Nabil introduces Nabil iCard enabling payment of dollar transactions in rupees

KATHMANDU: Nabil Bank Limited has introduced Nabil iCard, an international card that lets you pay in rupees for transactions in dollars.

As per the bank, Nabil iCard enables general customers with active Nabil savings/current accounts and PAN card to avail US Dollar Nabil iCard of up to USD 500 per year.

Earlier this week, the Nepal Rastra Bank (NRB) had issued a circular allowing banks to issue prepaid dollar cards with a maximum limit of $500 for easing the international payments to Nepali nationals. This enables Nepalis to  make purchase via global online platforms like Amazon, Netflix and others through a legitimate online medium.

However, any person, firm, company, or organization willing to get a prepaid card on foreign currency can get it by converting their existing fund in Nepali currency to the foreign currency from the banks, as per NRB.

As per the request of the applicant, an amount equal to $500 on the basis of exchange rate in the date of issue or the same amount on exchangeable foreign currency would be deposited in the card account.