Govt increases transactions limit on mobile and internet banking

Kathmandu: Nepal Rastra Bank (NRB) has increased the limit of electronic payments. By issuing integrated directives in the name of banks and financial institutions today, NRB has made an arrangement to pay up to Rs 200,000 in one day through mobile banking and up to Rs 2 million on the same day through internet banking.

Similarly, the transaction limit has been increased for those who pay through electronic wallet and do business. However, the maximum limit will not be an obstacle for payment of various bank accounts in the name of the same person and various fees including revenue, fines and taxes.

Now, up to Rs 50,000 per transaction, Rs 100,000 per day and up to Rs 1 million per month can be transacted in the wallet from the bank. Similarly, up to Rs 25,000 per transaction, Rs 100,000 per day and up to Rs 500,000 per month can be sent from one wallet to another. But you can’t keep more than Rs 50,000 in your wallet overnight.

When using an ATM card issued by a bank or financial institution at the ATM of another bank and financial institution within the country, arrangements should be made to make at least two transactions free of cost per month. Banks and financial institutions will be able to charge a maximum of Rs. 20 per transaction for more than two transactions.

Similarly, the institution licensed to operate payment services from NRB should make arrangements not to charge any additional fee from the customers for transactions made through POS and POT machines from merchants of department stores, marts, hotels and shops.

Similarly, in case of wallet, a fee of Rs. 5 per transaction, Rs. 3,000 to Rs. 10,000 to Rs. 10,000 and Rs.

Similarly, in mobile and internet banking transactions, the service provider will be able to charge Rs 10 for up to Rs 50,000, Rs 20 per transaction for Rs 50,000 to Rs 100,000 and Rs 30 for transactions above Rs 100,000.