17th December 2024, Kathmandu
As part of its initiative to promote digital transactions and celebrate its 16-year milestone in building Nepal’s robust payment ecosystem, the Nepal Clearing House Limited (NCHL) has announced free fund transfers via NEPALPAY Instant. This limited-time offer is valid until 16th Poush, 2081 (31st December 2024), allowing users to make seamless and cost-free fund transfers.
Enjoy Free Fund Transfers NEPALPAY
Key Highlights of NEPALPAY Instant Free Fund Transfers
Offer Details:
Free fund transfers through NEPALPAY Instant are available for Mobile Banking users of selected Banks and Financial Institutions (BFIs) and connectIPS users.
Users can transfer funds to over 31 BFIs and the primary account of connectIPS users without incurring any charges.
How NEPALPAY Instant Works:
NEPALPAY Instant is a proxy-based direct credit instrument that uses a Virtual Payment Address (VPA), which is the beneficiary’s mobile number.
This simplifies fund transfers by removing the need for traditional bank account details.
Participating Banks and Financial Institutions:
The service is currently available in the Mobile Banking apps of the following BFIs:
Sanima Bank
Global IME Bank
Nepal SBI Bank
Agriculture Development Bank
Garima Bikas Bank
Shangri-La Development Bank
It is also available through connectIPS.
What is NEPALPAY Instant?
NEPALPAY Instant is a cutting-edge digital payment solution designed to make fund transfers fast, convenient, and secure. By leveraging mobile numbers as a proxy for account details, it streamlines the process of transferring money directly to bank accounts.
How to Use NEPALPAY Instant?
Log in to your Mobile Banking App of the participating BFIs or connectIPS.
Choose the NEPALPAY Instant option.
Enter the recipient’s mobile number (VPA) and the transfer amount.
Confirm the transaction to complete the fund transfer instantly.
Benefits of NEPALPAY Instant:
Free Transfers: No transaction fees during the promotional period.
Convenience: Transfer funds using just the recipient’s mobile number.
Speed: Instant fund transfer with real-time processing.
Security: Backed by NCHL’s secure payment infrastructure.
Why Choose NEPALPAY Instant?
NEPALPAY Instant simplifies digital transactions, making it easier for individuals and businesses to send and receive money. By eliminating transfer fees and simplifying the process, NCHL aims to encourage a cashless economy and boost digital adoption across Nepal.
Limited-Time Offer
This exclusive opportunity to enjoy free fund transfers is valid only until 31st December 2024. Don’t miss out on this chance to experience seamless and cost-effective digital payments!
For more details: Enjoy Free Fund Transfers NEPALPAY