Union Money Transfer Company Limited (UMTCL) has started providing fund transfer (remittance) service to the Nepalese living in the United States of America (USA), the United Kingdom (UK) and Canada. For this service, they can transfer funds to Nepal, either using their Bank account, maintained with the local banks or Credit Card issued from the local Banks in those countries. As such the transaction will not only be secured and reliable, but the senders can also track the status of their transactions through the internet. UMTCL uses Union Cash Card for the service with following features:

1. Union Cash Card is issued with the License from Visa International, under the sponsorship of Standard Chartered Bank Nepal Limited.
2. Union Cash Card being Visa Electron Debit Card, it can be used in any ATMs, for Cash Withdrawal or in the Point of Sale (POS) terminals, for purchase of services and goods.
3. Beneficiary can also avail the funds received through various authorized Payout Centers in Nepal.
4. Union Cash Card can be used at ATMs, POS terminals, in India, too.
5. The beneficiary can do away with the hassles of withdrawing the entire funds received, as a single transaction as they shall have option to use the funds as and when required through the usage of card.
6. The beneficiary can also open an account at Union Finance Limited, from the funds received, with attractive interest rates.









NO GIMMICKS, NO FREEBIES, JUST GUARANTEE: YOUR LOVED ONES WILL RECEIVE MONEY SAFELY, SECURELY, IN TIME WITH BEST EXCHANGE RATE.
http://remit.umtcl.com.np Welcome to UMTCL!! Send funds to your dear ones in Nepal from USA, UK and Canada. The funds can be delivered to your loved ones in Nepal through more than 70 payout centers and 80 ATM's, and to over 20,000 ATM's for those in India. SEND MONEY TODAY!






Fee Schedule
Transaction Between: Transaction Fee
USD 1 and USD 500 Flat fee of USD 7.00
USD 501 and USD 1500 Flat fee of USD 12.00
USD 1501 and USD 2500 Flat fee of USD 14.00
USD 2501 and USD 7500 Flat fee of USD 22.00
Company Name Exchange Rate (19/6/07) Amt. Received @ $1000 Diff. To UMTCL (NPR)
UMTCL 64.9500 64,950
MoneyToNepal.com 64.3000 64,300 -650
Muncha.com 64.3005 64,301 -650
Xoom 63.4976 63,498 -1,452
PayNep.com 64.3005 64,301 -650
Thamel.com 64.3000 64,300 -650
iKobo 64.7300 64,730 -220
Western Union 63.7787 63,779 -1,171
MoneyGram 64.4985 64,499 -451
NepBiz.com 64.5500 64,550 -400

UNION MONEY TRANSFER COMPANY LIMITED

3rd Floor, Kamaladi Complex, Kamaladi
Kathmandu, Nepal
Phone: 00977-1-4268370, 4444713
Fax: 00977-1-4445442
Email: umtcl@wlink.com.np

AND WHAT THE HELL IS:
USD 1 and USD 500 Flat fee of USD 7.00 plus 2.65% of transaction amount.
USD 501 and USD 1500 Flat fee of USD 12.00 plus 2.65% of transaction amount.
USD 1501 and USD 2500 Flat fee of USD 14.00 plus 2.65% of transaction amount.
USD 2501 and USD 7500 Flat fee of USD 22.00 plus 2.65% of transaction amount.

transaction fee???

then you will charge for every withdrawal thru ATM..

These are the rates for muncha.com:

USD 1 and USD 50 Flat fee of USD 5.99
USD 51 and USD 200 Flat fee of USD 6.99
USD 201 and USD 500 Flat fee of USD 9.99
USD 501 and USD 1000 Flat fee of USD 12.99
USD 1001 and USD 2500 Flat fee of USD 15.99
USD 2501 and USD 7500 Flat fee of USD 9.99

They sound almost the same.... whatever happened to free competition!!!

Whoever is trying to do advertisement .... its a fake one.
UMTCL is NOT BETTER THAN money.muncha.com .

Here are two examples of how exchange rates are affected ...... for all your costs. And that is what how much your relatives get back.

If you cannot provide competitive rates, don't fool nepali people.


Amount (X) Fee (Y) Tran Fee (A) Total (T) Exchg Rate (P) you get (M) Actual Exch Rage
X Y z% of X T=X+Y+A P M = P*X R=M/T
Muncha $3,000 9.99 0 $3,009.99 64.3 192900.00 64.08659165
umtcl 3000 22 2.65 $3,101.50 64.9 194700.00 62.77607609
Muncha 1000 12.99 0 $1,012.99 64.3 64300.00 63.47545385
umtcl 1000 12 2.65 $1,038.50 64.9 64900.00 62.4939817

Oops, that got messed up. Here it is in picture format

why is this person advertising???

Tran Fee of 2.65% is only for credit card transactions, which 3% in Muncha

Method of Payment Internet Checks
Amount (X) Fee (Y) Tran Fee (A) Total(T) Exch Rate (P) you get (M) Actual Exch Rate
X Y z% of X T=X+Y+A P M=P*X R=M/T
Muncha 3000 9.99 0 3009.99 64.3 192900 64.08659165
umtcl 3000 22 0 3022 64.9 194700 64.42753144
Muncha 1000 12.99 0 1012.99 64.3 64300 63.47545385
umtcl 1000 12 0 1012 64.9 64900 64.13043478



Method of Payment Credit Cards
Amount (X) Fee (Y) Tran Fee (A) Total(T) Exch Rate (P) you get (M) Actual Exch Rate
X Y z% of X T=X+Y+A P M=P*X R=M/T
Muncha 3000 9.99 3% 3010.02 64.3 192900 64.08595292
umtcl 3000 22 2.65% 3022.0265 64.9 194700 64.42696647
Muncha 1000 12.99 3% 1013.02 64.3 64300 63.47357407
umtcl 1000 12 2.65% 1012.0265 64.9 64900 64.12875552

Even if others charge only 9.99 for $3000 transfer, UMTCL's actual exchange rate is still higher.

Prakashji, get facts correct before you accuse people of cheating

Prakashji, get your facts correct before you accuse people of cheating.

Great comeback Kwalkhu. Proud of u dawg..

Thank you for your support Grokhali

.My Mistake and I appologize.
I've already opened the account with untcl today.

Will be sending next month, if it countines to provide better and reliable service.

And one suggestion:
To make it convinient to people sending money, set up contact point in US/UK.

.One more suggestion

Defalut that fees page to "internet check" option. Just see other responses to this thread, it was not only me who got deceived by transaction fee.

Customers usually don't go to each and every pages, and options on each page. For better marketing, highlight the plus points (and also mention the catches if any, after that).

I think I am writing too much today, but was just going through "each options" in the pages.

In the Faq section, it is said, money can be withdrawn from your branches, atm's or POS's. But in "fees" section and in the "send money" section, it has an option for "Deliver to recipient" and "Deposit in recipient's account".

which one is true? Please remove contradicting statements/options from the pages.

Did this happen in the process of 'copying' muncha's 'look & feel'?

I don't know why .... muncha's and umtcl's website look 80% similar to me.

.Now I understand the business completely and I am getting enlightened minute by minute.

There is nothing wrong with umtcl ....... They are doing a good business and I wish them best of luck.

Now I can explain why muncha and untcl look similar. Its just because they are agents of actual money transferring site called RapidRemit, which itself provides such service and has the EXACT look and feel as that of umtcl and muncha.

Though umtcl is not listed as its agent in Nepal, money muncha is.
This doesn't rule out untcl is not agent of Rapid Remit.
I created a "test account" with untcl and got a call from Rapid Share for erroneous data entry. I don't know why umtcl is not listed as one of the agents ....

I will be using the best serive available in the market. And at present umtcl looks better than anyone else for better "actual exchange rate".

Thank you kwalkhu for correcting me .......... Now I understand the business of sending money.

Prakashji, Thank you for your valuable suggestions. We shall incorporate your suggestions ASAP. We are in the process of deafault page of fees to Internet checks.Use of branches, POS or ATMs is part of "Delivery to Recipient". UMTCL is not an agent of Rapid Remit. But if Rapid Remit want to use UMTCL's delivery network in Nepal they can. Both UMTCL and Munch and few others' service provider is PayQuik. Because of strict and expensive anti money laundering policies of US gov., it is not financially fisible for Nepalese companies to operate on its own in US.