Nepal Rastra Bank has, finally, approved online transactions the use of prepaid dollar cards. It had been brewing for some time. And we couldn't be happier that the day has finally arrived. As you may have guessed, the cap has been set at USD 500 per year. You may be wondering how to obtain dollar prepaid cards and what they can be used for. Don't worry, because that's exactly what we'll be discussing today. So, continue reading to learn how to obtain a dollar prepaid card in Nepal.

Where can I get a Dollar Prepaid Card in Nepal?

To begin, as previously stated, the dollar prepaid card you will receive from the bank will have a maximum annual limit of USD 500. This means that no more than USD 500 can be stored on that card or more than the amount mentioned during the whole year. In addition, you will also have to explain why you want the card.

The request for the card is quite easy. You can simply fill out the bank's counter form if you have a bank account in any class 'A' or class 'B.' However, the application for the card requires a PAN card and a KYC form.

Class A Commercial Banks in Nepal

Agriculture Development Bank	Himalayan Bank	Nepal Bank	Prabhu Commercial Bank
Bank of Kathmandu	Kumari Bank	Nepal Commerce and Credit Bank	Rastriya Banijya Bank
Century Commercial Bank	Laxmi Bank	Nepal Investment Bank	Sanima Bank
Citizens Bank International	Machhapuchchre Bank	Nepal SBI Bank	Siddhartha Bank
Civil Bank	Mega Bank	NIC Asia Bank	Standard Chartered Bank
Everest Bank	Nabil Bank	NMB Bank	Sunrise Bank
Global IME Bank	Nepal Bangladesh Bank	Prabhu Bank

Class B Development Banks in Nepal

 

 

Corporate Development Bank	Kamana Sewa Bikas Bank	Muktinath Bikash Bank
Excel Development Bank	Karnali Bikash Bank	Narayani Development Bank
Garima Bikas Bank	Lumbini Bikash Bank	Sahara Bikas Bank
Green Development Bank	Mahalaxmi Bikash Bank	Salapa Bikash Bank
Jyoti Bikas Bank	Miteri Development Bank	Saptakoshi Development Bank
Shangri-la Development Bank	Shine Rasunga Development Bank	Sindhu Bikas Bank

The charges for the prepaid card will vary depending on the bank. And the bank will most likely issue you a dollar card within 4-5 business days. However, some banks may offer instant cards. When you submit the form to the bank, the bank will create a linked dollar account for you. This is a separate account in which you will keep your cash in dollars and which will be linked to your main bank account. The bank will deposit your requested amount (up to USD 500) in that account using the exchange rate on the day you submitted the form.

What's the point?

Oh, there are so many. From paying for streaming services like Netflix, Amazon Prime Video, Spotify, Apple Music, content distribution platforms like Steam, or even purchasing goods from Amazon, and others, Nepal Rastra Bank's move opens up a plethora of possibilities. 

Also Read :

NOKIA LAUNCHES X-SERIES, G-SERIES AND C-SERIES IN NEPAL

G DIGITAL PRESENTS SPECIAL CASHBACK OFFER AND MORE FOR THE NEW YEARS

A NECESSITY FOR CHILDREN'S EDUCATION IN 2021: ACER CHROMEBOOK SPIN 11

GOOGLE’S UPCOMING AFFORDABLE PIXEL BUDS A LEAKED IN AN EMAIL PUSH

HOW TO SAFELY CLEAN YOUR TV