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 member’s 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.