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What to do if your bank account linked in connectIPS gets suspended?

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Have you ever got your bank account linked in connectIPS suspended? If your bank account in connectIPS somehow gets suspended, you can not transfer funds directly from your bank.

In what cases does connectIPS linked bank account get suspended?

connectIPS links our bank account and you can directly pay to other bank accounts or merchants through it. Unlike digital wallets, you do not need to load the funds there. For that, you must verify your bank account and link to connectIPS.

After linking your bank account, it allows you to make fund transfer or make payments through connectIPS, directly from your bank account. This helps to make easier, faster, and safer payments. Moreover, it offers real-time settlement as the amount directly transfers from one bank account to another.

However, there might be some cases where your linked bank account might be suspended. After that, you might not be able to transfer funds or make payments to the merchants, make utility payments, and/or government payments.

Your account gets suspended if you forget your security questions answers; here is how it happens

Well, we are not a computer to remember all the things every time. In case we forget our password, most of the systems offer the “Forget Your Password” option to reset a new password.

connectIPS too has this feature to reset your password. If by any possibility you forget your password and you clicked that button to reset your connectIPS password, there you’ll get two options:

  • Reset with security questions
  • Reset without security questions

If you select “Reset without security questions“, then you might be in trouble. In such a case, connectIPS suspends all of the linked bank accounts for your financial security.

Such type of suspended account gets active only after you activate the bank account from your respective bank.

How to reactivate your suspended bank account in connectIPS?

There are two ways to reactivate your suspended bank account:

  • Online self verification
  • Manual verification by visiting the bank

After this, you can reactivate your account and carry out digital payments through your bank account in connectIPS.

How to protect your account from being suspended in connectIPS?

There are some ways you can prevent your account from being suspended.

  • Always remember the security questions answer which you had entered during registration
  • If by any possibility you forget your password, then enter your username and mobile number during loggin in, click on “Forgot Password” to reset your password without suspending your bank account
  • Reset your password by clicking on “Reset with security questions“.
  • Then, give the correct answers of your security questions
  • After that, you’ll get the new password on your registration mobile number or email address
  • Then change your new password and login
  • Never share your OTP or password to anyone for the safety of your financial transactions

In this way, you can prevent your bank account from being suspended from connectIPS.

Also read: Nepal Starts Issuing E-Passport: Here are the features, Benefits

About connectIPS

connectIPS is the payment service operator licensed by Nepal Rastra Bank. It is a product of Nepal Clearing House Limited (NCHL). connectIPS is a one-stop solution for making payments and bank transfers. It offers an array of the following payment services directly through your linked bank account.

  • Utility Payments
  • Government payments
  • Financial Institutions
  • Fund transfers
  • Broker payments and more

Moreover, it is a faster, safer, and reliable payment system that allows for real-time settlements. For example, if you transfer Rs 10,000 from Global IME Bank to Sunrise bank, it will deduct the amount immediately from the former one and add to the later one. In addition to that, fund transfers through connectIPS are comparatively cheaper than from other systems. In this regard, it takes a maximum of Rs 8 to transfer the funds over Rs 5000. Furthermore, it takes a maximum of Rs 5 only to make tax payments to the government.

Hence once your account gets suspended, you need to verify your account once again. We hope this article helped you to recover your account and password. Also, we hope you will follow the tips to prevent your bank account from being suspended. Always remember the tips to save your account.

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Hi, I am a postgraduate student of Economics, stock market enthusiast, an occasional storyteller and a habitual reader.

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