Machhapuchchhre Bank Limited (MBL) has started branchless banking services in four different locations in Mustang with an aim to extend its service across the country.

The bank said in a statement that it has started the service at Marpha, Kagbeni, Lete, and Lo Manthang of Mustang district. These branchless banking units provide real-time transaction services to the users.

The bank said it has been providing banking service to its customers through its 86 branches, 2 extension counters, and 25 branchless banking services spread throughout the nation.

What is Machhapuchchhre Bank Branchless Banking?

In branchless banking, the bank appoints business correspondents known as agents, who perform transactions on behalf of the bank. The agents are provided with the POS machine and magnetic chip card for operation of banking transaction. Through these branchless banking units, Machhapuchchhre Bank is providing services like account opening, deposit collection, cash payment, remittance and accepting loan application.

Machhapuchchhre Bank is one of the first banks to partner with Khalti. You can load funds to Khalti via Machhapuchchhre eBanking and mobile banking service or cash deposit Khalti vouchers available at the branches of MBL all over Nepal, and make cashless payment for all the services available on Khalti’s platform.

Read also: Branchless Banking: Facilitating Financial Inclusion in Nepal