Xoom, a US-based digital money transfer provider, has teamed up with Sampath Bank to expand its money transfer service to Sri Lanka.
As part of the partnership, Xoom will provide instant deposits to Sampath Bank accounts in Sri Lanka.
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Additionally, Xoom will also offer bank deposits within 24 hours to other banks in Sri Lanka, including Hatton National Bank, Bank of Ceylon, Peoples Bank, Commercial Bank, and more.
Xoom will also allow Sri Lankan immigrants to send money securely from their computer, tablet or mobile phone directly to any current account in the country.
The service will charge a processing fee of $4.99 for sending up to $1,000 when paying with bank account.
Xoom president and CEO John Kunze said: "With our breakthrough technology, Sri Lankans in the U.S. can securely, conveniently, and cost-effectively send money to their friends and family back home."
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By GlobalDataSampath Bank senior manager of remittances Kusal De Silva said: "This is yet another step by the bank to provide an even more convenient service for its customers. Through our collaboration with Xoom, families in the U.S. can send money to their loved ones in Sri Lanka instantly and safely."
