The ‘Unified Directive on Payment System – 2078’ was released by Nepal Rastra Bank. The central bank has increased the maximum limit for transactions done using mobile and internet banking, as well as the maximum limit for remittances made through electronic wallets, as a result of the decision.
The new guideline allows for transactions of up to Rs 2 lakhs per day using mobile banking (including QR codes) and up to Rs 20 lakhs per day via internet banking.
Previously, mobile banking could only handle up to Rs 1 lakh every day. Similarly, the per-transaction limit for remittances from a bank account to a mobile wallet has been enhanced from Rs 25,000 to Rs 50,000. The maximum amount that can be transferred from the wallet to other bank accounts has also been raised to Rs 50,000 per transaction.
Meanwhile, wallet transfers of up to Rs. 1 lakh can be completed in a single day, which is unchanged from the previous time.
Customers would be charged a maximum of Rs. 10 per transaction up to Rs. 50,000 by banks and financial institutions, with transactions up to Rs. 3000 costing only Rs. 5. They would also be authorised to charge a maximum of Rs 20 for transactions between Rs 50,001 and Rs 100,000, and Rs 30 for transactions over Rs 100,000.