Sending funds up to Rs 2 lakh to any bank through PhonePe Direct will incur a fee of Rs 10

Only 10 rupees will be charged for interbank money transfer through PhonePay Direct, the operator of Nepal’s leading payment system, PhonePay.

Transferring amount between Rs 100 to Rs 2 lakh through PhonePe Direct will be charged only Rs 10 from now. Earlier, fees were charged according to the result of the amount.

This fee is the lowest fee charged for doing interbank transactions in Nepal. It is expected that another big milestone will be reached in digital transactions with the reduction of charges by PhonePay.

Money can be sent easily by mentioning the mobile number of the recipient in any bank through PhonePay. Money can be sent easily by clicking on the Send Money option in the mobile apps of any bank and financial institution connected to the PhonePay network.

PhonePay Payment Service Limited is a leading and reputable payment system operator of Nepal licensed by Nepal Rashtrabank. 60 banks and financial institutions are affiliated to PhonePay network.

There are more than 500,000 merchants on PhonePay so far. It has been providing services to more than 13 million mobile banking users and more than 45 million payment service providers’ mobile apps.

PhonePe is also a THRITUWAN certified organization to meet the world’s renowned data security standards, the Payment Card Industry Data Security Standards (PCIDSS).

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