ConnectIPS has become extremely popular these days. Self-verification is a process that allows you to avail all interbank payment system via online means. There are many commercial banks, financial institutions and finance companies in this robust system.
Self-verification us a process that allows you to add bank account to your connectIPS account. This is easy.
With Nepal facing many episodes of lockdown and restrictions on getting to banks, this process allows solution of your problems.
How to do connectIPS self-verification ?
After logging in your connectIPS account, go to bank account on your dashboard. Submit all details and click on ‘send for approval’.
Now re-check the details and click on ‘self-verify account’. Then, enter the OTP on your mobile and submit after reading terms and conditions.
After this, your status changes from “PENDING” to “AUTOACCEPTAPPROVAL”
Then, connectIPS will send you two micro micropayments, which you will have to enter sequentially and submit.
Once connectIPS verifies the above process, your status will change from “AUTOACCEPTAPPROVAL” to ‘ACCEPTED’
As of this writing, a total of 17 commercial banks are providing this feature. This are listed below.
17 Grade A Commercial Banks
#1 Nabil Bank Limited
If you are one of the customers of the Nabil Bank, you can enjoy this feature. After connectIPS accepts your request, you will be able to trade 100 thousand daily and 1 million Nepalese rupees monthly.
#2 NIC ASIA Bank Limited
Another market giant, NIC ASIA Bank Limited allows you for this self-verification feature. It also has advantage of trading 200 thousand daily and 1 million monthly.
# 3 NMB Bank Limited
NMB bank recently started this facility. However, the daily limit is similar to that of NABIL Bank
#4 Everest Bank Limited
Everest Bank Limited (EBL) has given this facility since a long time. You can trade up to 1 lakh daily and 10 lakhs monthly using this portal.
#5 Nepal Bank Limited
The oldest Bank in the country, Nepal Bank has provided connectIPS self-verification service to its customers for a long time. Enjoy this service amidst this lockdown.
Bank of Kathmandu (BOK) is also providing its customers the benefit of self-verification of connectIPS. If you have an account at BOK, but no connectIPS, its high time you have it on your fingertips.
#7 Machhapuchchhre Bank Limited
The premier bank (MBL), originally from Pokhara, also has this great feature for its customers. If you are a customer of MBL, all you need is to have a connect-IPS account. The daily trade limit is 1 million NPR and monthly trade limit is 5 million. Enjoy!
#8 Himalayan Bank Limited
HBL also provides its customers an ability to self-verify their connectIPS account. This will be also available to NIBL customers as these two have merged. Himalayan and Nepal Investment Bank Limited is now the largest bank in the country. Tune into us to know about these details. At the meantime, do enjoy connectIPS, if you have not done it. Additionally, you get to trade 1 million daily and 5 million monthly if you have both HBL and connectIPS.
Global IME Bank Limited also allows for connectIPS self-verification. The limit for trading is similar to that of Everest Bank Limited.
With this feature to its customers, Mega Bank allows daily and monthly transaction similar to that of Global IME Bank. Just register, add and start leveraging the service.
#11 Nepal Bangladesh Bank Limited
Nepal Bangladesh Bank, NBB is also encouraging its customers to use connectIPS self- verification option. And, it has given the highest trade limit to its customers. One can trade up to 1 million daily and 5 million monthly with connectIPS after self-verification.
#12 Laxmi Bank Limited
Another A grade commercial bank, Laxmi Bank also allows its customers to self-verify their connectIPS account. Plus, it also allows trade similar to NBB and HBL.
#13 Century Commercial Bank Limited
CCB has been providing connectIPS self-verification since a lot of time. The trade after this process is similar to that of Laxmi Bank Limited.
#14 Another commercial bank of Nepal, Civil Bank Limited is also providing its customers self-verification with connectIPS. The daily trade limit is 100 thousand and monthly limit is 1 million Nepalese rupees.
#15 Sanima Bank Limited
This bank also facilitates its customers with connectIPS self-verification. The daily and monthly trade limit are similar to Civil Bank Limited.
#16 Prime commercial bank limited (PCBL)
You can also enjoy self-verification of your connectIPS account if you are a customer of PCBL. The daily and monthly trade limit after self-verification are 100 thousand and 1 million respectively.
This completes our list of grade A commercial banks in Nepal, that allow its customers self-verification in the connectIPS system.
5 FAQs regarding connectIPS self-verification
1. What is self-verification?
It is an online facility provided by your financial institution and connectIPS to verify yourself without being present at bank and start using the fabulous interbank payment system
2. What are the pre-requisites?
You must be a valid account holder of the above banks and finance companies to avail this service.
Secondly, your mobile number both at bank and connectIPS service should be similar. In case of discrepancy, change the mobile number at your bank. On the other hand, changing mobile number in connectIPS is easy.
3. What is microdeposit?
Microdeposit is a verification method that connectIPS uses for self-verification. Two small deposits are done in your account once you initiate the process of self-verification. You will need to verify both of these transactions during the self-verification process. connectIPS provides three days for this process. Isn’t that great?
4. What is difference between bank-verification and self-verification?
Bank verification requires your self-presence with an identity card while self-verification is an online process. With bank verification, you can have transaction up to 1 million daily from the web application and 100 thousand from the mobile application. However, after self-verification you may have some restrictions. We have included these limits above as well as in table below.
5. Which browser to use while doing connectIPS self-verification?