Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

Bank Account-Based Online Fund Transfer Service Extended

  1 min 25 sec to read

August 5: Nepal Clearing House Ltd has announced extending its connectIPS e-Payment System for bank account-based online fund transfer facility. Customers of various banks will now be able to transfer funds online up to Rs 100,000 per transaction to its own bank account or to other beneficiaries.
 
Anyone interested to get the connectIPS services should register their names at www.connectips.com and link its bank account(s), which needs to be verified at the respective bank to initiate the service. 
 
Altogether 19 banks and financial institutions (BFIs) are currently in operation for such online fund transfer, whereas, 10 other BFIs have entered into an agreement for the service and are under testing phase. The active banks in the system include Citizens Bank International, Global IME Bank, Janata Bank,  Everest Bank, Laxmi Bank, Nepal Bangladesh Bank, Nepal Credit and Commerce Bank, Nepal Bank Limited, NIC Asia Bank, NMB Ban, Prime Commercial Bank, Siddhartha Bank, Garima Bikash Bank, Gandaki Bikash Ban, Lumbini Bikash Bank. Muktinath Bikash Ban, Om Development Bank, Sangri-La Development Bank and ICFC Finance.
 
The system was launched for e-payment of revenues for the Government of Nepal since 12th Baishak 2075 which uses payment processor facility of the connectIPS e-Payment System. And with the introduction of the online fund transfer facility, it is expected to largely ease fund transfer for bank customers. connectIPS e-Payment System has been established by NCHL as a single payment platform, as a part of the national payments infrastructure to support digital payments in Nepal. Other payments infrastructure that are currently operated by NCHL include Electronic Cheque Clearing (NCHL-ECC) system and Interbank Payment (NCHL-IPS) system.

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.