NTB multiplies inward remittance locations via partnership with Singer

Thursday, 16 September 2021 03:55 - - {{hitsCtrl.values.hits}}

Nations Trust Bank Director and CEO Priyantha Talwatte exchanging the agreement with Singer Sri Lanka Director/CEO Mahesh Wijewardene, in the presence of board members of Nations Trust Bank and Singer Sri Lanka

Increases accessibility and convenience for both local and international remittance customers

Nations Trust Bank recently appointed Singer (Sri Lanka) PLC as a sub-agent to disburse foreign inward remittances received through international money transfer companies.

The Memorandum of Understanding (MOU) was signed by Nations Trust Bank Director/Chief Executive Officer Priyantha Talwatte, and Singer Sri Lanka PLC Director/Chief Executive Officer Mahesh Wijewardene.

Through this partnership, the bank is able to increase accessibility and provide convenience to remittance customers by allowing them to collect selected remittance payments from any of the 430 Singer branches located across the country. The wide Singer store network is also a true value addition for Sri Lankans living and working abroad, who regularly send money to support their family members back home.

The increased number of remittances pay-out locations will further benefit customers who are located outside of the main cities as they will no longer need to travel long distances to collect the money sent from their loved ones overseas. Customers can visit the new Singer payout locations, which are usually open from 9 a.m. to 6 p.m. with selected branches operating under extended hours till 9 p.m., to receive up to Rs. 200,000 per transaction.

By expanding the accessibility of foreign inward remittance services in Sri Lanka, Nations Trust Bank is also contributing towards the economy by encouraging more foreign exchange into the country.

Additionally, this partnership with Singer will also bring in more potential customers for Nations Trust Bank’s foreign inward remittance partners worldwide. A few key global partners include Ria, Transfast and regional partners, Small World and PaySend in Europe. The bank also has country-based money transfer partners such as Thamor (RemitBee) and Buckzy in Canada, Unigiros and Worldcom Finance in Israel, NEC B.S.C. in Bahrain, Brastel in Japan, EzCash in UK and Al Zaman Exchange in Qatar.