International Prepaid Dollar Card in Nepal | Things you must know

You know how we couldn't make international transactions with our own bank account here in Nepal? Now we finally have Dollar card in Nepal !

Table of Contents

These are the topics covered in this article.

S.N	Content
1.	What is a Dollar Card?
2.	Use of Dollar Card in Nepal
3.	Limitations
4.	Which banks provide Dollar card ?
5.	How to get a dollar card ?
6.	What are the charges?
7.	How can I check available balance in my card?

What is a Dollar Card?

Dollar card is an internationally accepted visa prepaid card linked to your own bank account. It is a prepaid card which means you need to load cash into your card before spending. Now consumers here can pay for over-the-top (OTT) platforms like Netflix, Amazon Prime, Spotify and other international digital services. 

For a long time, consumers in Nepal have had to rely on middlemen to purchase goods and services from international channel bearing the risk of fraud. But, after NRB (Nepal Rastriya Bank) approved the dollar card, not only has it made international transactions easy but also helped the community of online professionals like freelancers who needed access to international digital services and products.

Use of Dollar Card in Nepal

Well, the dollar card can be used however you want as allowed by the law. Some popular ways to use it are for purchasing video streaming services like Amazon prime, Netflix etc. or purchasing games from Steam, Epic Games. The dollar card can even be used for promoting YouTube videos using google ads. 
 

Limitations

There are some restrictions to the use of this card brought up by NRB.
• Only USD 500 can be used per year for various digital transactions.
• One consumer can only acquire one payment card and they are allowed to purchase the services allowed by law. The consumer must verify their know your customer (KYC) and Permanent Account Number (PAN) number to get the card.

Guidelines from NRB also says that if one can generate foreign income of at least double the card amount of USD 500, additional funds can be added to the card.
The existing amount in your bank can also be converted into foreign currency for international payment.

Which banks provide Dollar card ?

As per the provision of NRB, "A" class and "B" class banks have started issuing dollar card. As of now, 11 banks are providing/issuing the card.

NMB Bank (NMB Dollar Card), Siddhartha Bank (Siddhartha eCom Card), Nepal Investment Bank (NIBL vPrepaid International Card), Sunrise Bank (Sunrise E-Card), Nabil Bank (Nabil iCard), Mahalaxmi Bank (Mahalaxmi Dollar Card), Machhapuchchre Bank (Machapuchchre Dollar Card), Global IME Bank (Global E-com Card), Himalayan Bank (HBL Dollar Prepaid Card), Kumari Bank (Kumari $eCom Card), Prabhu Bank (Prabhu 500 Card). 

How to get a dollar card ?

To get a dollar card,

1. Fill up a form for dollar card at one of the above mentioned banks.
2. Open an account at one of them if you don't have one.
3. Submit your KYC form and PAN number.  
4. After you fill up all of the above mentioned details, you should get your card within 4-5 working days.

What are the charges? 

Depending upon the banks, the charge for the dollar card will vary. And there is no limitation on the minimum amount to be loaded in the card. However, there is a amount loading fee which is Rs. 500 which means customers will have to pay this charge every time they load money. Some banks do not charge for first load.

How can I check available balance in my card?

To check your balance in your dollar card, you will need to activate mobile banking for your account and using the app for your respective bank, you can check balance in your bank account as well as your dollar card. 

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