Interbank ATM Charges Reduced

February 1, 2023 | Investopaper

Nepal Rastra Bank has reduced the interbank ATM charges. 

The fee charged for withdrawing money by using one bank’s ATM card at another bank’s ATM has been reduced to a maximum of Rs. 15. 

Earlier, when using the ATM card issued by one bank at the ATM of another bank or financial institution, a minimum of two transactions per month were free and in case of more than two transactions, a fee of up to Rs. 20 could be charged. But now the provision of getting free transactions up to two per month has been removed.

The Central Bank has also amended the limits of money transfers and payments made through electronic wallets.

Previously, there was a provision that up to 50,000 rupees could be transferred from the bank account to the wallet, but now it has been increased to allow up to 2 lakh rupees to be sent per day.

When sending money from one wallet to another wallet, earlier it was possible to send only up to Rs. 25,000 in a day, but now it has been increased to Rs. 50,000 per day. 

The limit of payment transactions through mobile banking and internet banking has also been increased. Previously, through mobile banking (including QR code), transactions can be made up to two lakh rupees per day, but it has been increased to three lakh rupees per day.


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