NMB Bank Partners with Flywire to Simplify International Education Payments
23rd November 2025, Kathmandu
NMB Bank Limited has entered into a strategic partnership with Flywire, a global leader renowned for facilitating large-value, cross-border payments, to significantly streamline the process of transferring tuition fees for Nepali students pursuing education overseas.
NMB Bank Flywire Partnership
This collaboration addresses a persistent challenge faced by students and their families by simplifying the often-complex procedures of international payments.
Key Benefits of the Flywire Partnership
The partnership leverages Flywire’s extensive network, which encompasses over 1,700 educational institutions worldwide, and NMB Bank’s robust domestic network, offering unmatched convenience, reliability, and accessibility. Flywire already manages a major share of overseas education payments originating from Nepal.
Payment in Local Currency: Students, parents, and consultancies can now easily pay their tuition fees directly in Nepali Rupees (NPR). This is a crucial feature that eliminates the need for the payer to manage complicated foreign currency conversions and the associated foreign exchange risk.
Guaranteed Final Cost: The system provides accurate and transparent cost estimates upfront. All end-to-end charges are typically included in the quoted payment amount, meaning payers are not subjected to unexpected additional charges later in the process. The only additional required payment is the government-mandated education tax, which is typically incorporated into the quoted amount.
End-to-End Tracking: The partnership introduces a simple and trackable fund transfer process. Payers can ascertain the status of their funds at any point in the transaction journey, providing peace of mind and eliminating the security risks associated with older, more manual payment methods.
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Faster Refund Handling: The system promises a hassle-free refund procedure, with processing times significantly reduced to days, rather than the months often experienced with other conventional payment service providers. This is a vital benefit for students whose study plans change or who face visa-related issues.
Operational Mechanics and Accessibility
The new system is designed for maximum accessibility, ensuring that even individuals without an existing NMB Bank account can utilize the service across the bank’s broad network.
Digital Fund Routing: Payments can be routed from any commercial bank in Nepal directly into Flywire’s account at NMB Bank. This flexibility allows for digital transfers through channels such as ConnectIPS, RTGS (Real-Time Gross Settlement), or even cash deposits at a branch.
Nationwide Coverage: Processing for this streamlined payment solution is available across NMB Bank’s entire nationwide branch network, which includes over 200 branches, in addition to the bank’s digital and omni-channels. While the funds can originate from any bank, an in-person visit to an NMB Bank branch is required to verify the payment and provide the necessary regulatory documents, such as the No Objection Certificate (NOC) and student credentials.
Compliance and Security: By digitizing the process, NMB Bank and Flywire ensure a secure payment experience that is fully compliant with local security and foreign exchange regulations set by the Nepal Rastra Bank. This helps the bank manage complex security and compliance requirements more effectively.
NMB Bank’s Strategic Vision
This collaboration is a clear demonstration of NMB Bank’s commitment to innovation and its strategic position as a bank focused on value-based and sustainable banking. NMB Bank, a member of the Global Alliance for Banking on Values (GABV), views the partnership as a way to provide a one-stop solution for overseas education payments, thereby encouraging the use of digital platforms and adding significant value to customers pursuing higher education abroad. The initiative caters to the rapidly increasing outbound student mobility rate from Nepal, which necessitates a more modern and reliable payment infrastructure.
For More: NMB Bank Flywire Partnership
