Kathmandu. Nepal Rastra Bank has reduced ATM fees. The bank has reduced the inter-bank ATM, wallet and internet banking fees by issuing the integrated directive on payment system, 2079. The National Bank has reduced the fees charged for withdrawing money using wallet, internet and card of one bank in another bank.

Until now, banks used to charge up to 20 rupees for such transactions when using an ATM card issued by one bank or an ATM of another bank or financial institution. Now, the National Bank has arranged to charge a maximum of 15 rupees.

Until now, 2 interbank ATM transactions per month were free. However, now the system of getting free transactions up to 2 per month has been removed.

The National Bank has also amended the limits of transactions and payments made through electronic wallets. Previously, there was a system where money could be transferred from the bank account to the wallet up to 50 thousand rupees per day. You can also send up to 2 lakh rupees per day from the wallet to other bank accounts. Earlier, only 50,000 rupees could be sent per day.

When sending money from one wallet to another wallet, earlier it was only possible to send up to 25,000 rupees in a day, but now it has been increased to 50,000 rupees per day. However, the limit of transactions that can be done per month has been kept unchanged.

In addition, the National Bank has also increased the limit of payment transactions through mobile banking and internet banking. By revising the arrangement that previously allowed transactions up to 2 lakh rupees per day through mobile banking (including QR code), it has been made up to 3 lakh rupees per day.

The provisions related to fees for revenue payment transactions conducted through wallets operated by payment service providers affiliated to the Government's Revenue Management Information System (RMIS) have also been amended.

Earlier, transactions up to 3000 rupees were charged at 5 rupees, but now transactions up to 5000 rupees can be made for the same fee. Similarly, a fee of Rs 8 will be charged for transactions between Rs 5,001 and Rs 10,000.

Earlier, a fee of Rs 8 was charged for transactions between Rs 3,001 and Rs 10,000. For all transactions above 10,001 rupees, a fee of 20 rupees has been charged, but this fee has been reduced to 10 rupees.

Also, for such purposes, if any surety bond is to be issued for international switches, the Rastra Bank has also brought a provision to do so in Nepali Rupees.