NEPAL TIPS Technology

Inter Bank Fund Transfer via FonePay in Nepal

Inter Bank Fund Transfer via FonePay in Nepal

Due to this lockdown, everyone is still at home. It’s already been more than two months. Everybody has become habituated about this.

Many of us are bored, some of us are busy operating their business and works from home. Everyone, are trying their best from their sides being engaged digitally, working digitally.

Similarly being digitalization this popular now people can even transfer the money from one bank to another being home. Yes, transfer funds from their own homes from one bank to another bank using their mobile phones in simple steps.

This can be done by using their own phones mobile banking applications.
You can send or receive money directly through your mobile phone staying safe indoors.

This is a more fast and convenient way to transfer money. No need to rush, more safety and an easy way to do the transactions.
There’s a two-factor authentication in this service. So it’s safe, you don’t have to worry about it.
So, we will tell you how what and why Fund transfers through mobile banking.

Also, Fonepay recently won a PCI DSS certificate to prove its Secure payment gateway. Read about this here.

Inter Bank Fund Transfer

This Inter Bank Fund transfer means to transfer money of your bank account from one bank to another account number of another bank.

Fonepay in nepal
Image Credit: Fonepay

Inter Bank Fund Transfer through FonePay in Nepal

FonePay has been providing various services through mobile banking to users. It has made our lives simpler and easier. They have direct fund transfer, money transfer to mobile numbers, and so on. This Interbank fund transfer is also one of the services among them.

How to transfer money from one bank to another using FonePay mobile banking?

  1. Download the mobile banking application of the bank that you have an account on or associated with.
  2. Enter your mobile number and password in that application that appears on the initial page.
  3. As soon as you log in with your account, you will see the Send Money option. Click that.
  4. There you will see 3 options;
  • An option to send money in mobile number.
  • Another option to fund transfer to other person bank accounts of the same bank.
  • Lastly option for inter-fund transfer; from one bank to other banks.

5. Click on the last option for Inter Fund Transfer.

6. Click the amount, Bank name, Mobile number, and your bank account number with remarks.

7. After filling details, confirm and submit the payment.

8. Enter your 4 digit transaction pin to proceed and confirm your processing. Else there is a fingerprint option as well if you don’t remember your transaction pin details.

There are limitations on the Fund Transfer as per the regulations and certain policies of FonePay.

So, only 1,00,000 per transaction in a day and 10,00,000 per month can be done.
This is recently applicable from June 1, 2020.

How much it costs to transfer funds in Nepali banks?

Transaction amounts range in NRs. Service charge per transaction in NRS
100 to 100010
1001 to 10,00020
10,001 to 20,00030
20,001 to 30,00040
30,001 to 40,00050
40,001 to 50,00060
50,001 to 100,00075

In case if you dont have a mobile bank activated in your bank account you can request or activate through the bank application.

How to activate mobile banking?

Inter Bank Fund Transfer  via Fonepay in Nepal
Image Credit : FonePay
  • Download the mobile application of the bank.
  • Click on the activate service.
  • Enter the mobile number and your account number of the bank.
  • Enter your activation code received in the message box.

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Don’t forget to comment down your thoughts, how excited are you to transfer your money from one bank to another staying at your home, using mobile phones.

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Sumi is the Content Manager of ICT BYTE. She is a tech enthusiast with lots of dreams and aspirations in life. She believes in the power of positive thinking for success and a happy life.

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