Best Banks for Expats in Sri Lanka ? Banking ? Money Transfers

Best Banks for Expats in Sri Lanka

If you have taken the decision to either invest or to live in Sri Lanka, you are most probably in search of the best Banks in Sri Lanka for expats. Fortunately, most local, foreign and international banks in the country offer customers the possibility of opening bank accounts before they actually move to Sri Lanka. The choice of bank will depend on your requirement. Some banks are well-suited for investors who look to deal with large sums of money while other banks offer better facilities for small business owners, families and start-up owners.

Here Are Some of the Best Banks in Sri Lanka for Expats

Once you?ve zeroed in on a bank, you will most probably have to make a quick visit to Sri Lanka to set up your bank account. Most banks will request for the following documents to proceed.

  • Copy of a valid passport
  • Copy of your visa
  • The bank?s own application form

Depending on the type of bank account you are setting up and whether you hold a Sri Lankan resident visa or temporary visa, you may have to provide additional documents to open the bank account. Hence, it is a good idea to speak with the bank to clarify all details before you leave for Sri Lanka. Alternately, you could ask your local accountant or company secretary to confirm the information you require.

Once you?ve opened the bank account, the bank will send you the bank cards through registered post. This will take some time and until then you?ll have to visit the bank in person to do further transactions.

Transferring Money

Apart from banks which charge high fees to conduct international transaction, there are other safe and legal methods to move your money to the country. Moneycorp and HALO Financial provide more inexpensive yet secure alternatives. If you simply want to transfer a relatively small amount of money to Sri Lanka, Transferwise is a recommended choice.

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