NCHL offers free fund transfers via NepalPay instant

Nepal Clearing House Limited (NCHL), in celebration of its 16th anniversary and to promote digital transactions, has announced a limited-time offer of free fund transfers through its NEPALPAY Instant service. The offer, valid until 16th Poush 2081 (December 31, 2024), enables users to transfer funds seamlessly without incurring any charges.

The service is available to Mobile Banking users of select Banks and Financial Institutions (BFIs) and connectIPS users. Transfers can be made to over 31 BFIs and primary accounts of connectIPS users. Participating institutions include Sanima Bank, Global IME Bank, Nepal SBI Bank, Agriculture Development Bank, Garima Bikas Bank, and Shangri-La Development Bank.

NEPALPAY Instant simplifies the process of fund transfers by using a Virtual Payment Address (VPA), typically the recipient’s mobile number, eliminating the need for traditional bank account details. Users can access this service through Mobile Banking apps or connectIPS, making fund transfers fast, secure, and convenient.

To use NEPALPAY Instant, users can log in to their Mobile Banking app or connectIPS, select the NEPALPAY Instant option, input the recipient’s mobile number and transfer amount, and confirm the transaction. The real-time processing and secure infrastructure make it an efficient solution for individuals and businesses.

NCHL has introduced this offer to encourage digital adoption and support the transition to a cashless economy in Nepal. The company invites users to take advantage of this free service before the deadline to experience hassle-free and cost-effective digital payments.