Citizens Bank has launched a cross-bank teller QR transaction service for the first time in Nepal. Celebrating its 18th anniversary, the bank launched the inter-bank transaction service to provide customers with a flexible cash withdrawal facility.
The service lets bank users draw cash at Citizens Bank branches across Nepal. The bank launched the innovative service under the slogan of “Brick Banking to Click Banking.”
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What is the cross-bank teller QR transaction service?
The cross-bank teller QR transaction is a type of service that allows customers of a bank to withdraw cash at Citizens Bank with the help of a mobile banking app. To further illustrate, it allows mobile banking app users of any bank in Nepal to deposit and withdraw electronically at Citizens Bank with a QR scan and receive the cash.
For e.g., if you are using a mobile banking app of another bank and you need cash. Suppose you want to make a withdrawal from a Citizens Bank branch. Then, you can simply visit the branch, scan a QR, deposit the amount, and receive the cash. The cross-bank teller removes the need to use cheques or ATM cards to withdraw cash.
But make sure that you use a mobile banking app of your bank (which is presumably a non-Citizens Bank app).
Citizens Bank also launched Tap & Pay and Freelancer Savings Account
At the same time, the bank also launched a Tap & Pay service, which is available on the Citizens Mobile Banking app. The bank says that the service allows users to make payments of up to Rs 5,000 offline.
In addition, the bank has launched a freelancer Savings Account as well, which is catered to freelancers to serve their needs for financial services. The service allows customers to open their bank accounts with both Nepali and USD currencies.
Further, the savings account includes health insurance of up to Rs 25,000 in the first year (OPD of up to Rs 5,000), death insurance of up to Rs 300,000, and free mobile and internet banking, demat account facilities, etc.