BFIs to Promote Free Digital Transaction Amid Coronavirus Crisis

Debit card of any bank can be used in any of the ATMs within the country free of cost

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BFIs to Promote Free Digital Transaction Amid Coronavirus Crisis

March 22: Banks and Financial Institutions (BFIs) have decided not to charge any amount for any kind of digital transaction due to concerns regarding coronavirus. The BFIs decided to provide such facility to their customers after it was revealed that the deadly virus can spread from paper currency.

Nepal Bankers’ Association, Development Bankers’ Association Nepal and Nepal Micro Finance Association issued a joint statement on Friday informing about their decision to promote cashless transaction.

For the time being, BFIs have decide to provide free internet and mobile banking services.

During normal days, BFIs used to charge a minimum of Rs 10 for such transactions.

BFIs have also decided not to take any charge for using debit card of one bank at ATM of another bank. It means that the debit card of any bank can be used in any of the ATMs within the country free of cost. Banks had been charging a minimum of Rs 25 for allowing withdrawal of money from their ATMs by customers of other banks.

They have also decided not to charge for the connect IPS services provided by Nepal Clearing House Limited.

These facilities will remain in place until further notice.

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