Mobile banking transaction amount limit increasedThe daily transfer limit has been doubled to Rs200,000 from wallet to bank account or from bank account to wallet.
Banks will not be allowed to charge more than Rs15 per transaction for using the interbank ATMs, according to a new directive issued by the Nepal Rastra Bank on Tuesday.
Through the new directive, the central bank has also increased the limit of the amount that can be transacted daily through mobile applications and quick response (QR) codes.
The daily transfer limit has been increased to Rs200,000 from wallet to bank account or from bank account to wallet. The earlier limit was up to Rs100,000.
However, such transactions on a monthly basis have remained unchanged at Rs1 million.
The central bank has reduced the amount that can be transacted from one wallet to another wallet.
As per the new directive, the wallet-to-wallet transaction, which was Rs100,000 per day, has been reduced to Rs50,000 per day.
The maximum amount of money that can be kept in the wallet is Rs50,000.
The payment service providers can do the remittance business [money coming from abroad] by making an agreement with the remittance company and that can be deposited in the electronic wallet operated in Nepal.
The service fee for transactions through the wallet has also been reduced.
As per the new directive, Rs5 can be charged for transactions up to Rs5,000, Rs8 for transactions above Rs5,000 to Rs10,000 and Rs10 for transactions above Rs10,000.
The earlier fee was from Rs5 to Rs20.
As well, the new directive said that a fee of Rs5 will be deducted for loading and withdrawing up to Rs5,000 in the wallet that is done through an agent.
For transactions ranging from Rs5,000 to Rs15,000, Rs15 will be charged and for Rs15,000 to Rs25,000, Rs25 will be charged. A fee of Rs10 will be charged to transfer money from the wallet to the bank.