Individual Stored Value, Day, and Transaction Limits for Customer e-Money Accounts

f.ùï iy mshùï fomd¾;fïka;=j nfhLg;gdTfs;> jPh;g ;gdTfs; jpizf;fsk; Payments and Settlements Department 8 jk uy," wxl 30" ckdêm;s udj;" 8 Mk; khb> ,y. 30 rdhjpgjp khtj ;ij nfhOk;G 1 Level 8, No. 30, Janadhipathi Mawatha, Colombo 1 ;e ' fm ' 590" fld nfhOk;G 01> ,yq;if P . O. Box. 590, Colombo 01, Sri Lanka.  94 11 2477042 94 11 2387009  psd@cbsl.lk  www.cbsl.gov.lk 29 December 2023 Payment and Settlement Systems Circular No. 4 of 2023 To: CEOs of Licensed Operators of Mobile Phone based e-Money Systems Individual Stored Value Limits, Day Limits and Transaction Limits Applicable for Customer e-Money Accounts This Circular is issued to specify the individual stored value limits, day limits and transaction limits applicable for e-money accounts as per regulation 18 of the Payment Cards and Mobile Payment Systems Regulations No. 1 of 2013 and the Mobile Payments Guidelines No. 2 of 2011 for Custodian Account based Mobile Payment Services.

1. Applicable Limits
   1.1 Individual Stored Value Limit
   a. Enhanced e-money accounts – Maximum hold value Rs. 150,000.00 b. Basic e-money accounts – Maximum hold value Rs. 20,000.00 a. Enhanced e-money accounts Operators of mobile phone based e-money systems shall allow the maximum hold value of Rs. 150,000.00 only for e-money accounts that have completed enhanced Know Your Customer (KYC) requirements. b. Basic e-money accounts Operators of mobile phone based e-money systems shall allow the maximum hold value of Rs. 20,000.00 only after verifying the customer’s information obtained at the time of issuing a SIM. Verification shall be done through a secondary source such as a video call, visit to a customer care centre or by any other suitable means. For e-money accounts that do not have verified customer information as described above, the maximum hold value shall remain at Rs. 10,000.00.
   1.2 Day Limits
   a. Enhanced e-money accounts
   The total amount of e-money received and/or topped up to an enhanced wallet shall not exceed Rs. 150,000/- per day and the total amount of e-money transferred and/or withdrawn from an enhanced wallet shall not exceed Rs. 150,000/- per day. Contd.

2 b. Basic e-money accounts
The total amount of e-money received and/or topped up to a basic wallet (subject to the conditions in 1.1.2) shall not exceed Rs. 20,000/- per day and the total amount of e-money transferred and/or withdrawn from a basic wallet shall not exceed Rs. 20,000/- per day.
1.3 Transaction Limits
The individual stored value limit of the e-money account shall be the maximum limit per transaction for each type of transaction facilitated by the mobile phone based e￾money system.
2. This Circular will be effective from 01 January 2024.
K V K Alwis
Director
Payments and Settlements