA. In the press statement, the bank informs that the bank have partnered with Xoom to expand modern banking services from USA.

 “Nepal receives a significant sum of remittances in proportion to the country’s Gross Domestic Product. The presence of Xoom will further contribute to the easy, secure and convenient transfer of remittances into the country,” said A. K Ahluwalia, Chief Executive Officer of Everest Bank in the press statement. It has been informed that customers can transfer up to $1,000 for a flat fee of $4.99 through Xoom corporation. Similarly, for transactions beyond $1,000, the fee will be waived when paying with a U.S. bank account.

Xoom, a PayPal service, is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer.