Regulatory Alerts2015-08-06 | Payment and Settlement System Circular No 2 of 2015Added · Updated
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.
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.
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The maximum fee that can be charged from a customer for effecting a fund transfer through SLIPS shall not exceed Rs. 50 per transaction.
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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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