Migrant worker population of Sri Lanka has increased significantly over the years, and become the major source of foreign currency inflows to the country. “MoneyGram” and “Western Union” money transfer services are highly popular among Sri Lankan migrant worker population as the main money transfer options to Sri Lanka. In this article I am going to introduce another four fund transfer options providing cost effective, safe and speedy remittance service to Sri Lankan migrant population.
1. Eurogiro Postal Network
Eurogiro is a global payment community that connects s thousands of Post Officers globally and also banks and other payment handlers in almost every part of the world and both rural and urban areas for cross boarder payment transactions. More than 500,000 branches and post offices and more than 4 billion people in Africa, Asia, America, Middle East and Europe are within reach for payments between Eurogiro members. Many of these people can also be reached via their accounts.
National Savings Bank is the local agent for the Eurogiro community in Sri Lanka and introduces the easiest and the most trusted way to send money from member institutions of Eurogiro. This facility is available at every Post Office in the following countries.
- South Korea 3000 Post Offices in South Korea at a lowest cost US $8 per transaction. Beneficiary accounts at NSB will be credited on the same day
- Israel 700 Israel Post Offices at a lowest cost US $ 15 per Transaction. Beneficiary accounts at NSB will be credited on the same day
- Italy 14,000 Post Officers in Italy and funds should transfer in EUROs at a cost of EURO 2.58 for registered customers or EURO 10.33 for unregistered customer’s per transaction basis. Registration fee for Eurogiro system would cost EURO’s 12.58. Beneficiary accounts at NSB will be credited on the same day
- Germany Deutsche Post
Commercial Bank UNISTREAM (Russian Federation) signed an agreement with National Savings Bank to start inbound remittances through NSB branches in Sri Lanka. Integration between the UNISTREAM system and NSB opens the opportunity to send money from any of the UNISTREAM’s outlets, worldwide, to Sri Lanka, and receive it in NSB branches. The set of services offered includes not only cash–to–cash, but also cash–to–accounts and even bank checks delivery. The services are available at more than 190 NSB locations and proposed to expand the network by end of year to 200 and above.
3. XPTRESS MONEY
Xpress Money has one of the largest agent networks covering all major remittance hubs of the world. With their strong presence across five continents they believe in connecting and reaching out to people across the globe through their fast, safe and easy money transfers facilities.
Partner Banks in Sri Lanka
National Savings Bank Bank Of Ceylon Commercial Bank
Hatton National Bank Sampath Bank Pan Asia Bank
Seylan Bank Lanka Orix Finance Co Ltd
4. INSTANT CASH Global Money Transfer
Instant Cash a subsidiary of Emirates Post – a UAE Federal Government Entity provides a state of the art electronic Money Transfer System. Developed for the masses across the globe, Instant Cash charges the competitive fees for remittances and is backed by the latest technology for reliability. For those who are work in Middle East countries this one of the best method for send money to Sri Lanka.
Partner Banks in Sri Lanka
National Savings Bank Commercial Bank Hatton National Bank
Migrant workers in the following countries could remit money to National Savings Bank using all the options stated above.
Australia / Austria / Bahrain / Belgium / Bulgaria / Canada / Cyprus / Fiji / Georgia / Greece / Hong Kong / Italy / Kenya / Kuwait / Lebanon / Maldives / Moldova / Netherlands / New Zealand / Oman / Palau / Palestine / Qatar / Saipan / Saudi Arabia / Singapore / Spain / Sudan / Sweden / Switzerland / United Arab Emirates / United Kingdom / United States of America
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