Cards and Remittance Services
This domain covers card issuing and acquiring, ATM operations, chargebacks, and inbound or outbound remittance. The exam tests lifecycle controls, fraud, foreign-exchange handling, payout reconciliation, and AML obligations.
Core rules and concepts
- Cards: EMV chip and PIN reduce counterfeit fraud; 3-D Secure supports card-not-present authentication. PCI-DSS scope must be defined and minimised.
- Chargebacks follow network rules and time limits. Retain delivery, authorisation, and customer-communication evidence.
- ATM cash is reconciled daily; card limits, blocking, and hot-listing must work in real time.
- Remittance: use licensed providers and banking channels. Identify sender and beneficiary, screen sanctions, state exchange rate and charges, and pay against valid ID.
- Hundi and informal value transfer are illegal. Remittance records support STR/TTR reporting and reconciliation.
Worked example
A remitter sends USD 500. The bank’s buying rate is NPR 133.50 per USD and the service charge is NPR 500. Gross NPR value = 500 × 133.50 = NPR 66,750. Payout = 66,750 − 500 = NPR 66,250. If the customer is told “about NPR 66,000”, the bank has failed transparency. Verify beneficiary ID, check the sanction list, and retain the payout voucher.
Traps
Using the selling rate for inward remittance, deducting charges without disclosure, paying a beneficiary without ID, ignoring chargeback deadlines, and splitting a remittance to avoid reporting.