connectIPS waives off transaction fee for fund transfer during month of Chaitra; aims to discourage customers to visit banks during ongoing Corona fear

With an objective to help reduce customer flow at the bank branches in the present context, Nepal Clearing House Limited (NCHL) has waived transactions fees in connectIPS e-Payment system for all the services available on the real-time retail payment platform for the month of Chaitra 2076. All services within connectIPS will be free for the sending customers of the member banks & financial institutions including mobile/internet banking channels of the BFIs and other technical/indirect member institutions.

Amidst the current situation, it is prescribed to take precautionary measures by avoiding crowds and restricted physical movements. However, the financial transactions being one of the basic services, this initiative of NCHL is expected to help the general public to some extent by using digital and online channels for their payment service needs.

connectIPS e-payment system allows to link multiple bank accounts for fund transfer and service payments up to Rs. 10 lakh per transaction in web and Rs. 1 lakh per transaction in mobile App. The connectIPS is also available in the mobile & internet banking of many of the BFIs also.