Regulatory Alerts2020-06-08 | Payment and Settlement System Circular No. 16 of 2020Maximum Limits on Transaction Value and Fees of Common Electronic Fund Transfer Switch
The Central Bank of Sri Lanka issued Payment and Settlement Systems Circular No. 16 of 2020 to regulate transaction values and fees for the Common Electronic Fund Transfer Switch (CEFTS). The directive caps standard fund transfers at Rs. 5 million per transaction, with higher limits for specific government payments, while restricting fees to Rs. 50 for digital channels and Rs. 100 for over-the-counter or inter-bank ATM transactions. This circular replaces Circular No. 12 of 2020 and became effective on 15 June 2020.
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