If you wish to send money to Sri Lanka or any other country, you need to choose between offline as well as online modes of remittance. Online options include power transfers and e-transfers whereas offline options include bank drafts and cheques.
No matter what option you choose to send money from UK to Sri Lanka, it is important to ensure that the remittance service provider is reputed and licensed to carry out money transfer activities. When choosing a financial institution, be sure to check if it has partnered with foreign banks to ensure a smooth money transfer.
You need to consider the speed of disbursement when remitting money to Sri Lanka. For instance, if there is urgency and you want the money to reach your family, friend or business associate in Sri Lanka in one day, online remittance service providers are the best choice. Reputed agencies ensure that money reaches within minutes to the beneficiary’s account or within one working day.
Offline mode takes time because if the cheque is issued in foreign currency, you might have to experience a delay of 7-15 days before the holder can encash it. This is because banks take time to verify the deposit. Transferring of funds through credit or debit card is also a quick procedure. It takes merely 1-4 days for the amount to reach the intended person. When you choose a financial institution or a bank, make sure you don’t initiate a transfer on public holidays.
Cost of money transfer service is another factor to consider. For instance, you can send money to Sri Lanka free, without paying transfer fee if you choose an online agency. Many reputed agencies waive off transfer fee if you avail their services for sending a huge amount to another country.
No matter what option you choose to send money from UK to Sri Lanka, it is important to ensure that the remittance service provider is reputed and licensed to carry out money transfer activities. When choosing a financial institution, be sure to check if it has partnered with foreign banks to ensure a smooth money transfer.
You need to consider the speed of disbursement when remitting money to Sri Lanka. For instance, if there is urgency and you want the money to reach your family, friend or business associate in Sri Lanka in one day, online remittance service providers are the best choice. Reputed agencies ensure that money reaches within minutes to the beneficiary’s account or within one working day.
Offline mode takes time because if the cheque is issued in foreign currency, you might have to experience a delay of 7-15 days before the holder can encash it. This is because banks take time to verify the deposit. Transferring of funds through credit or debit card is also a quick procedure. It takes merely 1-4 days for the amount to reach the intended person. When you choose a financial institution or a bank, make sure you don’t initiate a transfer on public holidays.
Cost of money transfer service is another factor to consider. For instance, you can send money to Sri Lanka free, without paying transfer fee if you choose an online agency. Many reputed agencies waive off transfer fee if you avail their services for sending a huge amount to another country.
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