Regulatory Alerts2016-02-01 | 02/17/500/0012/001Display of Interest Rates, Exchange Rates, Service Charges, Fees and Commissions
The Central Bank of Sri Lanka requires all licensed commercial and specialised banks to display customer fees for fund transfers via the LankaSettle, SLIPS, and CEFTS systems in all branches and on their websites. This mandatory disclosure must commence on 10 February 2016 and follow a standardized table format reflecting rates periodically determined by the regulator. The directive supersedes previous guidelines to ensure consistent and transparent pricing for electronic payment services across the banking sector.
[LOGO] ශ්රී ලංකා මහ බැංකුව இலங்கை மத்திய வங்கி CENTRAL BANK OF SRI LANKA
01 February 2016 | CIRCULAR | Ref: 02/17/500/0012/001
Bank Supervision Department
To: The Chief Executive Officers of Licensed Commercial Banks and Licensed Specialised Banks
Display of Interest Rates, Exchange Rates, Service Charges, Fees and Commissions
Reference our previous Circular dated 06 June 2011 on the above subject.
All licensed banks are required to display fees charged from customers, for fund transfers through LankaSettle System, Sri Lanka Inter Bank Payment System and Common Electronic Fund Transfer Switch in all branches and publish same in banks’ web sites in the following suggested format, commencing 10 February 2016. These fees so disclosed shall be the fees determined and communicated by the Central Bank of Sri Lanka from time to time.
| Description | Fee (Rs.) |
|---|---|
| Fund transfers through the LankaSettle system | |
| Fund transfers through the Sri Lanka Inter Bank Payment System | |
| Common Electronic Fund Transfer Switch (CEFTS) | |
| - Fund transfers through internet banking | |
| - Fund transfers through mobile banking | |
| - Fund transfers through over-the-counter | |
| - Fund transfers through [Name of the Bank] ATMs | |
| - Fund transfers through ATMs of other CEFTS members |
[Signature]
Mr A A M Thassim Director of Bank Supervision
6 වන මහල, අංක 30, ජනාධිපති මාවත, | 6 ஆம் மாடி, இல. 30 ஜனாதிபதி மாவத்தை | Level 6, No. 30, Janadhipathi Mawatha, Colombo 1 තැ. පෙ. 590, කොළඹ 01, ශ්රී ලංකාව | த. பெ. இல. 590, கொழும்பு 01, இலங்கை | P. O. Box 590, Colombo 01, Sri Lanka. 📞 94 11 2477100/659 | 📠 94 11 2477711 | 📧 banksup@cbsl.lk | 🌐 www.cbsl.gov.lk