Nepal | August 06, 2020

Inter-bank transaction fees from today

Himalayan News Service
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KATHMANDU, JULY 15

Banks and financial institutions (BFIs) have decided to halt the waiver on digital transaction fees, including inter-bank ATM cash withdrawal, that was announced for customers since the beginning of the lockdown.

Nepal Bankers’ Association (NBA), Development Banks’ Association Nepal (DBAN) and Nepal Finance Institutions Association (NFIA) officially decided today that giving waiver to fees and charges on cash withdrawal from ATMs of any banks and other digital transactions will be subject to the decision of the particular institution from Thursday onwards.

The decision has opened the door for BFIs to collect charges and fees on interbank digital transactions made by customers, including withdrawals from ATMs.

In a bid to facilitate customers during the lockdown, BFIs had announced free digital transactions, inter-bank ATM cash withdrawal and interbank payment services since March-end.

A version of this article appears in e-paper on July 16, 2020, of The Himalayan Times.

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