How to Send Money to NRFC Account in Sri Lanka

If you are considering sending money to Sri Lanka, there are many different options you can choose from. WorldRemit, Xoom, and Seylan PFCA all offer convenient and reliable options. These money transfer services have wide geographic coverage. Xoom, for instance, has 2382 locations across Sri Lanka. Many banks have also partnered with money service providers to extend their geographical reach.

Seylan PFCA

Seylan Bank offers a wide range of remittance services to its customers in Sri Lanka, including the ability to send money from overseas. These services work through a network of overseas agents, and they’re designed to make it as easy as possible for individuals to send money to their account in Sri Lanka.

PFC accounts are available for individuals of Sri Lankan origin living abroad. These accounts offer attractive interest rates and flexible withdrawal options. You can open a PFC account at a Commercial Bank of Ceylon branch. Alternatively, you can open an NRFC account with Standard Chartered Bank Sri Lanka. These banks offer a variety of savings and fixed deposit accounts, as well as 24-hour telephone banking and Pay-by-phone facilities. Some even offer foreign currency loans against your deposits.

If you’re transferring money to Sri Lanka, you’ll want to make sure that you use a reputable money transfer service. The best rates are not always the same, so it’s a good idea to shop around for the best rates. Most people send money to Sri Lanka through online money transfer providers, which offer low transaction fees and faster delivery.

The banking system in Sri Lanka is well-diversified, with a central bank and two major state-owned banks. Besides these, there are also private domestic commercial banks, national savings banks, and regional development banks. Moreover, there are two housing banks and three licensed specialized banks.

Seylan OIA

Seylan Bank offers a Personal Foreign Currency Account (PFCA) that earns competitive interest rates. Moreover, Seylan PFCA account holders enjoy a unique value added rewarding scheme. It allows a nominated family member to withdraw money on a monthly basis. Customers can access their accounts globally through VISA-accredited merchants or ATMs. With Seylan Internet Banking, customers can check their balances and transaction history.

Seylan Bank is committed to protecting its customers’ interests and providing them with exceptional service. Seylan Bank PLC has taken steps to protect customers from fraudulent online activity. Customers should be careful when clicking on insecure websites or clicking on unfamiliar advertisements. Alternatively, they can contact customer support via phone or email.

The bank offers several benefits to its account holders, including a free hotel stay when they need to travel for work or pleasure. Moreover, Seylan Bank has also launched its ‘Thilina Sayura’ scheme, which is based on the principle that ‘the more you save, the more you win’. The rewards increase proportionally with the account balance. For example, an account balance of $ 10,000 or more will earn the holder a free full day stay in one of the bank’s partner hotels.

Commercial Bank

When it comes to banking in Sri Lanka, there are many options for depositing money. There are state-owned commercial banks, private domestic banks, foreign banks, development and housing banks, and national savings and credit societies. You can deposit funds directly to your account or through an intermediary bank. However, you should be aware that the latter may take additional days.

There are several online money transfer providers to choose from. Some of these companies offer low transaction fees and lower exchange rates. The delivery times are also often faster than bank transfers, which may be crucial in emergency situations. However, some companies are better than others, and their rates will vary.

If you are transferring money from a foreign account to a Sri Lankan one, make sure to choose the cheapest option. You also want to make sure that the service is secure and that it falls within your budget. Some providers offer international wire transfers or in-store sending options.

NRFC accounts are intended to encourage Sri Lankan expatriates to remit their foreign earnings to invest in Sri Lanka. These accounts can help them manage currency instabilities. They also provide the facility to take out loans against deposits. The amount of money you can send to your NRFC account depends on the currency you’ve deposited and how much you’re willing to borrow.

TransferWise

TransferWise is a money transfer company that charges low fees. It also matches the mid-market rate for most currencies, saving you money compared to specialist transfer providers or most banks. The process is fast, secure, and transparent, and its mobile app is regulated by the Financial Conduct Authority.

Money transfer companies in Sri Lanka include Western Union and MoneyGram. Both companies offer an online option as well as a network of money transfer agents in major stores. Western Union has agents at supermarkets, mailbox centers, travel agencies, and drug stores. Both companies offer fast and affordable transfers to bank accounts in Sri Lanka.

When sending money to Sri Lanka, it is important to choose a service that offers instant deposit. The transfer is typically completed within minutes of signing up. TransferWise’s fee is low and transparent – just 4.43 USD. If you use an intermediary bank, you may have to wait two to three days for your money to arrive in Sri Lanka.

Wise is a payment network that offers easy, fast, and cheap international payments. Wise works with over 80 countries and charges a small percentage of the total amount. There is no hidden fees or markups, so Wise is often the cheapest provider in the market. Wise also allows you to use multiple currencies, and offers a multi-currency account for individuals.

Wise is an electronic money institution regulated by the UK’s Financial Conduct Authority. It is fully licensed to operate within the European Economic Area and offers passport rights for many European countries. You can fund your transfer with a credit card, debit card, or direct bank transfer. You can also use cash or a mobile wallet to send money.

WorldRemit

WorldRemit offers low fees, fast money transfers to Sri Lanka, and multi-lingual support. The service can be used by anyone in the world and will make sending money to Sri Lanka a breeze. You can send money to any NRFC account in Sri Lanka using their simple online form, which takes less than 60 seconds to complete.

WorldRemit supports a variety of payment methods, including bank transfers and credit cards. Bank transfers are usually the cheapest and fastest method. However, they may be a little slower than other payment methods, such as credit cards. Credit card transactions cost more to process.