ICICI Bank Lanka to launch Remittance Card

ICICI Bank Sri Lanka plans to launch a card-based remittance product to provide a convenient and hassle free alternative to receive remittances. This product will be available in the third quarter (July to September 2008) in the current financial year.

The remittance card is a Sri Lankan Rupee denominated card.

It is re-loadable for funding and can be used to withdraw money at over 1,000 Visa affiliated ATMs islandwide at no additional charge and merchant establishments in Sri Lanka. Only remittance-linked credits are permissible in the remittance card account.

This facility can also be availed by those beneficiaries who do not have a savings bank account with ICICI Bank in Sri Lanka.

Senior Vice President - ICICI Bank, Sri Lanka Sachin Sikka said, “The Sri Lankan remittance market is growing rapidly with migration of Sri Lankans to newer geographies. At ICICI Bank, customer convenience is used as a strategic tool across all our business lines, and the launch of remittance card is all about maximising convenience and benefits to both the remitter and beneficiary”.