Can I use MasterCard in Nepal? :- When you have an international credit card, you can use it both in your own country and abroad. While talking about if it can be used in Nepal or not then you may be confused about that. This article holds your answer.
MasterCard can be used in some of the main shops, hotels, restaurants, travel agencies and banks. Consider the added commissions. And don’t leave your credit card unattended with anyone, regardless of your excuse. Credit cards are accepted in the main stores just be careful. All major credit cards are accepted in Nepal. These include VISA, MasterCard, Cirrus and American Express.
Keep in mind that not all of these cards work in some ATMs. There are some signs in some ATMs that tell you what will work. It is better to keep the larger international banks than the smaller regional banks to withdraw cash.
When paying tourist activities, hotels, flights, walks or products in person with a credit card, you need to consider a few things. Chip and pin services are not fully active in Nepal. Many retail stores still use old-fashioned carbon copy machines.
Don’t leave your credit card with anyone. Power outages are common in Nepal and many genuine and not-so-genuine people will ask you to leave the card with them until late.
It is much better to bring the card and come back later instead of leaving it there. Ignore blogs and the like saying there’s no problem. Indeed, power outages are still frequent, which reduces satellite communications from banks. It’s normal and has been going on for years.
If you pay for restaurant meals, consider additional costs, such as VAT and service charges, along with credit card fees and currency exchange fees. You could spend a lot more than you think.
In Nepal, paying cash is generally safer than with a credit card. If you go to Nepal with a credit card, be sure to notify your credit card company first, as many have a blacklist in Nepal and could cancel your card if you start using it in Nepal without notifying them.
Maximum cash withdrawal limits Nepalese ATMs
ATMs in Nepal generally limit the amount of money you can withdraw per day. The limit is often between approximately 10,000 and 30,000 NPR, very much between USD 100 and 340.
However, be careful because your local bank may also impose international withdrawal limits, even if you do not have a limit in your home country. You should check with your bank before leaving.
Exchange rates at ATMs in Nepal (DCC)
Once you place your card at an ATM, you may be asked which currency you would like to use for the transaction: the local or local currency, the Nepalese rupees. If you choose the local currency, the money will be converted by the local ATM, using a method called Dynamic Currency Conversion (DCC).
This is not good news for you: this local ATM does not bother keeping you as a customer because it does not perform banking operations there.
Therefore, it is likely that you will be charged an unfair exchange rate, up to 18% worse, according to some reports.
Therefore, you should always choose to be charged in the local currency, which means that your bank will probably be responsible for the conversion. It is unlikely that the intermediate market exchange rate will still be charged, which would be fairer, but will be significantly better than the rate you will get through DCC.
By Abhishek Raj Jha