NCHL Reduces Transaction Fees to Promote Digital Payments

To encourage digital payments and simplify low-value fund transfers, NCHL has reduced transaction fees for transfers up to Rs. 500 via the Retail Payment Switch (RPS). Transactions initiated through mobile banking, connectIPS, and PSP wallets for amounts up to Rs. 500 will now be free. This change took effect on April 1, 2025, in connectIPS and will be gradually implemented in mobile banking and wallets.

Other transaction fees remain Rs. 2 for amounts up to Rs. 500, Rs. 4 for up to Rs. 5,000, and Rs. 8 for above Rs. 5,000, with VAT applicable. NCHL has processed over 68.3 million transactions worth NRs. 4,553 billion in the first eight months of FY 81/82. The RPS platform facilitates real-time transactions with limits of up to NRs. 20 lakhs per transaction for different banks and NRs. 1 crore within the same bank.