14 August 2024, Kathmandu

Nepal Clearing House Limited (NCHL) has introduced a new interbank cardless ATM withdrawal service in collaboration with Prime Commercial Bank and Sangrila Development Bank.

Interbank Cardless ATM Withdrawal Service

This innovative service allows customers to withdraw cash without the need for an ATM card, enhancing convenience and flexibility for users.

Effective immediately, customers of both Prime Commercial Bank and Sangrila Development Bank can now use ATMs within the network to perform cardless transactions. The process is facilitated through Mobile Banking or ConnectIPS, NCHL’s retail platform. This development enables users to withdraw funds from their accounts at one bank using the ATM of another participating bank.

To utilize the cardless withdrawal feature, customers must register on ConnectIPS and log in to the mobile app. By selecting the cardless withdrawal option and choosing their bank account, users will receive a one-time password (OTP) on their registered mobile number. This OTP can then be used to access cash at any ATM within the network of the affiliated banks.

Currently, this service is available at ATMs of Prime Commercial Bank and Sangrila Development Bank. Plans include expanding the service to other member financial institutions in a phased approach.

Previously, cardless ATM withdrawals were restricted to ATMs of the customer’s own bank. The new service eliminates this limitation, offering greater accessibility and ease for customers across the participating banks.

This enhancement aligns with NCHL’s ongoing efforts to improve banking services and customer experience by leveraging technology to provide more versatile and user-friendly financial solutions.

Interbank Cardless ATM Withdrawal Service