Regulatory Alerts2020-04-06 | Instructions to CEOs of All Members of the CASWithdrawal Fee Charged from Senior Citizens for Cash Withdrawals through the Common ATM Switch (CAS)
The Central Bank of Sri Lanka directed all Common ATM Switch members to waive fees for senior citizens' cash withdrawals for two months starting April 1, 2020. Banks must immediately refund any fees charged to senior citizens during this period, while LankaClear agreed to waive its own associated fees. The standard interchange fee specified in General Direction No. 01 of 2020 remains applicable to all such transactions.
[Logo: ශ් රී ලංකා මහ බැංකුව / இலங்கை மத்திய வங்கி / CENTRAL BANK OF SRI LANKA] ගෙවීම් සහ පියවීම් දෙපාර්තමේන්තුව | கொடுப்பனவுகள், தீர்வகங்கள் திணைக்களம் | Payments and Settlements Department
Ref: 34/01/016/0016/001
06 April 2020
To: CEOs of All Members of the Common ATM Switch
Withdrawal Fee Charged from Senior Citizens for Cash Withdrawals through the Common ATM Switch (CAS)
Considering the request made by the government, all CAS members are hereby informed to waive off the fees charged from senior citizens for cash withdrawals carried out through the CAS network for a period of two months from 01 April 2020. Accordingly, the fees charged for the CAS withdrawals carried out by senior citizens from 01 April 2020 shall be refunded to respective accounts immediately. LankaClear (Pvt) Ltd.(LCPL) has agreed to waive off the fees charged by LCPL in respect of the withdrawals carried out by senior citizens during this period.
However, interchange fee specified in the General Direction No. 01 of 2020 – Fees Chargeable on the transactions effected through the Common ATM Switch dated 20 January 2020 shall apply for all cash withdrawals carried out through CAS.
[Signature] D Kumaratunge Director Payments and Settlements Department
ශ්රී ලංකා මහ බැංකුව, ත.පැ. 590, කොළඹ 01, ශ්රී ලංකාව | இலங்கை மத்திய வங்கி, த.பெ. இல 590, கொழும்பு 01, இலங்கை | Level 1, No 30, Janadhipathi Mawatha, Colombo 1, P. O. Box 590, Colombo 01, Sri Lanka ☎ 94 11 2477043/ | 📠 94 11 2387008 | 📧 psd@cbsl.lk | 🌐 www.cbsl.gov.lk