PayRu Remit: common questions

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Written by admin

August 3, 2021

Need help deciding whether to send money to Nepal with PayRu?

We have put together a few of the Frequently Asked Questions (FAQs) to help you decide whether we are the right money transfer service for you…

1. Can I trust PayRu Remit?

  • Sia Shree Global Pvt Ltd. trading as PayRu Remit is authorized to operate in Australia and is regulated by the Australian Securities and Investments Commission (ASIC) under the Registration number 612 242 636. The Australian Securities and Investments Commission (ASIC) is an independent Australian government body that acts as Australia’s corporate regulator. ASIC’s role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors.
  • Sia Shree Global Pvt Ltd. trading as PayRu Remit is Registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC).

2. How secure are my transactions on PayRu Remit?

PayRu Remit is completely trustworthy and is among the most secure remittance service provider to Nepal from Australia.

PayRu Remit has a sophisticated compliance system with advanced KYC and AML/CTF compliance features – protecting our customers and our brand.

PayRu Remit uses Secure Sockets Layer (SSL) technology to provide you with the safest, most secure experience possible. SSL technology enables encryption (scrambling) of sensitive information during your online transactions. All the forms on our website are secured with SSL technology so your personal information stays safe and out of malicious hands.

3. What services does PayRu remit provide?

PayRu Remit provides a platform for Nepali diaspora in Australia to send money to their loved ones back home in the most convenient, secure, and fastest way possible, directly from their smartphone or computer at the lowest possible cost.

Currently, we offer our services in three different ways.

  • Instant Bank Transfer: – Send money directly to hundreds of major banks and financial institutions of Nepal.
  • Cash Pickup: – Receive cash in real-time from any of our 8000+ remittance payout agents.
  • eSewa Wallet: – Send money directly to the eSewa wallet.

4. How do I pay for my transfer?

You can pay directly from your bank account to ours via internet banking.

Our bank account details are as follows:

Bank Name: ANZ Bank

Account Name: SIA SHREE GLOBAL PTY LTD

BSB code: 014577

Account number: 428417966

PayID Type: ABN/ACN

PayID: 641 173 042

PayID Name: SIA SHREE GLOBAL PTY LTD

To make sure that your money transfer isn’t delayed, please ensure:

  • Use your own bank account to fund the transaction to ensure the name on your bank account matches the name registered in your PayRu Remit account — if the names don’t match, we won’t be able to process your transfer.
  • You transferred the exact amount you’re sending with PayRu Remit to our bank account — paying more or less could delay your transfer.
  • You have uploaded the screenshot of your bank transfer – if the screenshot is not uploaded, we won’t be able to process your transfer in real-time.

5. When will my money get there?

In most cases, money transfers are often available for your recipient in minutes, while some transfers can take longer.  In every case, we try to get your money where it needs to go as quickly as possible.

Tracking money transfers

We’ll send status updates by email as your money transfer progresses.

You can also go to your “My Transactions” page in our app/website at any time for status updates.

6. How much is the service fee to send the money?

PayRu Remit charges a small service fee of $5 for every transaction you make. Also, service fees are waived occasionally if there is an ongoing promotion.

As part of our little effort to help our customers and their loved ones back home from the ongoing COVID-19 pandemic, the service fee is free right now.

7. Do I need to register or create an account to send money?

All customers must undergo a one-time free registration process. You are required to fill in the mandatory details (KYC Form) and complete the online verification of your account by uploading the government-issued photo identification document (ID). After you’ve registered and we’ve verified your identity, you will be able to send money.

8. Why do I need to supply photo identification?

As part of the AUSTRAC’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) compliance requirement, we are required to verify your identity before we can provide the remit service to you. We have a legal obligation to verify that you are who you claim to be. This is done to protect you from fraudulent activity, comply with written laws and government regulations, and ensure the safe and accurate transfer of funds from your account to your intended recipient.

9. How long does it take to verify my identity?

We verify your identity electronically within minutes. However, in some instances

KYC verification process may take longer due to the following reasons:

  1. The information filled in the KYC form doesn’t exactly match the information on the government-issued ID.
  2. The identity document uploaded is not a government-issued photo identification document (ID).
  3. The uploaded image of ID is not clear, readable, or not a colour image.
  4. The identify document is expired or cancelled.
  5. The identity document is torn, damaged, or punched.

If your KYC verification is taking longer, and you need to send money urgently, please get in touch with us.

Need more help?

If you want to speak to our friendly support team, contact us.

Sign up today and get your first money transfer free. Download the PayRu app on iOS or Android and enjoy our market-leading rate and lowest fee.

Like or follow us on FacebookInstagram, Tiktok and Twitter to get regular updates on our services and offers.

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