When
planning a business trip to any Asian country like Sri Lanka makes it always
important to find out about the exchange rate before paying the money. An
affordable exchange rate is still essential for a smooth transaction. Many
online money transfer services have their Sri Lanka websites and offer the best
possible exchange rates for Sri Lankan money. This article will tell you how to
send money to Sri Lanka us
ing an exchange rate website.
Way of Transfers
You can quickly
transfer money to Sri Lanka through several online platforms. These platforms
work like an ordinary online shopping store where you can enter your credit card
or debit card number. Once you enter this information, it will be passed on to
the exchange rate provider, who will convert the amount and then send it to
your designated recipient. This transfer method is advantageous, and I'll
explain how this works when sending money from the UK to Sri Lanka.
Bank Transfers
Most people would generally
opt for the banks, as they offer the fastest transfer solutions. There are numerous
benefits of sending funds through banks. For one thing, there is no need to
visit any particular branch to transfer funds since you can do so through ATMs
or online. Most people go for bank transfers, that most of the banks in Sri
Lanka offer competitive rates for their US Dollars and Euro.
Exchange through Cards
Most people make use
of their credit cards to make transfers to Sri Lanka. You can also use debit
cards to make transfers since the latter works just like a bank account. The
only difference is that when you make a debit payment, it gets deducted from
your bank account instead of being transferred into your Sri Lankan account.
Most Sri Lankan ATMs offer both credit and debit card services, making it very
convenient for Sri Lanka residents to make bank transfers.
Rate Comparison is Must!
Before deciding to
make a money transfer to Sri Lanka, you should compare rates at different Sri
Lankan banks. You should also be aware that there are some limitations in using
your debit card for a foreign transaction. You cannot use your credit card to
make a purchase overseas. However, certain card issuing companies issue prepaid
debit cards that allow you to make purchases overseas. These cards usually
have an insignificant limit and can be used for bulk transfers.
Documents Requirement for Money Transfer
Once you are ready
with all the details and documents required to make a money transfer, you can
either use a local Sri Lankan agent or do the transaction through banks. Both
options are quick and easy. You can even send money to relatives abroad via
banks if you do not have a bank account. You would probably need a debit card,
which is valid for a limited period in such cases.
You may want to
transfer money to a family member living abroad so you can attend to his needs,
whether it is for medical treatment or his job. Many online service providers
in Sri Lanka offer services similar to those of traditional banks. The only
difference is that you do not open an account, but you transfer the money from
your bank account. Most of these websites allow you to transfer to any part of
the world. However, they accept only a few currencies - Sri Lanka, the United
Kingdom, Australia, India, Norway, Sweden, and Japan.
Other Financial Institutions.
If you are new to how to send money to Sri Lanka, then getting bank-beating rates will help you. There are plenty of financial organizations in the country that will gladly help you get bank-beating rates on all the money transfers you make. Go online and get quotes from different banks or financial institutions and compare them before deciding on the payment option that best suits your requirements. You can even make payments online right now.