Bank Policies: Mercantile Exchange Nepal Limited: Online Commodities and Metal Trading in Nepal

POLICIES FOR TRANSACTING WITH OUR BANKING PARTNERS

There are four designated banks for transacting with MEX. They are:

a. Laxmi Bank Ltd.
b. Bank of Kathmandu Ltd.
c. Nepal Investment Bank Ltd.
d. Century Commercial Bank Ltd.

General Norms:

Every Broker registered with the Exchange needs to open Operational Account in any of the above mentioned 4 banks for transfer of commission and submit documents as prescribed by the Bank.
But clients can transact only from one bank account at a time for a given client code. The client needs to mention the name of the bank in the CRF as well as while making full and final withdrawal.

Bank a/c details in which client need to deposit for trading purpose:

S. No.	Bank Name	Segregate Account Name	Segregate Account Number	Branch
1.	Laxmi Bank	HCC SEGREGATE A/C	00511000044	Hattisar
2.	Bank of Kathmandu	Himalayan Clearing Corporation Pvt. Ltd. – SEGREGATE A/C	010000061740524	Kamaladi
3.	Nepal Investment Bank	HCC-SEGREGATE A/C	00101010304412	Durbarmarg
4.	Century Commercial Bank	HCC. P. LTD-SEGREGATE A/C	0010000006XC	Putalisadak

General Norms for Clients:

Clients are mandatorily required to open their own bank account at the bank chosen by them for transacting with MEX.
Clients are allowed to have only one bank account at a time for given client code which has been provided and verified in the Client Registration Form.
Once the bank account is opened and the client registration process completes, CH(Clearing House)/CM (Clearing Member) shall provide unique client code to Broker which consist of 7 digits [for Normal Products] and 8 digits [for Delivery Product/s]. The Client needs to get his client code from his broker.
Then the client shall deposit fund for trading in the CH's Segregate Account with correct narration as "Client Code- Client Name" [Please refer to Client's Handbook for further process on this].

Account Opening Procedure for Clients:

Laxmi Bank/ Bank of Kathmandu/ Nepal Investment Bank/ Century Commercial Bank: Client needs to open Personal Account in its name as per the bank norms and rules.

Mode of transfer of funds for all four Banks:

Clients are allowed to make deposits for trading purpose in Clearing House's Segregate Account by using any of the following modes:

Cash Deposit
Cheque Deposit [client needs to get CH's stamp in the cheque for Cheque Deposit]
I Banking
I Banking & Cash Deposit limit will be as per the respective bank norms. Client can coordinate with bank to increase limit of I Banking.

Procedure for changing bank account by existing client from one bank to another:

The Client should not have any open position.
Clients shall be allowed to withdraw full amount for this case.
The Client needs to fill "Partial Withdrawal Form" with a note mentioning- "Please keep my/our account active. I/we shall transfer the amount from ......................... (name of existing bank) to ......................... (name of new bank) within 5 working days failing to which I/we do not have objection with MEX for closing my/our trading account."
Clients shall also provide letter for bank account number change and proof of bank account number of New Bank [to update the CRF] along with Partial Withdrawal Form.

Laxmi Bank Limited

Bank of Kathmandu Limited

Nepal Investment Bank Limited

Century Commercial Bank Limited

The Bank Operation timing of all the MEX designated banks during Public Holidays [until & unless specified] shall be as follows.

S. No.	Name of Bank	Branch	Timing	Contact No./ Ext
1.	Laxmi Bank Ltd.	Hattisar	10 AM to 1 PM	4444684/4444685 Ext: 106/ 108
2.	Bank of Kathmandu Ltd. (BOK)	Kamal Pokhari	1 PM to 3 PM	4414541 Ext: 176
3.	Nepal Investment Bank Ltd. (NIBL)	Durbarmarg	9 AM to 12 Noon	4242530 Ext: 250/252
4.	Century Commercial Bank Ltd. (CCBL)	Putalisadak	11 AM to 2 PM	4445062/4412579 Ext: 330

POLICIES FOR TRANSACTING WITH ESEWA

General Norms:

Every Broker registered with the Exchange needs to open Operational Account in Bank of Kathmandu Limited and/or needs to have their own eSewa wallet for transfer of commission. Brokers need to choose the option in the CRF only; whether they want to receive the commission of particular client [eSewa clients only] in its eSewa wallet or BOK's operational account.
Clients willing to transact through eSewa need to open their own eSewa Wallet. The client needs to mention the User Id of their eSewa account in the CRF as well as while making full and final withdrawal.

Service Charge of eSewa:

Clients shall be charged as follows for transfer of fund to CH’s Segregate account through their eSewa wallet:

Steps to be followed to deposit fund for trading purpose through client’s eSewa wallet:

Important Information:

The fund transferred through this gateway will be deposited in HCC’s Segregate a/c of Bank of Kathmandu Ltd. [010000061740524]
Client needs to enter its Full Name in “Customer full Name” column and correct client code in “Client Code” column while making deposits for trading purpose.
Client registered under eSewa can only use their eSewa wallet to transfer fund for trading purpose.
For unverified eSewa Users (whose identity verification is not completed), total balance they can hold on wallet is NPR 9,999. If balance reaches or exceeds NPR 10000, their eSewa Account shall be blocked. So, clients are requested to complete verification process (from My Profile > fill the details > provide the valid documents) to enjoy unlimited transactions in eSewa.
eSewa users can withdraw funds from their eSewa wallet directly to their Bank Accounts in one of Partner Banks. This feature is exclusively for eSewa users who have completed their verification process.

General Norms for Clients:

Clients are mandatorily required to open their own eSewa wallet.
Clients are allowed to have only one eSewa account at a time for given client code which has been provided and verified in the Client Registration Form.
Once the eSewa account is opened and the client registration process completes, CH shall provide unique client code to Broker which consist of 7 digits [for Normal Products] and 8 digits [for Delivery Product/s]. The Client needs to get his client code from his broker.
Then the client shall deposit fund for trading in the CH's Segregate Account via its eSewa wallet with Full Name in “Customer full Name” column and correct client code in “Client Code”.

Procedure for changing eSewa account to bank account:

The Client should not have any open position.
Clients shall be allowed to withdraw full amount for this case.
The Client needs to fill "Partial Withdrawal Form" with a note mentioning- "Please keep my/our account active. I/we shall transfer the amount from .........................(name of existing eSewa account) to .........................(name of new bank) within 5 working days failing to which I/we do not have objection with MEX for closing my/our trading account."
Clients shall also provide letter for account number change and proof of bank account number of New Bank [to update the CRF] along with Partial Withdrawal Form.

Bank & eSewa Policies