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Breaking News: Mobile Banking Fess Go Away for Small Transactions!
Kathmandu, April 2 – Grab your phone, as the wait is over! Nepal Clearing House Limited (NCHL) has announced a game-changer for mobile banking and wallets users. Effective immediately, transactions of up to Rs 500 will no longer be subject to fees, making online transactions more accessible and affordable than ever.
According to the revised fee structure, transactions between Rs 500 and Rs 5,000 will now incur a fee of Rs 4, while transactions above Rs 5,000 will be charged Rs 8. For merchant payments, the new fees will be Rs 2 for transactions up to Rs 500, Rs 4 for those between Rs 500 and Rs 5,000, and Rs 8 for those exceeding Rs 5,000.
But here’s the best part: customers will not be charged for transactions where the service provider or merchant covers the fees. This means you can enjoy hassle-free transactions, knowing that your service provider or merchant has got your back!
The Nepal Clearing House Limited (NCHL) has been adjusting transaction fees accordingly, given the significant growth in transaction volumes. In the last fiscal year, a massive Rs 5,697 billion was settled across 756 million transactions, while in the first eight months of the current fiscal year, transactions worth Rs 4,553 billion across 683 million transactions have already been settled.
Today, 52 banks and financial institutions offer fund transfer services through mobile banking apps via RPS and Connect IPS, while over 13 wallets provide cash-in and cash-out services linked to bank accounts. With this new development, mobile banking and wallets users can enjoy seamless transactions, without worrying about exorbitant fees.
Stay tuned for more updates on this exciting development, and get ready to experience the convenience of mobile banking and wallets like never before!