Sampath Bank re-launches mobile cash facility

Sampath Bank which constantly strives to make customer's life easier, becomes the first to introduce Mobile Cash facility that enables to send up to Rs. 200,000 /- daily over any Mobile or CDMA network to anyone, anywhere in the country.

The system notifies recipients instantly on the transaction via Sampath SMS Alertz, There is also no requirement of a pre-registration to send or receive money. Money can also be collected instantly from any of Sampath Bank's island-wide branch network or from any Sampath Bank ATM island-wide, 24-hours a day, 365 days a year. Sampath account holders or the beneficiary , either an account holder or a third party are eligible to use this mobile cash system.

Tharaka Ranwala, Deputy General Manager Marketing and Business said, "Apart from the aim of increasing the number of people who use tele-banking facility, we are working on a different format where we inculcate the saving habit by opening accounts and the possibility of having part payments too. Mobile cash facility helps people with convenience, gives mental satisfaction in different scenarios etc. It is an easy, convenient method and a reliable way of sending money and gives a sophisticated and faster outlook to Money Order concept."

"We constantly strive to introduce innovations, as the pioneer, and this is the first mechanism operated in unlimited parameters. Further, we are conscious of AML (anti-money laundering) and KYC ( Know-your customer) compliances .What we want is to revolutionize and transfer the benefit to non-Sampath Bank customers. Our prime objective is to give convenience to people in sending money," he added.

Under this new system, transfer of funds can be done through Telebanking or any Sampath branch. The account holder can transfer funds by debiting the account linked to Telebanking facility. Details such as Sender's mobile phone number ( If a mobile phone number is entered, a message will be delivered to the sender with an approval code via SMS), Beneficiary's mobile phone number, Beneficiary's NIC number (without the last alpha numeric character) and amount to be transferred must be entered via Telebanking in order to create the transaction.