Kathmandu. With an intention to promote digital transactions and to celebrate the 16 years of NCHL in building payment ecosystem, the mobile number based fund transfer in bank accounts via NEPALPAY Instant is now free. Mobile Banking users of the selected BFIs enabled with NEPALPAY Instant and connectIPS users will now be able to make free fund transfer via NEPALPAY Instant till 16th Poush, 2081 ( 31st December, 2024) to bank accounts of over 31 BFIs and to primary account of connectIPS user.
NEPALPAY Instant is a proxy based direct credit instrument in which fund transfer is made based on virtual payment address (VPA) of the beneficiary which is the mobile number of the beneficiary. This service is currently available in Mobile Banking of Sanima Bank, Global IME bank, Nepal SBI Bank, Agriculture Development Bank, Garima Bikas Bank, Shangri-La development bank and in connectIPS.
