Seylan Bank signs up for remittances from France

Seylan Bank entered into an agreement with Banque D'Escompte to enable the Sri Lankan diaspora living in France to make remittances back home on a regular basis.

Banque D'Escompte set up in 1932 is in Paris and Strasbourg. However, the bank has arrangements with the French postal system having a presence in 17,000 locations throughout France. This would give Sri Lankans living anywhere in France the opportunity to conveniently make remittances to their loved ones in Sri Lanka.

Seylan Bank, through its 114 banking centres islandwide would be in a unique position to satisfy the needs of such remitters.

Remittances could be made to Foreign Currency Accounts or Sri Lanka Rupee Accounts, as decided by the remitter.

In addition, payments could be made on identification and also delivered at the doorstep in Colombo and the suburbs within 24 hours.

Accounts maintained with other banks could be credited within 48 hours.

Banque D'Escompte would also issue regular remitters a "Money Transfer Card" which would have the details of the remitters and beneficiaries to enable fund transfers any time any day of the year through the Automated Teller Machines at their branches.

The application procedure to open NRFC Accounts with Seylan Bank would be expedited at a special desk at the Head Office of Banque D'Escompte. These documents would be transmitted by the quickest channel to Seylan Bank who would open the NRFC Accounts and inform the accountholder by return mail.

As such, the agreement between the two banks has initiated a holistic approach towards harnessing the earnings of Sri Lankan expatriates, to boost the country's Foreign Currency resources and hassle-free remittances to their dependants.

Both banks have plans to put in place additional facilities as the remittance service picks up in the near future.