Nepal’s two leading digital wallets eSewa and Khalti sets daily/monthly limits and starts implementing service fees on daily money transfers of over Rs 100. Both companies have issued a notice announcing the news of the service charge implementation on their popular Send Money features.
With their decision, money transactions between eSewa to eSewa and Khalti to Khalti will now cost Rs 10 on over three transactions per day.
The move complies with the government’s new policy announced in FY 2081/82 which establishes the provision of commercial transactions made electronically or via QR codes.
According to the Finance Act for fiscal year FY 2081/82, no person can deposit any amount received by cash, cheque, QR code, or any other electronic means into a personal bank account for commercial transactions (P2P or peer-to-peer).
The budget for the FY 2081/82, mentions that “For transactions done via electronic means or QR code for commercial purposes, amount has to be deposited in the commercial account.”
Also read: Nepal’s top four digital wallets partner on a KYC campaign
Both eSewa Khalti sets service fees on transactions over Rs 100
eSewa said that the new money transfer fee came into effect from Shrawan 17, 2081 (August 01, 2024). The company also said that money transfer is free for three transactions daily and up to thirty times a month. Also, transactions below Rs 100 are free of any costs.
Khalti also said that its new standard tariff and service charge is implemented from the same date [Sharawan 17, 2081 (August 01, 2024)]. The company’s notice stated that transactions of money below Rs 100 are free, however, transactions over Rs 100 more than three times a day cost Rs 10. That means sending money on Khalti more than three times a day will cost Rs 10 per transaction. There is no additional fee to pay in merchant payments though.
Just like eSewa, Khalti also allows 3 times daily and 30 times monthly free money transfer facility. However, other digital wallets like IME Pay, Namaste Pay have not announced such limits and charges.
Check out: Latest limit in mobile banking, internet banking transactions in Nepal
Customers express their disapproval
The decision from the country’s two leading digital wallets regarding the Rs 10 fee has drawn criticism from the users. Many have taken to social media to express their disapproval of the new payment charge structure.
Both eSewa and Khalti are Nepal’s top digital wallets with over 8 million and 4 million users, respectively. Likely, the new standard tariff adjustment is going to affect the users.
Do you think the 3 cost-free transactions a day and 30 a month are enough for you? Or are you content with the implemented service fee? Do provide your feedback on this decision by eSewa and Khalti in our comment section below.
