FOREIGN EXCHANGE | Cesar Tordesillas, India

Seylan's 1st half remittances reach $110.4M

Personalised service to Sri Lankan overseas workers allowed Seylan Bank to disburse US$110.48 million in remittances in the first semester.While worldwide money transfers such as MoneyGram, Xpress Money, Instant Cash, SAMBA, SpeedCash, Ez Remit, AFX Fast Remit, and also SWIFT remittances via Banks and also other financial institutes such as exchange houses have contributed towards the volume, it is the Bank that gained the faith and confidence of Sri Lankan overseas workers by personally reaching out to them.The Bank keeps in touch with the large Sri Lankan overseas workers around the world through various societies, welfare association, sports clubs and foreign missions which organise regular events for Sri Lankan nationals resident in those countries such as Independence Day, Sinhala & Tamil New Year, Vesak, and cultural shows. Seylan Bank also actively teams up with the numerous popular and well attended musical shows concerts where Sri Lankan bands and artists perform, and which draw large crowds.As part of a personalized campaign, officials from the Seylan Bank regularly meet groups of Sri Lankans working overseas and appraise them of the Bank's valued added foreign currency accounts and the range of remittance services offered. This has proved to be a very effective means of communication, bringing the Bank valuable first-hand customer feedback."We have, in fact, put in place a totally holistic approach in harnessing the earnings of Sri Lankan expatriates. This not only helps swell the country’s foreign currency reserves, but also facilitates hassle-free remittances to their dependents," said Seylan Bank Chairman Eastman Narangoda.Seylan Bank also harnessed the resources of the print and electronic media to reach Sri Lankan expatriates overseas. The Bank's website also receives several thousand hits a day from all parts of the world.In addition to its well developed multi channel delivery of services, the Bank also maintains a 24 hour - 365 day banking outlet at the Seylan Towers in Colombo 03, that enables the receipt of urgent remittances to beneficiaries in Sri Lanka on a continuous basis.

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