What is the process of using IPS through internet banking?

The procedure of processing IPS through internet banking is as follows:

 An applicant for IPS product should have maintained an account with our bank and he/she has availed fund transfer facility.

 A separate menu of NCHL-IPS has been introduced in our current internet banking web page. The customers can get the Interbank Payment System (IPS) service process by clicking on this menu.

 After the menu is loaded, the customers will have to enter the following details for fund transfer:

•  Sender Name
•  Sender Mobile Number
•  Sender Email Id
•  Fund Transfer Amount (NPR only)
•  Receiver Name
•  Receiver Bank Name
•  Receiver Account Number
•  Receiver Mobile Number
•  Receiver Email Id
•  Remarks

 Customer has to enter all the required details and have to click Submit button. After clicking “Submit” button, customer will then receive an OTP confirmation code in their registered mobile phone along with email which they have to enter in order to execute the transaction.

 The charge for each transaction is NPR 30 which will be deducted once the IPS transaction is initiated.

 Once the transaction has been successfully completed, customer will then receive a notification of “Successful Transaction” only in their registered email as provided by the customer.

 Transaction initiated before 11 am through NCHL IPS fund transfer is completed on the same day by EOD whereas transaction initiated after 11 am shall be completed on the next working day.