Banks are the institutions where the economic transaction happens. They are the places where sending and withdrawing of money takes place. In short Bank are medium of exchange consisting chiefly of checks and drafts. In Nepal presently 5 classes of Banks are present in different parts of the country. At present context, almost every 77 districts of the countries has bank services.

The Utmost body of finance and the head Bank of Nepal is “Nepal Rastra Bank”. It is the central body which controls and decentralize the economic right to other bank. The Rastra bank is the supreme body where the final transactions all over the banks in the country are counted. Nepal Rastra Bank is located in Kathmandu, Capital city of Nepal.

The second type of Bank are Commercial Bank Class A bank. These banks are divided according to the transactions and the services they provide. For now roughly, Commercial Class A bank numbers all over the country is 28. They have different branches in the different Parts of the countries. Some name of those Banks are : Nepal Bank, Civil Bank limited, Mcchapuchre Bank etc.

The second type of Bank are Development Banks . All total in Nepal these Banks are 33 in numbers and they have different branches accordingly. Some of the Development banks are : Kabali development Bank, Narayani Development Bank limited etc.
The other type of Bank are Microcredit development Bank Class D. These type of Bank are cooperative bank or microfinance bank which give loans and credit in small amount. These are the bank which play role in uplifting the living standard of Nepal. These banks are: Nirdhan Uuthan Bank limited, Grameen Bank Nepal etc.

An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, transfer funds, or obtaining account information, at any time and without the need for direct interaction with bank staff. ATMs in Nepal are relatively new in Nepal. In last 5 years, vast progresses have been made in sector of ATMs in Nepal. Almost all of the Commercial Bank now has the service of ATMs. Although the ATM are told as they are for 24 hours service bout very few banks in Nepal has 24 hours service. ATM service in Nepal is now being decentralized to sub-urban places also. In the busy parts of cities, and standard hotels and restaurants there is the system of ATMs. According to recent surveys, about 10% of the urban hotels now accept ATMs. The ATM service of Nepal has Debit, Visa and SCT mechanisms and others.
ATMs are very easy, convenient and quick to use. But the latest global trend of Nepal, Paperless money or digitalization of Money is another new trend in Nepal. Now we can even have digital wallet. Anyways, ATMs are one of the convenient way of making transactions in Nepal and there is no problem for using this service in Nepal almost anywhere.

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