Who needs to send money home?
Sri Lankans who are living and working abroad needs to send money to Sri Lanka to support their families and loved ones.
How do I send money home?
First you need to locate an exchange house (an institution that allows sending money to various countries at a fee) in your locality. Availability of these services change from country to country. For example in some countries Exchange Houses are very popular among migrants and in some countries money transfer services are handled by Banks.
What is the money remitting process?
Once you visit the Exchange House you can get to know their fee structures, exchange rate and other relevant details. If you are satisfied with the rates you can proceed with the money transfer process. You need to decide which type of remittance is to be sent, cash or an account credit. Once that is decided proceed with filling out the necessary details and proceeding with the transactions. If you opted for a cash remittance, once you hand over the money you will be given a PIN number. Keep this PIN number safe and notify your family number at home. Always keep the PIN number safe and advise your family member also to do the same.
Tips on sending money home
- Always select formal methods of sending money. Do not trust people or organizations that advocate sending money through informal channels. They might seem cheaper, but there is no guarantee that your hard earned money will reach the country. Select formal and trustworthy methods to send money home
- Consider the most suitable options to send money home. Decide which method you are going to send money to Sri Lanka. There are two options to send money to Sri Lanka- cash remittance and account remittance. Sending money to an account is a safest method and it is very convenient to the beneficiary as well since they can withdraw money through ATM around the clock. When selecting a service to send money do not only consider about the exchange rates and charges. Consider about the availability of pick up points, ATM locations, special offers for remittance customers, the stability of the institution, the reputation of the institution.
- Be accurate when filling out documentation Be accurate and precise when filling out the documentation as errors in account numbers and names will delay your transaction from reaching your family Mention contact number of the beneficiary in Sri Lanka When sending cash remittance make sure to mention the formal name that is appearing in the national identity card of the beneficiary
We Offer a range of remittance services to send to and receive money from your loved ones.
Learn about Remittance Services offered by Commercial Bank
