Regulatory Alerts2017-07-20 | Payment and Settlement System Circular No 8 of 2017Maximum 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. 08 of 2017 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 a specific limit of Rs. 20 billion for payments to Sri Lanka Customs. Additionally, it establishes maximum service fees of Rs. 50 for digital channels and Rs. 100 for over-the-counter or inter-bank ATM transactions, replacing the previous 2015 circular effective 20 July 2017.
Share