For accounts linked through self-verification, the bank will enable transactions of up to NRs. 1 lakh per day and NRs. 10 lakh per month. Such limits can later be increased to the maximum connectIPS limit via manual form-based approval.
ConnectIPS now supports self-verification for account connection and verification for 16 commercial banks, 6 development banks, and 1 finance firm. A few additional BFIs are also nearing the finish of the process of expanding this service. connectIPS has around 54 BFs as members on its network.
How do I connect and self-verify my NMB bank account in connectIPS?
- Link the desired bank account in connectIPS from “Link Account” option.
- Select the “Self-Verify Account” optionunder “Manage Account” section.
- Enter the OTP(One Time Password) sent by the bank to the registered mobile number.
- Enter twomicro payments deposited at your bank account (intended for linking).
- The linked account can now be used from connectIPS mobile app and web application.
The customer must check that the mobile number used in connectIPS matches the one provided by the bank. The transaction limit provided for such self-verified accounts will be determined by the bank and may differ between banks.