Send Money To Sri Lanka

Updated on September 13, 2020
Personal
Business
From
United States Flag
United States
USD
To
Sri Lanka Flag
Sri Lanka
LKR
1 USD equals
184.505 LKR
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
OFX Logo
  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers
$
$
$

low

Fees
87
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank transfer
  • Debit card (UK only)
  • BPAY (Australia only)
  • Direct debit (U.S. only)

Features

  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for personal transfers
  • Circle Check Icon
    Get competitive exchange rates
  • Circle Check Icon
    Lets you schedule transfers with ease
  • Circle Check Icon
    Trading in some currencies possible only over the phone
  • Circle Check Icon
    Website access only in English

TorFX Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents
$
$
$

low

Fees
72
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank transfer
  • CHAPS (UK only)
  • BACS (UK only)
  • Visa debit card (UK only)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for one-off transfers
  • Circle Check Icon
    Schedule transfers between £500 and £10,000 per month
  • Circle Check Icon
    Use hedging tools to protect yourself against FX fluctuations
  • Circle Check Icon
    No multilingual website

XE Money Transfer Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service
$
$
$

low

Fees
74
Speed Icon

medium

2-3 days

Less Information
-

Transfer Options

  • Bank Transfer
  • BPAY (Australia)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    No fees for personal transfers
  • Circle Check Icon
    Accepts payments in several currencies
  • Circle Check Icon
    Target specific rates using limit orders
  • Circle Check Icon
    No debit or credit card payments
  • Circle Check Icon
    No scheduled transfers

WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
-

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers

Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    -

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For


      TransferWise Logo
      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app
      $
      $
      $

      low

      Fees
      75
      Speed Icon

      fast

      1-2 days

      Less Information
      -

      Transfer Options

      • Bank Transfer
      • Credit Card
      • Debit Card
      • Country specific alternatives

      Features

      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        User friendly mobile app
      • Circle Check Icon
        Multi-currency account
      • Circle Check Icon
        Travel debit card
      • Circle Check Icon
        No scheduled transfers
      • Circle Check Icon
        No dedicated account manager

      How to send money to Sri Lanka

      How To Step Icon
      Step 1
      Compare first, then register
      Compare first, then register
      A number of prominent money transfer companies offer easy ways for you to send money to Sri Lanka.
      When comparing your options, pay close attention to your specific requirements so you select a company that suits you the best.
      You will need to provide your contact details to sign up as an individual or a business.
      Details from an acceptable form of identity may be required.
      How To Step Icon
      Step 2
      Set up transfer after examining exchange rates
      Set up transfer after examining exchange rates
      Take a look at any significant fluctuations in ZAR exchange rates that may have occurred in the recent past.
      Once you decide to move forward with sending money to Sri Lanka, get a rate quote from the company you select.
      The transfer amount might play a role in the rate you get. To set up your transfer, lock the rate on offer by accepting the quote.
      This is when you need to provide the recipient's Sri Lankan bank account details.
      How To Step Icon
      Step 3
      Wrapping up
      Wrapping up
      All you need to do next in order to complete the process of transferring money to Sri Lanka is pay for your transfer.
      Depending on the service provider you choose, you might be able to pay in different ways.
      Upon receiving your money, your service provider transfers it to the recipient's bank account. Most companies inform customers about the expected turnaround time in advance. Tracking transfers is possible, usually through notifications and updates.

      Currency Symbol and Swift Codes

      The Sri Lankan rupee (LKR) is the official currency of Sri Lanka. One rupee is divided into 100 cents. While the currency is denoted using “Rs” within the country, “SLR” is more commonly used to distinguish it from other rupee denominated currencies.

      The Sri Lankan banking system relies on the Society for Worldwide Interbank Financial Telecommunications (SWIFT) payment network to carry out cross-border fund transfer. Given below are SWIFT codes of some popular banks in Sri Lanka.

      BANKBRANCHSWIFT CODE
      Commercial Bank of CeylonColomboCCEYLKLXXXX
      Sampath Bank PLCColomboBSAMLKLXXXX
      National Savings BankColomboNSBALKLXXXX
      Hatton National BankColomboHBLILKLXXXX

       

      Case Study

      Sampath had moved from Sri Lanka to the UK as a student to pursue higher education. Upon the completion of his studies, he found a job that enabled him to continue living in the UK. Since he earned more than he needed to get by, he decided to start sending some money back home to his parents. He figured he could afford sending around £1,000 each month.

      He could use the services of the bank he banked with to carry out the transfer, but he felt he might benefit by comparing it with a leading money transfer company. This is what he found.

       BANKMONEY TRANSFER SERVICE
      Exchange rateGBP 1 = LKR 195.0173GBP 1 = LKR 209.9114
      Transfer feeGBP 20GBP 0
      Amount received for GBP 1,000LKR 191,116.95LKR 209,911.40
      Transfer time2 to 6 days1 to 2 days
      Transfer optionsBank accountBank account
      Difference of LKR 18,794.45

      Sampath used the money transfer company instead of his bank, because of which his parents ended up receiving some extra money each time. The company he selected let him schedule his transfers so he did not have to go through the entire process each time. In addition, if he found exchange rates to be favorable, he could lock them for up to six months.

       

      Cash Pickup Locations in Sri Lanka

      You may send money to Sri Lanka quickly by using the services of companies such as WorldRemit, Western Union, MoneyGram, Azimo, and Ria. These companies have extensive agent networks in the country.

      WORLDREMIT IN SRI LANKA 
      Colombo Sampath Bank, No. 103, Dharmapala Mawatha, ColomboHatton National Bank, 60, Sea Street, Colombo
      Kandy Sampath Bank, No 29, Cross Street, KandyBank of Ceylon, No 447, Kurunegala Road, Kandy
      WESTERN UNION IN SRI LANKA 
      Colombo, Dedigama Group, Armour Street Pawn Shop 58, Sumanathissa Road Armour Street, ColomboDedigama Group, Maligawattha Pawn Shop, 57/d, New Pradeepa Mw, Colombo
      Kandy People's Bank, Kandy City Center, Sri Dalada Veediya, KandyD A Kurukuththala and Sons, No 101, Kandy Road, Kaduganna, Kandy
      MONEYGRAM IN SRI LANKA 
      Colombo Bank of Ceylon Navajeevanam Boys Home Tharmapuram, Kilinochchi Wanna, ColomboCommercial Bank of Ceylon, Shop No 3-31, Magestic City, No. 10, Station Road, Colombo
      Kandy Commercial Bank of Ceylon Limited L 1-2, Level 1, No 30 Dalada Veediya, KandyBank of Ceylon No 22, Dalada Veediya, Kandy

       

      Safety Tips for Picking Up Cash in Sri Lanka

      Petty crimes such as bag snatching and pickpocketing are common, especially on public transportation.  Violent crimes targeting foreigners have known to take place. Thefts have been reported from guest house and hotels, so keep your belongings with care. If picking up a large sum from a cash pickup center, take someone you trust along and do the needful during daylight.

      Never leave your drink unattended as instances of drinks being spiked are not uncommon. Credit card fraud is common so never leave your card out of sight. When possible, stick to using cash.

      Women travelling to Sri Lanka need to take particular care because they are prone to getting unwanted attention, and instances of physical and verbal harassment by groups of men are common.

       

      What Information Do I Need to Transfer Money to Sri Lanka?

      The information required to carry out a money transfer to Sri Lanka depends on the desired transfer method.

      • Sending to a bank account. You will need the recipient’s complete name, an account number, an IBAN, the receiving bank’s name, and the receiving bank’s SWIFT code.
      • Sending to a cash pickup center. You will need the complete name of the recipient and the location of a suitable cash pickup center. The recipient will need to present a valid form of ID and a reference or transaction number to collect the transferred money.

       

      Regulations When Transferring Money To and From Sri Lanka

      The Sri Lankan rupee is fully convertible, which makes carrying out transfers to and from the country easy. The Central Bank of Sri Lanka is responsible for overseeing the country’s payment and financial systems, and it also works in preserving the rupee’s stability.

      While there are no restrictions on transfers into the country, you need an exchange control permit issued by the Central Bank of Sri Lanka to transfer money out of the country.

      Worker remittances are exempted from taxation in Sri Lanka. People returning to the country may carry up to U.S. $10,000 or its equivalent without prior permission. Sri Lankans travelling overseas may carry up to U.S. $5,000 without requiring any kind of exchange control permission.

      Convert USD to LKR

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      USD
      LKR
      Sending money online through specialist money transfer companies.

      Expect to receive between SLRs18265.98 and SLRs18376.68 when sending money from USD to LKR at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately SLRs17527.96, not including additional banking fees. That is an average saving of SLRs793.37.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

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