SDB bank introduces Bulk Cash Collection service in tie up with Certis Lanka

Friday, 2 October 2020 00:00 - - {{hitsCtrl.values.hits}}

SDB Bank CEO Thilak Piyadigama (left) with CERTIS Lanka Security Solutions Group Managing Director/CEO Vipul Hettige

SDB bank recently launched its Bulk Cash Collection service in furtherance of its customer convenience proposition. The all-new doorstep collection service was developed in close coordination with reputed security solutions provider Certis Lanka, offering clients unmatched convenience in securely transferring bulk physical cash.

Already initiated in the Western Region and soon to be offered country-wide, the bulk cash collection service is seen as a vital economic service by many of SDB bank’s clients, ensuring the post COVID-19 national economy is strengthened. It comes at a critical stage in the country’s recovery from the pandemic-induced lockdown period, as companies strive towards financial stability.

Subsequent to the signing of the agreement with Certis Lanka, a number of the bank’s long-standing clients availed of the facility immediately. They cited SDB bank and Certis Lanka’s formidable industry reputation as prime among the reasons for their confidence in the secure transference of physical bulk cash between their premises and the bank.

The new facility aims to offer support to SMEs and entrepreneurs who are gradually resuming their routine business operations, allowing this vital segment of the national economy to remain afloat and gradually make a full recovery.

SDB bank’s bulk cash collection service is supplemented by an online portal offering clients complete control over bulk cash collections, transfers, and other corporate and business internet banking requirements. Customers are also provided insurance cover of up to Rs. 100 million on bulk cash collections.

Segmented into four brackets based on collection frequency, the prime offering involves daily-basis cash collections with a minimum value of Rs. 100,000. Certis Lanka’s charge per pick up as part of the daily bulk cash collection option, the full 100% is borne by the bank to ensure the service is offered free of charge to customers.

Twice weekly, once weekly, and one-off basis collections are also offered, each entailing varying collection charges and reduced percentages being absorbed by the bank.

SDB bank’s bulk cash collection service enhances its already strong corporate and commercial offering, while in parallel reinforcing its position as the country’s leading SME and entrepreneurial bank. This allows for the bank’s growth in these segments while improving business potential for all its clients.