In an effort to promote digital payments and streamline low-value fund transfers, NCHL has slashed transaction fees for transfers up to Rs. 500 through the Retail Payment Switch (RPS). Transfers made via mobile banking, connectIPS, and PSP wallets for amounts of Rs. 500 or less will now incur no charges. This adjustment came into effect on April 1, 2025, in connectIPS and will be gradually adopted in mobile banking and wallets.
For other transaction fees, the rates remain Rs. 2 for amounts up to Rs. 500, Rs. 4 for up to Rs. 5,000, and Rs. 8 for amounts exceeding Rs. 5,000, plus VAT as applicable. In the first eight months of FY 81/82, NCHL has handled over 68.3 million transactions worth NRs. 4,553 billion. The RPS platform enables instantaneous transactions with limits of up to NRs. 20 lakhs per transaction for various banks and NRs. 1 crore within the same bank.
