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ConnectIPS Terms and Conditions and Limits

  1. By requesting any transfer of funds the customer agrees that such transfer shall be subject to these terms and condition. The performance of this contract mentioned herein by Standard Chartered Bank Nepal Limited ( referred herein after as the “ Bank” ) is subject to all regulations, decrees, administrative rules orders and circulars of Nepal Rastra Bank and of other competent authorities now or hereinafter affecting the same, and any events beyond the control of branch of the bank including but not limited to war, political disturbance, civil disorder or expropriation. If for any of the aforementioned reasons any customer or counterparty suffers any loss or damage or incurs any cost or expenses, this branch of the Bank including the principal Office and other branches, subsidiaries and affiliates of the Bank shall not be responsible for the same.
  2. The Bank accepts for transmission only and at the customer’s risk, items not payable at this branch of the Bank. The Bank will not be responsible for any losses or delay which may be caused by causes beyond its control nor for any act, omission, neglect, default, failure or insolvency of any correspondents, agents or subagents or of it’s own or their employees.
  3. The Bank accepts for transmission only as per the payment/fund transfers for the threshold amount as prescribed by the regulator for connectIPS-NCHL and/or threshold defined by the Bank.
  4. The Bank accepts to provide payment/fund transfer service in NPR or any other currency as approved by NRB. The exchange rate applied by the Bank (if applies) to convert into Foreign Value/Local Value of the customer’s funds received by the Bank is deemed to be acceptable by the Customer.
  5. All connectIPS payments/transfers are subject to applicable charges as per the charges prescribed by the regulator and the Bank’s schedule of charges as revised from time to time. Such charges may be directly debited by the Bank from the relevant customer’s account.
  6. The customer hereby waives any and all claims s/he may have against the Bank which arise from or relate to the funds transfer requested by the customer, which is subject to these terms unless such claim arises from the fraud or wilful default of the Bank.

 

Fund transfers limits:

Per transaction: NPR 5,00,000.00/-

Per day: 1,000,000.00/-

Per month: 3,000,000.00/-

Maximum number of transactions per day: 5