Regulatory Alerts2020-04-20 | Payment and Settlement System Circular No. 12 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. 12 of 2020 to regulate transaction values and fees on the Common Electronic Fund Transfer Switch (CEFTS). The circular establishes a general maximum transaction value of Rs. 5 million, with higher limits for payments to Sri Lanka Customs and the Inland Revenue Department, while capping transaction fees at Rs. 50 for digital channels and Rs. 100 for over-the-counter or inter-bank ATM transfers. This directive replaces Circular No. 08 of 2017 and became effective on 27 April 2020.
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