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With almost two million Sri Lankans working abroad, bringing in more than $ 6 billion annually accounting for 10% of the country’s GDP, People’s Bank is invested in making the transition to a foreign country easier while providing a consistent banking environment for migrant workers.
Chief Executive Officer and General Manager of People’s Bank, N. Vasantha Kumar stated: “We at People’s Bank want to ensure that you can manage your hard-earned income yourself, comfortably from overseas without having to resort to unreliable third parties, and be able to return home to secure savings. In the past, we have found that this is a serious problem for many of our customers who return from a period of foreign employment to discover their reserves have been used up, and so we focused on finding a solution. This new system allows for the customer to provide for their family at home while still maintaining control of the account and the funds.”
This system gives free access to multiple services ranging from simple enquiries concerning account and credit card balance and interest and exchange rates, to the transfer of funds within People’s Bank and the payment of utility bills, including CEB/LECO, Water, SLT, credit card and Mobitel payments. Transfers to other banks are also available but will incur standard bank to bank charges. This will allow for the customer’s salary to be remitted to their own account instead of to that of their dependents.
Commenting on the partnership, Mobitel Acting Chief Executive Officer Kapila Chandrasena said: “This is a good example where the National Mobile Service Provider has joined hands with one of the country’s giants in the banking industry to work together to address a crucial need of their customers. While this partnership is most timely, the fact that we can offer the latest tech to our customers is certainly a fact to be proud of. This service enables migrant workers to carry out their financial transactions at ease, from anywhere, at any time. We would like to thank the team at People’s Bank for working with us to make this facility possible for all Sri Lankans.”
Mobitel will issue USSD (Unstructured Supplementary Service Data) technology activated SIMs to migrant workers through People’s Bank, at no additional cost. All mobile banking messages and #488# calls will be free of charge from overseas. This special SIM will allow for that without the need to activate roaming facilities. Calls unrelated to mobile banking will be charged at a nominal cost of Rs. 25 per minute. This service will make transactions more efficient and the biggest advantage that you will have out of this service is that you will be enabled to make quick decisions and perform transactions at any location any time and any day you desire.
Deputy General Manager (Retail Banking) of People’s Bank Renuka Jayasinghe further explained: “With this new facility, People’s Bank guarantees access to your funds online. In this new and unfamiliar territory, having financial security will go a long way to making our countrymen abroad more relaxed and less anxious about their novel situation. One of our goals at People’s Bank is to continuously work towards improving the lives of our customers, no matter the situation. We are glad to have Mobitel on board with us on this exciting venture.”
Acting Head of IT, People’s Bank, Sobhitha Weerasekara speaking of the partnership said: “In today’s world it is essential for us to keep up with technology; that is one of the main reasons we have listened to our customers’ needs and taken steps to provide efficient banking service which would enable them to access their finances via mobile banking both in Sri Lanka and while they are working overseas. Since the launch of our mobile banking service it has grown in popularity rapidly among our customers and we strongly believe this new service will also be received in a positive manner.”
Acting Deputy General Manager International Banking, People’s Bank Sunil Wanniarachchi said: “Sri Lankans seek foreign employment with the intention of obtaining greener pastures, especially to the Middle East, European and other Asian countries. With the foreign exchange revenue influx the channels to get these remitters to bank with local banks has increased with much competition. Listening to the pulse of the people we at People’s Bank have introduced many channels to attract remittances with the advancement of technology and giving away lucrative fringe and other benefits to such expatriates. The most recent being the free Mobitel mobile SIM Card which gives them various benefits in handling his or her account with People’s Bank while communicating with his or her relatives and others at very concessionary rates.”
For more information on this facility contact your nearest branch of People’s Bank, Sri Lanka’s largest branch network.
