NTB ties up with Remit2Home to offer online money transfers to nonresident Sri Lankans

Nations Trust Bank partners with Remit2Home to offer expatriate Sri Lankans an easy and secure way to transfer money back home. An agreement to this effect was signed recently at the bank’s head office in Colombo between Nations Trust Bank and Times of Money.

Remit2Home is a Times of Money service, the pioneers in e-payments and cross border remittances, serving over a million expatriates worldwide. With this association Remit2Home services shall be available to Non Resident Sri Lankan (NRSL) community staying in US and UK.

The NRSLs in these countries can use Remit2Home services to transfer money online 24x7 directly from their bank account abroad to beneficiaries in Sri Lanka.

Sri Lanka is the fifth largest emigrant country in South Asia with an estimated two million Sri Lankans, accounting for almost 10% of the country’s population, working and/or residing outside the country. Sri Lanka received over US$5 b in 2011 as worker remittance according to the Central Bank reports.

With a continuous growth in its branch network islandwide, Nations Trust Bank is now well positioned to offer remittance services. This proposition will enable Sri Lankans living overseas to remit money to accounts at Nations Trust Bank or another bank.

Through this service funds could also be collected over the counter at any of one of the 48 Nations Trust Bank branches that are open 365days of the year with extended banking hours.

Remit2Home is a pioneer in online global money transfer. It offers personalised online money transfers to Bangladesh, Philippines, Sri Lanka, Kenya, Poland, Mexico and other countries worldwide.

Remit2Home offers expatriates an opportunity to send money to their relatives and friends back home with the comfort of their home or office. Customers of Remit2Home no longer have to visit a bank or an agent, the entire money sending process is online, thus making it faster and easier.

With fund transfers being processed by global banking partners, money transfers through Remit2Home are safe, secure and hassle free. It also eliminates middle men thereby making the whole process transparent and cost effective.

Remit2Home is a service provided by Times of Money, part of Prestigious Times Group of India. With over a decade of experience in e-payments and cross border remittances, today it serves over a million customers worldwide.

Commenting on the partnership, NTB Director/CEO Saliya Rajakaruna said: “This partnership is another milestone in providing a convenient and fast remittance service through a globally recognised brand to anyone in Sri Lanka through the Nations Trust Banking network. We look forward to a growing partnership with Times of Money to increase the remittance base across our branch network which is rapidly growing.”

Speaking on the tie-up, Times of Money President Avijit Nanda said: “With its growing Diaspora, Sri Lanka has a huge remittance potential, which makes it a key focus market for us. With our association with a formidable partner and a new-age bank in Nations Trust Bank, we believe that this is an opportunity to understand the NRSL better. We are delighted to cater to the NRSL through our Remit2Home service. With best-in-class technology and service, we promise to employ our global expertise to provide a hassle-free cross-border remittance experience.”