Nepali Banks started launching e-cards

Kathmandu, April 3: After the Nepal Rastra Bank (NRB) approved the issuance of convertible foreign currency prepaid cards for the purpose of paying for goods and services purchased from abroad online, various banks have started launching e-cards.
Sunrise Bank has stated that it has launched Sunrise e-card under digital banking.

Similarly, NIC Asia Bank has also issued a press release to bring such service in operation. Earlier, Nabil Bank has launched this service. In the process of issuing dollar cards, Global IME Bank has issued a dollar card called ‘Global Ecome Dollar Card’.
Machhapuchhre Bank has launched MBL smart dollar card. Customers who have an account with the bank can get a card worth USD 5 by submitting their PAN card, the bank said.

Nepal Investment Bank Limited (NIBL) has also started the service under the name ‘NIBL V-Prepaid International Card’. Through the virtual card, the customer can convert US dollars into Nepali currency.

The bank has also brought 35 days 35 percent discount facility for the customers saying that it is 500 US dollars for one year.
NMB Bank has also introduced prepaid cards. Himalayan Bank has also introduced ‘Dollar Prepaid Card’ facility for international payment purposes. Siddhartha Bank has launched Siddhartha Income Card. Under this facility provided by NRB, the customers who have an account with the bank can get a card worth USD 500 by submitting their PAN card, it is mentioned in the circular of Nepal Rastra Bank.

With the help of e-card, online purchase of goods and services from other countries of the world except India and Bhutan can be made through e-commerce site up to a maximum of five hundred US dollars per annum. The bank has stated that the customer can transact the same amount at once or repeatedly through this card.

The bank also said that customers can promote their business through social media including YouTube, Facebook and Netflix Recharge using e-cards. Banks have stated that in order to get the card, the customer has to have a PAN card along with the account with updated KYC details. While issuing such a card, the bank will charge a certain amount for the card fee and it will be free when loading dollars for the first time.

The bank said that the card can be used for online Netflix recharge, payment of tuition fees and promotion of its business through social media including YouTube, Facebook, Twitter and WhatsApp.
Dev Kumar Dhakal, spokesperson of Nepal Rastra Bank, said that the operation of this facility will help in making the unofficial payment of various services or fees abroad formal and transparent.

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