DVB expands Lanka Money Transfer network

DFCC Vardhana Bank (DVB) recently expanded its Lanka Money Transfer network to more than 275 locations in five countries. DVB partnered with Lulu Exchange and Al Ansari Exchange, two of the biggest exchange houses in the Middle East to facilitate the expansion.

The company has also partnered with City Exchange, Islamic Exchange, Al Mirqab Exchange and Al Zaman Exchange. An additional six overseas partners are expected to join the LMT network this month.

Sri Lankans working in the United Arab Emirates, Qatar, Oman, Kuwait and Bahrain can send money directly to their own bank accounts and send money quickly and easily to their loved ones, through this arrangement.

The Lanka Money Transfer network is expanding rapidly and now offers remittance services through more than 700 partner outlets across Sri Lanka.

The network of partners will be expanded to new locations such as Jordan, Cyprus, Italy, Israel, UK and Saudi Arabia during Q1 of 2015.

Lanka Money Transfer, a remittance service, allows customers to transfer funds immediately to any bank account maintained at DFCC Vardhana Bank, Amãna Bank, HDFC Bank, Regional Development Bank (RDB), Sanasa Development Bank, Union Bank and Lanka Orix Finance Company branches.

CEO, DFCC Vardhana Bank, Lakshman Silva said, "We are proud to partner with leading Middle Eastern organisations to further expand our Lanka Money Transfer service abroad. DVB will provide Sri Lankans working in the Middle East a reliable method of transferring money to their accounts and the accounts of their loved ones."

"The rate at which we have added local and international partners to the Lanka Money Transfer service is proof that LMT is a game changer in the country's foreign remittance sphere.

Between our local partners, we have a customer base of over six million, a majority of them, who previously did not have a direct account transfer method to send or receive foreign remittances," he said.

Lanka Money Transfer strives to provide customers with the option of remitting money to the banks and financial institutions that they trust or are most familiar with. Since the service was introduced earlier this year, DVB has been aggressively tying up with partners to further strengthen its LMT network locally and globally.

Lanka Money Transfer is designed to offer customers the highest degree of convenience and a safe and secure way of remitting money.

DVB focuses on meeting customer needs in the most efficient manner and is expanding to cover as many customer touch points as possible. A special unit is being set up within DVB, to handle further partner relationships and international tie-ups.

DVB is confident that LMT will succeed in promoting financial inclusivity among a large segment of customers in Sri Lanka.

DVB offers customers a friendly, quick and hassle-free service. As one of the youngest commercial banks in the country, DFCC Vardhana Bank has introduced attractive and flexible banking solutions to customers over the past 10 years, a bank spokesman said.