17th June 2025, Kathmandu
Nepal Rastra Bank (NRB) has introduced a new rule requiring all banks and financial institutions to verify customers’ national identity cards or their numbers before opening accounts.
NRB Mandates National ID Verification
This rule takes effect from Magh 1, 2081 (14 January, 2024). It aims to increase transparency and ensure secure banking across Nepal.
Mandatory National ID For All Bank Accounts
Starting from Magh 1, 2081(14 January, 2024), banks must confirm the national identity card (NID) or NID number before opening any bank account. The regulation clearly states that accounts can only be opened using these official IDs. NRB issued this directive to strengthen the financial system and prevent fraud.
Customers without a valid national ID will face restrictions when opening new accounts. This move helps banks identify clients correctly and maintain accurate records.
Special Rules For Nepali Citizens Living Abroad
For Nepali citizens residing abroad, the NRB allows some flexibility. Those opening accounts online through authorized institutions overseas can submit other necessary documents instead of the national ID or its number. This provision helps overseas Nepalis who may find it difficult to get their national IDs.
However, the bank or financial institution must update the customer’s national ID details within 35 days after the customer returns to Nepal. This ensures compliance with NRB’s identity verification rules.
Support For Vulnerable Citizens
The central bank has made special arrangements for people unable to obtain a national ID. Individuals who cannot take care of themselves, disabled persons, and helpless citizens may open bank accounts by providing other valid documents.
This approach ensures that vulnerable groups are not excluded from accessing banking services. It also supports financial inclusion while maintaining secure account management.
Why This Directive Matters?
NRB emphasizes that verified information improves transparency between banks and customers. Accurate identity data prevents fraud and misuse. It also allows banks to serve clients better and maintain trust.
By enforcing this rule, Nepal Rastra Bank aims to protect the banking system and provide safer services. This change reflects the government’s focus on financial security and formal banking growth.
What Customers Should Know?
From Magh 1, 2081(14 January, 2024), banks will only open accounts with verified national ID cards or numbers.
Overseas Nepali workers can submit other documents but must update their national ID details within 35 days of returning home.
Vulnerable individuals may use alternative documents to open accounts.
Banks and financial institutions will strictly follow these rules to ensure transparency.
For more:- NRB Mandates National ID Verification