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IPS Service Agreement between NCHL and City Express Money Transfer

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August 24: Nepal Clearing House Ltd (NCHL) and City Express Money Transfer have signed an agreement to commence fund transfer service through inter-bank electronic payment system (IPS). CEO of NCHL, Neelesh Man Singh Pradhan, and the Managing Director of the City Express Money Transfer, Chandra Tandan, signed the agreement on the behalf of their respective organizations amid a recent function.

As per the agreement, customers sending money from abroad through City Express Money Transfer will be deposited in their bank accounts in Nepal via IPS. NCHL has permitted City Express to carry out the transaction as an indirect member of the company.

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