International Payment is now possible to spend up to 500 US dollars a year by purchasing foreign goods and services online. The same amount can be spent by purchasing a credit card from one of the country's banks.
Dollars can now be paid from Nepal for various websites such as Amazon and Netflix, as well as other foreign shopping. Nepal Rastra Bank (NRB) has confirmed that even if you do not have a dollar account, you can pay up to $500 USD per year by using a prepaid card from a 'A' or 'B' class bank.
Until now, only a dollar account could be used to make foreign payments. According to the NRB, the new agreement was put in place after there was trouble paying the sum due to the importation of foreign services and goods.
Furthermore, commercial banks and development banks will be able to issue 500-dollar prepaid cards to customers. That allows for the payment of social media and other online transactions in dollars.
Such a card can be issued by depositing Nepali Rupees into the bank account of the person, firm, company, or organization that wishes to obtain a prepaid card in convertible foreign currency. When the card is released, the concerned user's customer identification details should be updated, and the concerned user should have a permanent account number.
For a long time, there have been concerns about issues with social media and other online payments. Keeping this in mind, the NRB has adopted the new method.
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