How to get Master Card in Nepal:- Master Card is the Master of all the cards which provide the facility to perform all online transactions internationally as a payment gateway. Nepal Rastra Bank has given authority to all "A Level Level" banks to provide a master card to all its customers.
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| How to Get Master Card in Nepal |
There are some rules and regulations published by such banks and financial institutions when providing a master card to customers or you. You should be fully prepared for these rules and regulations before getting a master card.
If you are thinking of making online transactions(payments and receipt) using a master card then you are at the right article. Read this article to know everything about the Master Card process in Nepal.
Master Card Apply Eligibility Criteria In Nepal
- An applicant applying a Master Card then you must be 18 years old.
- An applicant must have maintained a personal account/business account with regular transaction.
- An applicant applying for International a master card requires to open Dollar/GBP/EUR account in the bank like NICA, HBL, Standard Chartered, Nabil Bank, etc. You should also able to provide the document of foreign currency(FCY) income source document compulsorily required.
- Nepal Rastra Bank has directed that if you want to receive a master card for online transactions from Nepal then you must have opened your Personal Account in the A-Level Bank or any Commercial bank in Nepal.
- So the first thing you should keep in your mind is to open an account in any Commercial bank in Nepal.
- An applicant cannot apply for a Master Card in Nepal from more than 1 Commercial Bank. For example, if you have a master card from Nabil Bank Limited then if you are thinking of getting Master Card from NIC Asia Bank then this is impossible.
- An applicant to apply for the Master Card you should have fully updated KYC in the Bank. Know Your Customer is provided by every Commercial Bank in Nepal. If you haven't updated it, go to your bank where you have opened your account then fill out the KYC form.
- A Permanent Account Number(PAN) is the most for getting Master Card. You can see your PAN Number using Nagarik App.
Click Here: Individual Account Document Required for Master Card
In Summary,
- Minimum age 18 years old.
- Regular transactions history
- Open Dollar/GBP/EUR/ Account in the Commercial Bank of Nepal.
- Can receive master from one bank
- Fully updated and verified KYC should be provided.
- PAN card required.
If you have followed all the above points then you are eligible to get Master Card in Nepal from any Commercial Bank of Nepal.
Master Card getting/applying process
- Open an account in the the commercial bank near you.
- Fill the Application form for the Master Card.
- Wait for the Application to get approved.
- Get your Master card in your hand.
Transactions Limit Using a Master Card in Nepal
You could do transactions of a maximum of $500 using a master card in Nepal. It means that if you do transactions of $500 within 1 month then for the remaining 11 months you cannot do any transaction using this Master Card.
Features of Master Card
- The validity period of a Master Card is 4 years
- You could perform payment, online transactions and shopping.
- Accepted in all the ATM counters and POS Merchant accepting this card.
- Monthly transactions statement and 24/7 support service to customers
What I cannot do using a Master Card?
You cannot use this Master Card on any illegal websites or illegal work otherwise your Master Card will be suspended. Not only this much your account could be also shut down.
Also, if anyone from a foreign country is living in Nepal and using a Master Card for illegal online transactions then this master card will also be suspended.
All the transaction detail of the customers using Master Card in all the Commercial Bank of Nepal should be provided to the Nepal Rastra Bank on a monthly basis. This means all the transaction history of every month done by the customers should be sent to NRB.
Difference Between Credit Debit and Dollar Card
Conclusion
We hope that by using all the above information you could be able to get a master card in Nepal. Beside the above information about a Master Card if you know other information regarding this topic then you could help us. Share this information to your friend and stay connected with us.
Read This
Click Here: Business Account Document Required for Master Card
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