Kathmandu. The integrated directive issued to the banks and financial institutions has clearly made provisions regarding the fees to be levied while opening and closing the bank accounts.
Customers are curious about the fees charged while opening or closing accounts with banks and financial institutions. Nepal Rastra Bank (NRB) has issued an integrated directive in this regard. In the same provision, it has been clarified whether the banks and financial institutions can take fees from the customers while opening or closing the account.
Here are the arrangements
a) No service charge shall be charged from the customers while opening an account, issuing cheques (including Good for Payment Cheque), making stop payment of cheques, verifying the balance certificate, operating the account, closing the account, issuing statements, depositing remittance amount to the account, providing ABBS and other services. However, if the customer has asked for the statement of any one period more than once, then the minimum fee will not be deemed to be a hindrance.
b) No fee will be charged for activating the customer’s inactive account.
c) In any case, the amount of the account is less than the minimum stock, so the amount cannot be deducted and the reserve cannot be reduced. In addition, fixed interest should be provided on the amount kept as minimum deposit.
Except in the case of clauses (a), (b) and (c), the customer should be fully informed regarding the fees to be charged from the customer.
e) No renewal fee shall be charged until the expiry of such cards, except the initial fee charged in the case of the issuance of electronic cards in Nepalese currency.
