Bank Deposits Only above Rs 50,000! Covid-19 banking services in Nepal

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NCHL

In response to the restriction imposed in this second wave of Covid-19, Nepal Bankers Association has informed the public about the banking services that would be available during this period.

Through a press release published on Thursday, NBA urges everyone to go for digital banking transactions as much as possible. The notice informs about the banking services which are available during this restriction.

covid19 banking services restriction in Nepal

This restriction is supposed to be a precautionary measure to break the chain in spreading the virus. While the restriction is going on, many individuals and businesses are greatly affected. Hence, banks are operating with high precaution in the working shifts as much as possible. However, the regular services are not fully functional at present. In this case, the NBA issued this notice to the banking customers to follow the utmost care precautions and opt for digital transactions. 

Which banking services will be available during the Covid-19 outbreak?

While regular services like opening the bank account manually are not available these days, these banking services would be available during the current Covid-19 upstream. 

  1. All the ATMs of the banks would be open
  2. The call centres of banks would remain open during the working hours

The notice further informs that the banking services would be limited to only for the following transactions:

  • Withdrawing money
  • Bank Deposit (Only above Rs 50,000)
  • Funds Transfer via cheque, IPS, RTGS etc.
  • Remittance Payment
  • International Trade

Moreover, the customers can reach out to the information officers of the respective branches through their website for any other kind of queries and issues. 

Digital transactions have boomed in Nepal during this pandemic. Payments from digital wallets, QR codes, and payment systems like connectIPS are greatly in use in retail payment transactions. Similarly, NCHL’s products like NCHL-ECC, NCHL-IPS, RTGS, corporatePay are also supporting digital payments. This is one of the positive consequences of the Covid-19 outbreak. It is believed that it would go further, developing the digital banking and digital payment culture in Nepal. Techsathi also suggests every reader use digital means of payment or banking as much as possible.

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