Payment limit through mobile banking raised, withdrawal from prepaid cards slashed

KATHMANDU: Nepal Rastra Bank (NRB) has increased the limit of payment through mobile banking. Issuing a Unified Directive today, the central bank raised the limit of sending money from bank account to wallet and from wallet to other bank accounts.

The limit has been increased to Rs 50,000 per transaction, Rs 100,000 per day and Rs 1 million per month. Earlier, the limit was Rs 25,000 per transaction, Rs 100,000 per day and Rs 500,000 per month.

However, the limit for sending money from one wallet to another has been kept the same. At present, customer can send Rs 25,000 per transaction, Rs 100,000 per day and up to Rs 500,000 per month from one wallet to another.

Similarly, users will now be allowed to withhold Rs 50,000 in their wallets overnight from existing limit of Rs 25,000. As per the new arrangement, the amount exceeding the limit must be deposited in the concerned bank account of the customer.

NRB has also doubled the payment limit through QR code to Rs 200,000 per day. Also, the limit of payment through internet banking has been increased from Rs 1 million to Rs 2 million per day.

Meanwhile, the central bank has reduced the maximum withdrawal limit from prepaid card to Rs 10,000 per transaction, Rs 20,000 per day and Rs 200,000 per month.