KATHMANDU, Jan 31 – Nepal Rastra Bank has reduced fees for interbank ATM transactions. The Central Bank issued the Integrated Payment System Directive-2079 and set the maximum fee at Rs 15 for interbank ATMs.
Previously, there was a provision to charge up to Rs 20. However, after Covid-19, such fees were arranged to be free up to twice a month. However, with ATM fees decreasing, the previous free system was phased out.
Similarly, the National Bank also modified the limits of money transfers and payments made through electronic wallets. Previously, there was a provision that up to Rs 50,000 could be transferred from bank account to wallet per day, but now it has been increased to Rs 2 lakh per day.
Furthermore, it has been arranged that up to 2 lakh rupees can be sent from the wallet to other bank accounts as well. Previously, only Rs 50,000 could be sent per day.
When sending money from one wallet to another, it was previously possible to send only up to Rs 25,000 in a day, which has doubled. However, the limit of transactions that can be made per month has remained unchanged.
Likewise, the limit of payment operations through mobile banking and internet banking has also been increased. Previously, through mobile banking (including QR code), transactions could be made up to Rs 2 lakh per day, but this has been increased to Rs 3 lakh per day.
Provisions regarding fees for revenue payment transactions made through wallets operated by payment service providers affiliated with the Government’s Revenue Management Information System (RMIS) were also amended.
Previously, transactions of up to Rs 3,000 were charged Rs 5, but now transactions of up to Rs 5,000 can be made for the same fee. Similarly, a transaction fee of Rs 8 will be charged for transactions between Rs 5,001 and Rs 10,000.
Previously, a fee of Rs 8 was charged for transactions between Rs 3,001 and Rs 10,000. For all transactions over Rs 10,001, a fee of Rs 20 was charged, but this fee has been reduced to Rs 10.
Banks and financial institutions will be able to choose electronic payment cards, including credit, debit and prepaid cards, informing customers of the various cards provided. When issuing such a card, along with the application form, customers must provide informational materials covering issues such as card issuance and transaction fees, transaction limits, interest rate for using the card, and other available facilities. of the card.
Interbank ATM fees reduced, limits on mobile banking and other transactions increased
