How to get a dollar prepaid card in Nepal

How to get a dollar prepaid card in Nepal

Finally, the Nepal Rastra Bank has allowed prepaid dollar cards to be used for internet purchases. It's been on the way for quite some time. And we couldn't be happier that the day has finally arrived. As you may have seen by now, the cap has been set at USD 500 for the entire year. You're undoubtedly curious about where to get dollar prepaid cards and what you can do with them right now. Don't worry, we're going to talk about purpose today. So, if you want to learn how to obtain a dollar prepaid card in Nepal, keep studying.

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How to get a Dollar Prepaid Card in Nepal?

First and foremost, as previously stated, the bank's dollar prepaid card would have a maximum limit of USD 500 per year. That implies you can't hold more than USD 500 on the card, and you can't use more than that amount in a single year. You'll also need to explain why you desire the card in the first place.

The application process for the card is quite simple. You may simply fill out a form at the bank's counter if you have an account with any class "A" or "B" bank. However, in order to apply for the card, you must have 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 Shangri-la Development Bank
Excel Development Bank Karnali Bikash Bank Narayani Development Bank Shine Rasunga Development Bank
Garima Bikas Bank Lumbini Bikash Bank Sahara Bikas Bank Sindhu Bikas Bank
Green Development Bank Mahalaxmi Bikash Bank Salapa Bikash Bank
Jyoti Bikas Bank Miteri Development Bank Saptakoshi Development Bank


The costs for the prepaid dollar card will vary depending on the bank. And the bank will most likely provide you a dollar card within 4-5 business days. Some banks, on the other hand, may provide immediate cards.

Dollar prepaid cards may only be used to make online purchases. And that too on those sites that allow payment in USD (or any similar currencies) (or other equivalent currency). Not to mention, by filling out a document at the bank, you can transfer the dollar amount from your connected account to the main account, i.e. the NPR account.

In Nepal, the following banks have already begun to provide this service:
  • Global IME Bank: Global E-com Card
  • Himalayan Bank: HBL Dollar Prepaid Card
  • Kumari Bank: Kumari $eCom Card
  • Machhapuchchre Bank: Machhapuchchre Dollar Card
  • Mahalaxmi Bikas Bank: Mahalaxmi Dollar Card
  • Nabil Bank: Nabil iCard
  • Nepal Investment Bank: NIBL Prepaid International Card
  • NMB Bank: NMB Dollar Card
  • Prabhu Bank: Prabhu 500 Card
  • Siddhartha Bank: Siddhartha eCom Card
  • Sunrise Bank: Sunrise E-card

What’s the use?

Oh, so many. From paying for streaming services like Netflix, Amazon Prime Video, Spotify, Apple Music, content distribution platforms like Steam, or even buying goods from Amazon, Newegg, etc. this move from Nepal Rastra Bank opens up so many avenues. And if it wasn’t already obvious, you’re not allowed to buy any goods/services deemed illegal by the Nepal government.

For now, USD 500 might not seem like a significant amount, however, it is just the beginning. And the signs seem positive. Hopefully in the future things will improve significantly.

How to Secure Prepaid Dollar Card From Misuse?


Frequently Asked Questions

Technical

Which bank is best for a dollar card in Nepal?

➤ As far as I'm aware, the best alternatives for you to obtain a dollar prepaid card are NMB Bank and NIC Asia Bank.

What is a prepaid dollar card?

➤ It is a prepaid card, similar to a debit card, provided by A-class commercial banks and B-class development banks, that may be used to make payments in convertible foreign currency equal to USD 500 for online goods and services purchasing.

What is a dollar card for?

➤ These dollar cards will only be able to be used to make foreign payments for goods and services purchased online. These cards aren't allowed to be used for transactions that result in a profit. These cards can't be used to withdraw money from ATMs or POS terminals, either.

Billing

Can I create and connect my dollar prepaid card in PayPal from Nepal?

➤ You can open a PayPal account in Nepal, but you won't be able to link a dollar prepaid card to it.

Can we withdraw money from my dollar prepaid card?

➤ A dollar prepaid card cannot be used to withdraw money.

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