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 funds.

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 The funds may be withdrawn from any ATM across Sri Lanka at the recipient's convenience.

"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."