DVB introduces local remittance service
DFCC Vardana Bank (DVB) introduced Lanka Money Transfer (LMT) in
partnership with seven banks and financial institutions. LMT is a
remittance service which allows customers, both sender and receiver to
transfer money with ease using a bank they trust.
DVB has partnered with an extensive network of leading banks -
Regional Development Bank, Lanka Orix Finance PLC, HDFC Bank, Amana
Bank, Sanasa Bank and Union Bank PLC, to launch this product. Customers
of DVB and any of the partner banks of the LMT could use this fund
transfer service to remit money to their accounts.
There are 2.2 million Sri Lankan migrant workers who save their
earnings and remit money to Sri Lanka to support their families. LMT
will help them to achieve this objective by directly remitting the money
to their family memberís accounts at low cost.CEO, DVB, Lakshman Silva
said that the new product will make remittance easy. The network
consists of over 700 outlets of the partners and therefore, has access
to wide customer base.
LMT is a Sri Lankan product and, therefore, DVB can guarantee that
all charges incurred on transferring money will flow back to Sri Lanka.