Many people in Nepal search for information about cash withdrawal limit in Nepal when they need to withdraw large amounts of money. Whether you’re planning a big purchase, paying for a wedding, or handling an emergency, understanding these limits helps you plan better.
The Nepal Rastra Bank (NRB) sets rules for how much cash you can withdraw from banks and ATMs. These rules apply to all commercial banks in the country. This guide explains everything in simple terms.
What Does Cash Withdrawal Limit Mean?
A cash withdrawal limit is the maximum amount of money you can take out from your bank account in a single day or month. Banks use these limits for two main reasons.
First, they help prevent fraud and money laundering. Second, they ensure banks have enough cash available for all customers. These limits protect both you and the banking system.
Daily Cash Withdrawal Limit Nepal: ATM vs Bank Counter
The daily cash withdrawal limit Nepal varies depending on where you withdraw money. Let’s break this down clearly.
ATM Cash Withdrawal Limit Nepal
Most banks in Nepal allow you to withdraw between Rs. 25,000 to Rs. 50,000 per day from ATMs. However, this amount can differ from bank to bank.
For example, some banks set their limit at Rs. 30,000 daily. Others may allow Rs. 40,000 or even Rs. 50,000. The exact amount depends on your bank’s policy and your account type.
Additionally, there’s usually a limit on how many transactions you can make per day. Most banks allow 3 to 5 ATM withdrawals daily.
Bank Counter Withdrawal Limits
When you withdraw cash directly from a bank counter, the limits are usually higher. Most banks allow withdrawals up to Rs. 2 lakhs per day at the counter.
However, some banks may ask questions if you withdraw very large amounts. This is normal. They do this to comply with anti-money laundering regulations.
For withdrawals above Rs. 10 lakhs, banks might ask you to inform them in advance. This helps them arrange enough cash for you.
Monthly Cash Withdrawal Limits in Nepal
The bank cash withdrawal limit Nepal also applies on a monthly basis. Most banks don’t have strict monthly limits for regular accounts.
However, the NRB monitors large cash transactions. If you withdraw more than Rs. 10 lakhs in cash within a month, your bank must report this to the central bank.
This doesn’t mean you can’t withdraw larger amounts. It simply means the transaction will be recorded for regulatory purposes. As a result, banks keep track of your withdrawal patterns.
ATM vs Bank Counter: What’s the Difference?
Understanding the difference between ATM and counter withdrawals helps you plan better. Here’s a quick comparison.
ATM Withdrawals
ATMs are convenient for smaller amounts. You can withdraw money anytime, even outside banking hours. However, the daily limit is lower, typically Rs. 25,000 to Rs. 50,000.
Meanwhile, you might also face fees if you use other banks’ ATMs. Most banks offer 3 to 5 free transactions at other ATMs per month.
Bank Counter Withdrawals
Bank counters allow much higher withdrawals. You can take out Rs. 2 lakhs or more in a single day. However, you must visit during banking hours.
On the other hand, counter withdrawals take more time. You need to fill out withdrawal slips and wait in line. For very large amounts, you might need to inform the bank beforehand.
Why Does Nepal Have Cash Withdrawal Limits?
The maximum cash withdrawal Nepal rules exist for several important reasons. Understanding these helps you see why limits are necessary.
Preventing Financial Crimes
First, withdrawal limits help prevent money laundering and fraud. By monitoring large cash movements, banks can spot suspicious activities. This protects the financial system and honest customers.
Maintaining Cash Flow
Banks need to ensure they have enough physical cash for all customers. Therefore, limits help them manage their cash reserves properly. Without these rules, a few large withdrawals could empty a branch.
Encouraging Digital Payments
The NRB also wants to promote digital transactions. Because of this, they encourage people to use bank transfers and digital wallets for large payments. This makes the economy more transparent and efficient.
Security Concerns
Carrying large amounts of cash is risky. Withdrawal limits indirectly protect you from theft and loss. Banks encourage safer alternatives like checks or bank transfers for big transactions.
What Happens If You Need More Cash?
Sometimes you might need to withdraw more than the daily limit. Here’s what happens in different situations.
Exceeding ATM Limits
If you try to withdraw more than your ATM cash withdrawal limit Nepal, the transaction will be declined. The ATM will show an error message. However, you can make another withdrawal the next day.
Large Counter Withdrawals
For large withdrawals at the counter, you have options. First, inform your bank a day or two in advance. This gives them time to arrange cash.
Second, you can withdraw the maximum daily amount for consecutive days. For example, if you need Rs. 4 lakhs, you can withdraw Rs. 2 lakhs for two days.
Alternative Solutions
Banks prefer you use other payment methods for large amounts. They might suggest a pay order, bank draft, or direct transfer instead. These options are safer and more convenient.
Practical Tips for Managing Large Cash Needs
Here are simple ways to handle situations when you need significant amounts of money.
Plan Ahead
If you know you’ll need large cash amounts, inform your bank early. Give them at least 2-3 days notice. This ensures they have enough cash ready.
Use Digital Alternatives
For payments to businesses or individuals, consider bank transfers. Most banks offer free or low-cost online transfers. This is safer than carrying cash.
Split Your Withdrawals
Instead of withdrawing everything at once, spread it over several days. This works well if your need isn’t urgent. As a result, you stay within daily limits without hassle.
Consider Multiple Accounts
Some people maintain accounts at different banks. This gives you access to multiple ATM withdrawal limits if needed. However, manage this carefully to avoid confusion.
Keep Your Bank Informed
Maintain good communication with your bank. If you regularly need larger amounts, discuss your account type. Premium accounts sometimes offer higher limits.
Conclusion
Understanding the cash withdrawal limit in Nepal helps you manage your finances better. Most banks allow Rs. 25,000 to Rs. 50,000 daily from ATMs and up to Rs. 2 lakhs from counters.
These limits exist to protect the banking system and prevent financial crimes. When you need larger amounts, plan ahead and inform your bank. Meanwhile, consider using digital payment methods for safety and convenience.
Finally, remember that limits can vary between banks. Always check with your specific bank for accurate information about your account. This ensures you’re never caught off guard when you need cash.