(20th September, 2024)
Kathmandu: With an intention to promote digital transactions and to bring the festive vibes, the mobile number based fund transfer in bank accounts via NEPALPAY Instant is now free. Mobile Banking users of the selected BFIs enabled with NEPALPAY Instant and connectIPS users will now be able to make free fund transfer via NEPALPAY Instant till 30th of Ashoj, 2081 (16th October 2024) to bank accounts of 26 BFIs and to primary account of connectIPS user.
NEPALPAY Instant is a proxy based direct credit instrument in which fund transfer is made based on virtual payment address (VPA) of the beneficiary which is the mobile number of the beneficiary. This service is currently available in Mobile Banking of Sanima Bank, Global IME bank, Nepal SBI Bank, Agriculture Development Bank, Garima Bikas Bank, Shangri-La development bank and in connectIPS.