20th May 2025, Kathmandu
Muktinath Bikas Bank Limited has introduced a new service to boost digital payments. This service allows customers from any bank to withdraw cash using a QR code at Muktinath Bikas Bank teller counters. The bank aims to reduce reliance on traditional methods like checks and ATM cards.
Muktinath Bank QR Cash Withdrawal
Muktinath Bikas Bank started the interbank teller QR service to promote digital payment methods. Customers can scan a QR code at the bank’s teller counter with their mobile banking app from any bank. After scanning, they can withdraw cash quickly and conveniently.
The bank says this service will reduce the need to use checks or ATMs for cash withdrawals. It offers an easier and safer way to access cash.
Service Available to All Bank Customers
This service is open not only to Muktinath Bikas Bank account holders but also to customers of other banks. People who do not have an account with Muktinath Bikas Bank can still use the service. They just need a mobile banking app from their bank to scan the QR code.
This makes cash withdrawal more accessible. It supports digital payments and helps people get cash without carrying physical cards or checks.
Initial Rollout in Selected Branches
The bank has launched this service at six branches. These include the main branch in Lazimpat, Kathmandu, and branches in Pokhara (Nagdhunga), Kohalpur, Itahari, Narayangadh, and Kamaladi.
Muktinath Bikas Bank plans to expand this service to all branches across Nepal soon. The bank wants more customers to enjoy this convenient cash withdrawal option.
Benefits for Customers and the Bank
This service offers many benefits. First, it encourages digital payments by making cash withdrawals simple and quick. Customers do not need to carry checkbooks or ATM cards.
Second, the QR system adds security. Mobile banking apps verify transactions digitally, reducing risks like card theft or check fraud.
Third, it supports financial inclusion. Customers without accounts at Muktinath Bikas Bank can still withdraw cash there. This opens new doors for people to access banking services.
How the Teller QR Service Works
The process is simple:
Open any bank’s mobile banking app.
Scan the QR code displayed at the teller counter of Muktinath Bikas Bank.
The transaction gets verified by the app.
The teller hands over the cash.
This quick method eliminates long queues and delays often seen with traditional cash withdrawal methods.
Contribution to Nepal’s Digital Economy
This service fits well with Nepal’s ongoing push toward a digital economy. The government and banks encourage people to use digital payments for safety and convenience.
The teller QR service offers a practical solution for cash access. It helps reduce ATM dependency and supports digital transformation in the financial sector.
Early Feedback and Future Plans
Customers have responded positively. They find the QR-based withdrawal easy and fast. Bank staff also note fewer crowds at teller counters and smoother transactions.
The bank will continue to improve the service based on user feedback. It plans to make digital banking accessible to more Nepalese in the future.
Expanding Digital Access Nationwide
Muktinath Bikas Bank aims to roll out the service nationwide soon. This will cover all its branches, bringing digital cash withdrawal closer to every customer.
This expansion will enhance the bank’s role in promoting digital payments and financial inclusion.
Final Thoughts
Muktinath Bikas Bank’s interbank teller QR service is a significant step in modernizing banking in Nepal. It reduces the need for traditional cash withdrawal methods and pushes digital transactions forward.
By allowing customers from any bank to withdraw cash through a mobile app and QR code, the bank makes banking faster, safer, and more inclusive.
With plans for a nationwide rollout, this service will benefit many people and strengthen Nepal’s digital payment landscape.
For more: Muktinath Bank QR Cash Withdrawal