connectIPS Fund Transfer
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1. What is a connectIPS e-Payment System?
Ans :

connectIPS e-Payment System is a single payment platform for payment processing, fund transfer and biller payments, directly from/to the bank accounts using alternate channels of web and mobile. The user will be able to send/receive payments up to the specified limit directly from//to the bank accounts without having to park their fund at an intermediary system.

2. Who operates and regulates the connectIPS System?
Ans :

connectIPS e-Payment System is the part of the payment infrastructure provided and operated by Nepal Clearing House Ltd. It is approved and regulated by Nepal Rastra Bank.

3. How do I create a new user and link my bank account?
Ans :

You can create a new user from here. You will create your user with username and password with some of your informations. Your mobile number and email id needs to be verified as the part of the username activation process.

You can link your account(s) of the banks that are within the network of the connectIPS system. You then need to carry the downloaded and duly signed linked bank account form to your bank branch for one-time verification and activation of the linked bank account.

4. What are the services available in connectIPS?
Ans :

You can use connectIPSfor payment processing, fund transfer and biller payments.

The payment processor is used for online payment at checkout from the merchant/creditor portal. Fund transfer allows to transfer to own account, bank account, mobile number or to listed favorite account. Biller payments are the third party creditor/merchant payments initiated from the connectIPS portal itself.

5. How much can I transfer?
Ans :

It is possible to send an individual payment of up to NRs 100,000 through web channel and NRs 5,000 through mobile channel (coming up) or as per the directive from Nepal Rastra Bank (NRB).

However, your bank may set their own limit for their customers depending on their internal policy.

6. How long does it take for fund transfer?
Ans :

The service is available 24x7. The fund transfer is processed with few steps by the sender, whose account is debited on real time basis, whereas, the beneficiary typically receives the funds almost immediately.

7. Can the transferred amount be reversed?
Ans :

The payments made through connectIPScannot be stopped or reversed through the system. For the specific cases of merchant payment, you may have to process off-line through the merchant/creditor itself.

For this reason it is important to make it certain that you are sending a right payment amount and to the right beneficiary. Before you make a payment to someone for the first time, double-check with them that you have the correct bank name, branch name and account number. Confirm the receiver’s name, if the payment is being made to the biller or by using mobile number of the connectIPSuser.

8. What are the fees & charges for payments through connectIPS?
Ans :

You may refer here for details information on Fees & Charges of connectIPSe-Payment System.

9. How secure is the system?
Ans :

The system has been built with necessary security features in line with the international benchmarks for such e-payment systems. The payment data are captured, processed and transmitted on a highly secured environment with end-to-end encryption. And no customer data are shared with the merchant, except the status of the payment. The authorization request is verified based on the credentials of your connectIPS username and other verification credentials.

10. Can I disable my linked account(s)?
Ans :

Yes you can disable you linked account, if you think you are not going to use it anymore and for longer time. You will be able to enable again by yourself.

11. Where do I contact for more information?
Ans :

For transaction specific query/issue, you may contact your bank, who will commence action on your behalf and contact NCHL as may be required. More information available at www.nchl.comand