22 September 2024, Kathmandu
In a bid to promote digital transactions and celebrate the festive season, NEPALPAY Instant has announced free mobile number-based fund transfers to bank accounts.
Free Fund Transfers Festive Season
From now until 30th Ashoj 2081 (16th October 2024), users of selected Banking Financial Institutions (BFIs) enabled with NEPALPAY Instant, along with connectIPS users, can transfer funds at no cost. This offer allows users to make seamless fund transfers to the accounts of 26 BFIs and the primary account of any connectIPS user.
What is NEPALPAY Instant?
NEPALPAY Instant is a proxy-based direct credit instrument that facilitates fund transfers using the mobile number of the beneficiary as a Virtual Payment Address (VPA). This eliminates the need for lengthy bank account details, making transactions faster and more convenient. The service is designed to provide a secure and efficient fund transfer experience for users.
Banks Offering NEPALPAY Instant
Currently, NEPALPAY Instant fund transfer is available through the Mobile Banking services of the following banks:
- Sanima Bank
- Global IME Bank
- Nepal SBI Bank
- Agriculture Development Bank
- Garima Bikas Bank
- Shangri-La Development Bank
- connectIPS
With these institutions supporting the platform, customers can take full advantage of the free fund transfer offer during the promotion period.
How to Access NEPALPAY Instant?
Mobile Banking users of the participating BFIs or connectIPS users can access NEPALPAY Instant via their respective mobile banking apps or through connectIPS, enabling them to make effortless transfers using just the recipient’s mobile number.
Why Use NEPALPAY Instant?
- Convenient: Fund transfers are simplified through mobile numbers, eliminating the need for bank account details.
- Secure: NEPALPAY Instant ensures safe and reliable transactions for users.
- Free: Enjoy free fund transfers to 26 participating BFIs and connectIPS primary accounts until 16th October 2024.
For more information: Free Fund Transfers Festive Season
