Nepal Credit Card and ATM

A credit card is part of a system of payments named after the small plastic card issued to users of the system. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. A credit card is different from a charge card, which requires the balance to be paid in full each month. In contrast, credit cards allow the consumers to 'revolve' their balance, at the cost of having interest charged. Most credit cards are issued by local banks or credit unions, and are the same shape and size, as specified by the ISO 7810 standard.

In Nepal Credit Card Bank
Himalyan Bank
Karmachari Sanchaya Kosh Building, Tridevi Marg, Thamel, P.O. Box 20590, Kathmandu, Nepal. Telephones : 4227749, 4250201 Telefax : 977-1-4222800 Telex : 2789 HIBA NP, Swift HIMANPKA Email : himal@hbl.com.np http://www.himalayanbank.com/contents/contents.php?PageID=branch_ho
Board Directors
Mr. Manoj B. ShresthaChairman Mr. Ashraf M. WathraFirst Vice Chairman Mr. Prem P.KhetanSecond Vice Chairman Mr. Prachanda B. ShresthaDirector Mr. Bijay B. ShresthaDirector Dr. Ramesh K. BhattaraiDirector Mr. Amar S. RanaDirector Mr. Upendra Keshari PoudyalProfessional Director Mr. Himalaya S. RanaChief Advisor to the Board Mrs. Ranjana ShresthaAlternative Director Mr. Surendra SilwalAlternative Director Ms. Menuka ShresthaAlternative Director Mr. Gyem Raj AdhikariCompany Secretary

Investment Bank
Nepal Investment Bank Ltd.Durbar Marg, P.O. Box: 3412Kathmandu, NepalTel: (977-1) 4228229, 4242530Fax: (977-1) 4226349, 4228927E-mail: info@nibl.com.npwww.nibl.com.np , www.nibl.com.np

Board Directors
Mr. Prithivi Bahadur Pande Chairman/Chief Executive Director Mr. Prajanya Rajbhandari Director Group "A Mr. Deepak Man Serchan Director Group "A Mr. Krishna Prasad Sharma Director Rastriya Banijya Bank Mr. Rajesh Rajkarnikar Director Rastriya Beema Sansthan Mr. Surendra Bdr. Singh Director Public Shareholder Mr. Damodar Prasad Sharma Pandey Professional Director Under BFIA

Nabil Bank
Head Office Nabil House, Kamaladi, KathmanduP.O. Box: 3729, KathmanduPhone: 4430425, 4429546-47, 4435380-85Telex: 2385 NABIL NP, 2431 NABILH NPFax: 4429548SWIFT: NARBNPKAWeb Address: www.nabilbank.com
Board of Directors
1. Mr. Satyendra Pyara Shrestha Chairman 2. Mr. A.P. Bazgain (Professional) Director 3. Mr. Dayaram Gopal Agrawal Director 4. Mr. Milan Bikram Shah Director 5. Mr. Mohiuddin Ahmed Director 6. Mr. Shambhu Prasad Poudyal Director 7. Mr. Supriya Gupta Director 8. Mr. Tabith Awaal Director

Globel Bank
Contact
Head OfficeBirgunj Branch, AdarshanagarBirgunj - 13, ParsaP.O. Box: 45, NepalTel: 977 051 530337Fax: 977 051 530339 E-mail: info@globalbank.com.npToll Free No: 16600 12 14 http://www.globalbanknepal.com/contact.php
Corporate OfficeKantipath Branch, KathmanduP.O. Box: 19327, NepalTel: 977 1 4231198Fax: 977 1 4231057
Board of Directors:
Mr. Chandra Prasad DhakalMr. Krishna Bahadur Kunwar Mr. Sandeep AgarwalMr. Dhan Bahadur Sherchan Mr. Jeevan Man Joshi -

Standard Chartered Bank
Mr. Sujit Mundul Chief Executive Officer Phone : (977-1) 4783304 Fax: (977-1) 4780314 Mr. Diwakar Poudel Head Corporate Affairs Phone: (977-1) 4782333 Fax: (977-1) 4780762
Standard Chartered Bank Nepal Limited PO Box 3990 Kathmandu, Nepal http://www.standardchartered.com/np/home/aboutus.html

How credit cards work
The length of this article or section may adversely affect readability.Please discuss this issue on the talk page, split the content into subarticles, and keep this page in a summary style. Credit card An example of the front in a typical credit card: Issuing bank logo EMV chip Hologram Credit card number Card brand logo Expiry Date Cardholder's name An example of the reverse side of a typical credit card: Magnetic Stripe Signature Strip Card Security Code Credit cards are issued after an account has been approved by the credit provider, after which cardholders can use it to make purchases at merchants accepting that card.

When a purchase is made, the credit card user agrees to pay the card issuer. The cardholder indicates his/her consent to pay, by signing a receipt with a record of the card details and indicating the amount to be paid or by entering a Personal identification number (PIN). Also, many merchants now accept verbal authorizations via telephone and electronic authorization using the Internet, known as a 'Card/Cardholder Not Present' (CNP) transaction.
Electronic verification systems allow merchants to verify that the card is valid and the credit card customer has sufficient credit to cover the purchase in a few seconds, allowing the verification to happen at time of purchase. The verification is performed using a credit card payment terminal or Point of Sale (POS) system with a communications link to the merchant's acquiring bank. Data from the card is obtained from a magnetic stripe or chip on the card; the latter system is in the United Kingdom and Ireland commonly known as Chip and PIN, but is more technically an EMV card.

Other variations of verification systems are used by eCommerce merchants to determine if the user's account is valid and able to accept the charge. These will typically involve the cardholder providing additional information, such as the security code printed on the back of the card, or the address of the cardholder.
Each month, the credit card user is sent a statement indicating the purchases undertaken with the card, any outstanding fees, and the total amount owed. After receiving the statement, the cardholder may dispute any charges that he or she thinks are incorrect (see Fair Credit Billing Act for details of the US regulations). Otherwise, the cardholder must pay a defined minimum proportion of the bill by a due date, or may choose to pay a higher amount up to the entire amount owed. The credit provider charges interest on the amount owed (typically at a much higher rate than most other forms of debt). Some financial institutions can arrange for automatic payments to be deducted from the user's bank accounts, thus avoiding late payment altogether as long as the cardholder has sufficient funds.

Interest chargesCredit
card issuers usually waive interest charges if the balance is paid in full each month, but typically will charge full interest on the entire outstanding balance from the date of each purchase if the total balance is not paid.

For example, if a user had a $1,000 transaction and repaid it in full within this grace period, there would be no interest charged. If, however, even $1.00 of the total amount remained unpaid, interest would be charged on the $1,000 from the date of purchase until the payment is received. The precise manner in which interest is charged is usually detailed in a cardholder agreement which may be summarized on the back of the monthly statement. The general calculation formula most financial institutions use to determine the amount of interest to be charged is APR/100 x ADB/365 x number of days revolved. Take the Annual percentage rate (APR) and divide by 100 then multiply to the amount of the average daily balance (ADB) divided by 365 and then take this total and multiply by the total number of days the amount revolved before payment was made on the account. Financial institutions refer to interest charged back to the original time of the transaction and up to the time a payment was made, if not in full, as RRFC or residual retail finance charge. Thus after an amount has revolved and a payment has been made, the user of the card will still receive interest charges on their statement after paying the next statement in full (in fact the statement may only have a charge for interest that collected up until the date the full balance was paid...i.e. when the balance stopped revolving).[1]

The credit card may simply serve as a form of revolving credit, or it may become a complicated financial instrument with multiple balance segments each at a different interest rate, possibly with a single umbrella credit limit, or with separate credit limits applicable to the various balance segments. Usually this compartmentalization is the result of special incentive offers from the issuing bank, to encourage balance transfers from cards of other issuers. In the event that several interest rates apply to various balance segments, payment allocation is generally at the discretion of the issuing bank, and payments will therefore usually be allocated towards the lowest rate balances until paid in full before any money is paid towards higher rate balances. Interest rates can vary considerably from card to card, and the interest rate on a particular card may jump dramatically if the card user is late with a payment on that card or any other credit instrument, or even if the issuing bank decides to raise its revenue.