ComBank launches Remittance Card
The Commercial Bank of Ceylon has launched one of Sri Lanka's first
Remittance Cards to add convenience to the process of transferring funds
from overseas to local beneficiaries.
A branded debit cum ATM Card licensed by Visa Inc. and issued locally
by Commercial Bank to recipients of remittances, the new Remittance Card
eliminates the need to visit a branch of the bank to collect remitted
Instead, it permits an overseas sender to deposit funds directly into
a beneficiary's account via Commercial Bank's e-Exchange platform. The
funds may be withdrawn from any ATM across Sri Lanka at the recipient's
"This is a simple and extremely logical solution with several
benefits," Commercial Bank's Chief Operating Officer. S Renganathan
said. "It is a secure option for receiving cash and promotes the savings
habit while ensuring that the funds are easily accessible 24/7."