Through the cross-border service, customers will be able to instantly send and receive money between Nepal and India through secure digital means.
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Nabil Bank has launched a Nepal-India-Nepal ‘Cross-Border Person-to-Person (P2P) Remittance Service. Through this service, customers will be able to send and receive money instantly between Nepal and India through secure digital means.
‘Under this service, Indian citizens who have accounts with Nabil Bank can now use their mobile banking app ‘N Bank’ to send money instantly to their family and friends in India,’ the bank said in a statement. ‘Both Nepali and Indian citizens have been provided with the ability to send money to Nabil Bank users in Nepal easily and quickly.’
According to the bank, this service is designed to make cross-border payments simple, secure and convenient for customers in both countries. ‘This service is an important step towards making cross-border payments fast and convenient. It reflects our commitment to improving digital banking services and expanding customer convenience in both Nepal and India,’ said Manoj Kumar Gyawali, Chief Executive Officer of Nabil Bank.
The bank has set limits for the use of the service, keeping in mind both regulatory arrangements and ease of use. When sending money from Nepal to India, customers can send up to a maximum of 15,000 Indian rupees per day and a maximum of 100,000 Indian rupees per month.
Similarly, a maximum of 200,000 Indian rupees per day can be sent from India to Nepal, and the monthly limit will not apply.
This service is operated in Nepal in collaboration with Nepal Clearing House Limited (NCHL) and Unified Payments Interface (UPI) in India.
