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2015-08-06 | Payment and Settlement System Circular No 2 of 2015

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Maximum Limit on Transaction Fees of Sri Lanka Interbank Payment System

The Central Bank of Sri Lanka issued Payment and Settlement Systems Circular No. 02 of 2015 to rationalize customer fees for transactions conducted through the Sri Lanka Interbank Payment System. The regulation mandates that the maximum fee charged to customers for any fund transfer via SLIPS shall not exceed Rs. 50 per transaction. This directive became effective on 01 September 2015 to promote electronic payments by providing cost-effective banking facilities to the public.

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CENTRAL BANK OF SRI LANKA

Payments and Settlements Department

06 August 2015

Payment and Settlement Systems Circular No. 02 of 2015

To: The Chief Executive Officers of Licensed Banks and Licensed Finance Companies

Maximum Limit on Transaction Fees of Sri Lanka Interbank Payment System

This Circular is issued in terms of Section 44 of the Payment and Settlement Systems Act, No. 28 of 2005 to rationalize customer fees levied on transactions effected through the Sri Lanka Interbank Payment System (SLIPS) in order to promote electronic payments by providing cost effective banking and payment facilities to the general public.

  1. The maximum fee that can be charged from a customer for effecting a fund transfer through SLIPS shall not exceed Rs. 50 per transaction.

  2. This Circular shall come into operation with effect from 01 September 2015.

(Mrs) R A S M Dayarathna
Director Payments and Settlements

Level 8, No. 30, Janadhipathi Mawatha, Colombo 1 P.O. Box. 590, Colombo 01, Sri Lanka. 94 11 2477042/525 94 11 2387009 psd@cbsl.lk www.cbsl.gov.lk

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Payment and Settlement Systems …2005Payment and Settlement Systems Act, No. 28 of 2005 (2005-09-20)Maximum Limit on TransactionFees of Sri Lanka Interbank P…2015-08-06 · this documentMaximum Limit on Transaction Fees of Sri Lanka Interbank Payment System (2015-08-06)
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Source: Central Bank of Sri Lanka — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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