KATHMANDU, June 8: NMB Bank has introduced a real-time person-to-person (P2P) cross-border payment and remittance service between Nepal and India, enabling customers to transfer funds instantly between the two countries.
The service has been launched in partnership with Nepal Clearing House Limited (NCHL), with NMB Bank participating as one of the member banks facilitating the cross-border payment system.
According to the bank, the new platform allows customers to receive funds directly from India into eligible NMB Bank personal accounts in real time, eliminating the delays typically associated with conventional remittance channels. The service also supports transfers in the opposite direction through the integrated payment framework.
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To simplify transactions, customers can receive funds through a personalized Virtual Payment Address (VPA), reducing the need to share detailed bank account information. The bank said the feature is designed to make cross-border payments more convenient and secure for individual users.
NMB Bank stated that customers will be able to access the service through multiple channels, including digital platforms and branch-based assistance, allowing greater flexibility in receiving personal transfers and family remittances.
The bank added that the system incorporates automated monitoring and security measures to ensure the safe processing of cross-border transactions.
NMB Bank currently operates a nationwide network of 198 branches, 176 ATMs and nine extension counters.
