State banking giant People’s Bank has introduced ‘People’s eRemittance’ – a web-based product supported by the latest technology to facilitate sending remittances to Sri Lanka within minutes. The aim is to offer new technology and system automations to ensure a speedy and smooth customer service.

People’s eRemittance enables remitters abroad to send money through Correspondent Agents of People’s Bank. Presently this service is available through Correspondent Agents/Exchange Companies in Australia, Israel, Saudi Arabia, Kuwait, Qatar and the UAE. This service will be available in future from many more Correspondent Agents of People’s Bank.

Through this service, remitters abroad can send money to any beneficiary who resides anywhere in Sri Lanka. Remittance instructions received via People’s eRemittance are processed much faster than Telex/Fax instructions, with the beneficiaries receiving their money much faster. Most conveniently both the remitter and the receiver/beneficiary as well as all the agents using People’s eRemittance service can learn the status of the remittance, whether it has been paid or not, just by logging on to the website.

People’s eRemittance promotes the use of the internet as a medium of inexpensive, hassle-free data transfer over a secured website. With the user-friendly front end system coupled with state-of-the-art technology, it reduces remittance receiving/processing time, thereby increasing efficiency significantly. The access to People’s eRemittance system is password protected, ensuring secure data transfer.

The beneficiary need not necessarily have an account at People’s Bank or any other local Bank to receive the money. People’s Bank has introduced an over-the-counter cash payment method, called ‘CASHPICKUP’ for non-account holders, where they can obtain cash on producing a valid identity card.

Commenting on this service, Mr. N. Vasantha Kumar, SDGM – Treasury and International Business, People’s Bank said, “In a fast-paced world economy, we want our customers to be able to conduct their remittance requirements in a quick and efficient manner. As well as offering the best of technological developments, People’s Bank can provide a safe channel to the relief of both the sender and the receiver. At People’s Bank we are always committed to improving our products and services, and this marks another such step. The customer’s convenience is our top priority. ”

People’s eRemittance provides the convenience of receiving money through the largest branch network of a single bank in the country. Within this network, 418 service points are online while another 140 points are computer linked, ensuring speed, convenience and reliability to all customers. It also has over 200 ATMs island wide. The total assets base of over Rs.400bn and a deposit base of Rs.305bn displays the strength of People’s Bank. Over 10mn loyal customers stand proof of this. The Bank won the ‘Service Brand of the Year’ award at the People’s Awards 2008, and was also voted the ‘Best Loved Bank’ in the Banking and Financial Sector for the third consecutive year.

For further details, please contact Mr. W. D. Dayananda, Assistant General Manager, Overseas Customers Service on tel: +94 11 2332751 or Mrs. Aruni Liyanagunawardana, Manager – People's eRemittance on tel: +94 11 2437725