What is Hello Paisa?
Hello Paisa is a shared platform for financial access that rides on the mobile phone network and allows member banks, their agents and customers to open accounts, save money and transact as well. For example, a customer could recharge their mobile phone, topup their Dish-Home account, transfer funds, undertake domestic remittance, etc.
How can I avail Hello Paisa services?
You require a mobile phone and an active SIM on it to avail Hello Paisa services. You can visit any of the member bank branches or their appointed agent location and provide your citizenship and a photograph after filling up a simple form. It is that simple.
What are the charges on Hello Paisa services?
There are no charges to avail Hello Paisa services. Account Opening, Deposit and Withdrawal are completely FREE! Various bill payments are free as well. Fund Transfers and domestic remittance can be done for a minimal charge that is much less than the prevalent market rates.
How big is the Hello Paisa network at present?
At present the network is eight banks with the service available across their 283 branches and more than 500 plus agents appointed by these banks. The service is already available across 65 of the 75 districts of Nepal. The service is expanding very fast and will soon be available across the whole nation.
How does Hello Paisa work?
It works through SMS and IVR communication. Customer sends an SMS to 3650 to provide their instructions to the system. The system calls them from 3650 where the customer confirms their instruction through the secret PIN. No transactions ever happen unless the customer confirms them by entering their PIN.
How safe is this Service?
This service works with the internationally accepted Two Factor security standard whereby a transaction is executed only when 1. It is received from the customer’s SIM registered with the system and 2. Customer’s secret PIN. This means, for somebody to misuse a customer account, he/she would require access to the customer’s SIM as well as the secret PIN.
What should I do if my Mobile Phone gets lost?
There is no reason to worry. No one will be able to transact on your account by simply having access to your mobile phone, unless they also know your secret PIN. Further, for customers’ security, system shall automatically block customer account after three consecutive wrong PIN entries. The account shall again be activated only when the customer him/herself visits a bank branch or an agent location with a written application to re-activate the account.
Still, to be further safe, customers are recommended to call at respective bank’s customer service department to block your account at such times. Such is subject to verification of your identity over the phone.
What is Hello Paisa Operator (HPO)?
Hello Paisa Operators are the authorized representatives appointed by the banks to provide branchless services to its customers in those areas where banks have no physical presence. Hello Paisa Operators need to follow certain rules and regulations as imposed by the bank.
What kind of services one can avail through these HPOs?
One can avail different services through Hello Paisa Operators like opening a Hello Paisa Account, deposit funds into the account, withdraw money from that account etc.
Is there any provision for the minimum balance to open a Hello Paisa Account?
Since Hello Paisa service is for all the people from all walks of life, one can open a Hello Paisa account free of cost at any partner bank counter or at Hello Paisa Operators. A customer can deposit even a very small sum of his/her daily savings into Hello Paisa account without any charge. Whereas, a customer may require maintaining a minimum balance on his/her account to be able to get the interest benefit provided by the bank/s. However, it is very low compared to other regular bank accounts.
I already have a bank account along with cheque books and an ATM card, why do I need a Hello Paisa Account?
It requires time and effort to visit the bank and get the banking service done which is in some cases very inconvenient and time consuming. However, with the help of Hello Paisa Service a customer can avail banking service at any time at any place with an ease. Since transactions are done in real-time and completed instantly, it would be a great advantage for a busy people like you.