How can I set up a connectIPS account and link it to a bank account?

 ConnectIPS has grown to be one of the most widely used e-payment solutions in Nepal among bank customers for quick and simple financial transfers and bill/service payments using a mobile app or online banking. Here is a comprehensive instruction for setting up a connectIPS account and connecting it to your bank account.

Describe connectIPS.

connectIPS is an e-Payment system that enables you to conduct payment transactions directly from the bank account using a variety of media, including a mobile app, the Internet, etc. This is a 24 hour service that employs direct bank account transfers that take place very quickly for both the sender and the recipient. Given that it operates under the direction of the Nepal Rastra Bank, it is highly dependable.

You can link one or more bank accounts with connectIPS and then use one of those accounts to make payments. This can be used for biller/service payments, fund transfers, travel and tour bookings, school and college fees, air travel, insurance, utilities, and other e-commerce website related payments.

Advantages of utilizing connectIPS:

Federal payments (Tax, Loksewa, Passport, etc.)

Online Credit Card Bill Payments via Fund Transfer

Always-on mobile wallet top-up service

dependable and immediate

increased transactional limits of up to Rs. 2,000,000

various channels, including mobile apps, web portals, and gateways

How does it differ from apps like eSewa, Khalti, etc. that act as mobile wallets?

Unlike mobile wallets like eSewa, Khalti, and others where you must load/unload funds for payment transactions, connectIPS does not require this. While a bank account that is connected to connectIPS handles payment transactions directly. Additionally, it can be used to add and remove money from these wallets.

You can use the web channel to make a single payment of Rs. 1,000,000, and the mobile app to make a single payment of Rs. 100,000. The daily cap per bank, however, is Rs. 200,000 using the mobile app and Rs. 2,000,000 through the web channel.

Here are the steps for creating a connectIPS account and connecting it to a bank account.

How do I set up a connectIPS account and connect it to my bank account?

Both a web site and a mobile application make it simple to create a connectIPS account and connect it to your bank account. Both Android and iOS users can download the connectIPS App. Here, I've created a connectIPS account via the mobile app. But from here, you may also access a web portal.

Visit the connectIPS Web Portal by clicking here.

Both the mobile app and web portal processes are very similar. Therefore, you are free to use any of them for this purpose. In order to create a connectIPS account and connect it to my bank account for this article, I used a mobile app.

To create a connectIPS account and connect it to a bank account, adhere to following steps:

1. Download the Connect IPS app, install it, and then select "Create New."

2. Fill out the form and choose a username and password. Accept the terms and conditions to begin.

Information needed to create an account with connectIPS

Name, mobile number, email address, district, and unique username and password

Code of Referral (If available)

Because I'm creating a connectIPS Account directly, I've omitted the referral code option in this instance. In the event that you have a referral code from friends or family, submit it here.

3. Log into connectIPS by providing your username and password.

After you have logged in to your connectIPS app you have to complete 4 simple steps i.e., Security, Verification, Transaction and Linking your Bank. Follow the above steps to proceed.

4. After choosing the picture, give it a name. Complete your security verification by providing your preferred answers to each of the Security Questions.

Remember these 3 Security Questions and Answers while enrolling in the course. The same questions will be asked again to confirm your identity before allowing the login password to be changed.

5. Click on Mobile Verification and enter the OTP code received on your mobile for verification.

6. Click on Email Verification and enter the OTP code received in your email for verification.

7. Create your Transaction Password and set the Transaction Limit by verifying OTP.

8. Enter the Account Information to link your bank account.

Information’s Required:

• Nick Name
• Account No.
• Account Name
• Bank Name
• Branch Name

Note: There are different banks that provide different option to link bank account with connectIPS. You will be notified for further process through your email or SMS for account verification and activation process.

In my case, Nabil bank Account was verified through a self-verification link. While for NIC Aisa bank I was asked to go to the bank/branch counter for account verification and activation process. Whatsoever be the case, you will be notified through SMS or Email from Connect IPS.

Click Here to see the list of banks with Self Verification Feature.

9. Verify your Account following the guidelines asked by connectIPS.

This is all about creating connectIPS account and linking it with bank account. I hope this article have been helpful for you. Feel free to comment if you have any queries in the comment section. I will explain the further details about connectIPS transaction process in my upcoming article. Stay tuned for that.