Money transfer services are essential for centralizing nations and people. They work hand in hand with banks to deliver money to the interested clients worldwide and facilitate people wherever they are. Whether you have a business abroad or you are working in some foreign company, you need to transfer your hard earned money to your loved ones back in Sri Lanka. Due to the availability of a huge number of money transfer services worldwide, choosing the Best becomes difficult for many people. In this article, some of the best money transfer Services in Sri Lanka would be reviewed.
Being the pioneer in the e-commerce sector of Sri Lanka, Kapruka has also established itself as the best remittance service company of Sri Lanka. With an experience of over ten years in the business, Kapruka brand is well recognized all over Sri Lanka and Sri Lankans overseas. Its website provides an easy to use interface where the only thing you need for a transaction is the money and a connection online! The process is quite simple, as all you have to do is type in your payment information, select how much you’d like to pay, and then choose where it’s being sent and to whom. Once you do that, you’re all set! While you are transferring your money through Kapruka, you don’t have to worry about any restriction on the sum of money that is to be sent as well. Their website is fully PCI compliant and follows world class security measures to provide users with a safe and secure payment option. Kapurka also offers the most competitive exchange rates and have a fantastic customer service. If you are looking to transfer your money, Kapurka is our best-recommended option for you.
Being the inventor of the wire transfer in 1851, Western Union is primarily known for its bank transfer, money order, and bill payment services worldwide. It also offers the ability for businesses to send and accept international ACH payments online through its WU EDGE service, and its app allows users to schedule wire transfers to most Western Union locations throughout the Sri Lanka. With its Largest network of agent locations worldwide, it allows you to transfer money through various channels such as its website, mobile app, or over the phone, whichever is most convenient. Its website is secure and does not keep track of your credit card credentials once a transaction is done successfully. However, the downside of this company is its expensive rates for some specific countries, because of which we have listed it as second.
is another money transfer company that offers a digital alternative to traditional cash-based money transfer operators to send your money to Sri Lanka. With its user-friendly website with a sleek design and dedicated mobile apps for both Android and iOS, Azimo allows you to send money conveniently from anywhere and at any time. It also has the option of transferring money from your credit card, local bank to your loved ones in Sri Lanka. Their fee is competitive and offers excellent exchange rates as well which place it on 3rd number of this list.
TorFX is another key competitor in remittance industry of Sri Lanka and globally. It offers one of the best exchange rates and allows the users to choose to trade online or over the telephone. By a simple process of opening an account, agreeing to a rate with your personal Account Manager and receiving an order confirmation, you’ll be asked to supply details of the beneficiary account before sending your funds to your TorFX client account. After the funds have cleared, your foreign currency is immediately sent to your recipient’s account in Sri Lanka. The website is easy to use, and the company assures you of securing your important credentials.
Moneygram is a key player in global remittance industry. Currently, it ranks as the second largest money transfer company with a huge number of agent locations around the world. It allows you to send and receive cash within minutes in over 350,000 agent locations across the world. It lets you send your money through the MoneyGram mobile app in the US, the UK, and Germany, using a debit card, credit card to your loved ones in Sri Lanka. With all these positive sides, the reason we have placed this on 5th number of our list is its downside of expensive rates, as the service can have higher fees and poorer exchange rates than those of specialized online providers. Another downside of Moneygram is that its online service and mobile apps are currently only available in the UK, the US, and Germany.