Sampath introduces ‘Flash Remit’ for safe, quick money from ME

In yet another revolutionary move in banking service, Sampath Bank has introduced ‘Flash Remit’ under its e-remittance services for the quick and most reliable transfer of money from the Middle East to Sri Lanka.

It is a service arranged in association with UAE Exchange which has branches in 17 countries including Dubai, Qatar, Oman, UAE, Abu Dhabi, Bahrain, Jordan and Kuwait.

“In providing this service to Sri Lankans in the Middle East, Sampath Bank is helping its customers to send the money in a legal, reliable and efficient  way rather than resorting to illegal methods and very often losing the money,” said Deputy General Manager – Marketing and Business Development, Tharaka Ranwala.

 Under ‘Flash Remit’, if the beneficiary has a Sampath Bank account, the wired money can be withdrawn real time within a few seconds after the money has been credited to his account by the sender’s agent.

Stressing that this facility is only available with Sampath Bank under its affiliation with UAE Exchange, Ranwala said that the local beneficiary can withdraw the money remitted through UAE Exchange from 206 Sampath bank branches and more than 1600 ATMs linked islandwide. Sampath Bank customers can access their accounts through Bank of Ceylon (BOC), Hatton National Bank (HNB), National Development Bank (NDB), HDFC, DFCC Vardhana, National Savings Bank (NSB), Union Bank, and Pan Asia Bank ATMs as part of Sampath Bank’s ATM link in addition to the 255 ATMs of Sampath Bank.

Discussing the advantages of ‘Flash Remit’ facility, he said that while there is maximum security for the money remitted, it provides speed in the true sense as the remitted money can be withdrawn over the counter in real time. The customer can use his VISA debit card for transactions.

He emphasised that the customer does not have to incur any extra payment other than the usual commission charged. Neither does the beneficiary need to withdraw the full amount from his or her bank account. Thus the money saved in the account will get an interest thereby encouraging the savings habit.

 If the customer has made available the mobile number of the beneficiary to the Bank, he will receive an SMS alert once the remitted money is updated in his account real time. This facility is made available on the payment of a nominal annual fee.

DGM Ranwala added that Sampath Bank has used its in-house resources and developed the required software to provide the facility.

Explaining the social dimension of this facility, he said that as a socially responsible institution, Sampath Bank is helping to minimise illegal money transfers and transactions.

“The key message to all customers is to open a Sampath Bank account today and receive money real time from the loved ones employed in Middle East and request them to transfer money via UAE Exchange so that their money will be in safe hands and reach their families quickly,” he said.