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Cash Deposit to One’s Account Possible from any Bank

  1 min 13 sec to read

January 22: Nepal Rastra Bank (NRB) has directed banks and financial institutions to make provision for an account holder to deposit money to his particular bank account from any of the banks within the country. With the implementation of this decision, service seekers will no longer have to visit the bank where they created their account to deposit money as they can do it from any bank without any hassle. This provision is expected facilitate customers in banking transactions.

The customers will be able to deposit cash in any of the 3,030 branches of 28 commercial banks, 39 development banks and 27 financial institutions operating in Nepal. Though the deposit can be made from any bank or financial institution, withdrawal of cash can be made from the account holder’s bank or Automated Teller Machine (ATM) only. The central bank issued the directive on Sunday, January 21.

Customers should mention name of the account holder’s bank or financial institution and branch along with their identity card to get the service.

NRB has directed banks and financial institutions to acquire the customers’ details while providing the service. According to Narayan Prasad Poudel, spokesperson of NRB, the service has been introduced to make the banking transactions easy, simple and fast.

 “Customers should submit identity cards and purpose of the cash deposit if the amount exceeds Rs 100,000,” Poudel said.

  

 

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