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SRI-LANKA

Send Money from India to Sri Lanka with BookMyForex

The strong cultural and economic ties between India and Sri Lanka have fostered a significant flow of foreign remittances. Whether you’re supporting family, friends, or business ventures, sending money from India to Sri Lanka can be a common need. BookMyForex simplifies this process, offering competitive rates, swift transfers, and exceptional service. Regardless of the purpose, we ensure your funds reach their destination securely and efficiently.

Exclusive Tie-Ups With Leading Banks for International Money Transfer 

BookMyForex has forged special partnerships with leading Indian banks such as Yes Bank and RBL Bank to provide a robust platform for seamless and efficient international money transfers. This collaboration ensures our customers benefit from a secure, swift, and cost-effective service when sending money abroad.

Ways of Sending Money to Sri Lanka from India:

You have primarily two ways to transfer money abroad:

1: Wire Transfer (swift transfers)

2: Demand Drafts (money orders)

What is a Wire Transfer?

Wire transfers are a popular method for sending money to Sri Lanka, but they can be costly and time-consuming. Traditional banks often impose hefty fees on it. BookMyForex offers a more efficient and affordable alternative. You can enjoy the convenience of online booking and avoid exorbitant bank fees with our platform.   

What is a Foreign Currency Demand Draft?

Demand drafts are physical paper drafts that are issued in a specific currency and can be encashed at a local bank in Sri Lanka. The one thing to keep in mind is this method is much more time-consuming whereas a wire transfer only takes 12 to 48 hours to complete.

How to Transfer Money from India to Sri Lanka with BookMyForex?

Tired of the hassle and hidden fees when transferring money to Sri Lanka? BookMyForex offers a fast, easy, and affordable solution. Transfer your money in as little as 12 hours with our simple online process. Here’s what you need to do:

1. Set Up Your Transfer: Enter the amount and select your currency to check rates and fees instantly

2. Upload Documents: Upload the necessary documents based on the purpose of your transfer 

3. Add Recipient Details: Share the beneficiary’s bank account details

4. Make Payment: Pay via UPI, net banking, or other methods. Your transfer will be processed after a quick verification

*Educational remittances are processed within 6 hours; all other remittances are processed within 12-48 hours.

Why is BookMyForex the Best Platform for International Money Transfers?

BookMyForex stands out as a preferred choice for international money transfers due to several key advantages:

1. Save Big: Enjoy significant savings on every transaction compared to traditional banks as we offer you the best possible deal on money transfers to Sri Lanka.

2. Best Exchange Rates: We offer live and transparent exchange rates, ensuring you get the maximum value for your money.   

3. Zero Transfer Fees: Unlike traditional options, we don't charge any transfer fees, saving you significant costs.   

4. Safe and Secure: Your money is transferred through trusted partner banks, guaranteeing security.   

5. Quick Transfers: Your money reaches its destination in Sri Lanka within 12-48 business hours.

6. Convenient Process: Our online platform allows you to book transfers online from the comfort of your home.

7. Lock in Your Rate: Protect yourself from fluctuating exchange rates with our 'Book Now, Pay Later' option. Secure your desired rate for up to 3 days with a 2% refundable deposit.

8. No Hidden Fees: We provide clear information about exchange rates and charges, with no hidden fees.   

9. Excellent Customer Support: Our dedicated team is always ready to assist you with any queries.   

10. Student Friendly: Students can take advantage of exclusive discounts and offers to make international transfers more affordable.

Factors to Consider When Sending Money from India to Sri Lanka

1. Exchange Rate: Maximizing your money starts with finding the best exchange rate. Compare rates offered by different services to ensure you get the lowest rates.

2. Transfer Fees: Hidden charges can eat into your savings. Understand the complete fee structure upfront to choose the most cost-effective option.

3. Transfer Speed: Need to send the money urgently? Opt for a faster transfer service. If time isn't critical, explore slower, more affordable options.

4. Service Provider: Select a reliable service provider with a strong reputation and partnerships with authorized banks. 

5. Regulatory Compliance: Ensure your chosen service provider complies with all relevant regulations to avoid delays or issues with the transfer.

6. Security: Safeguard your financial information by choosing a platform with robust security measures. Prioritize services that protect your personal data.

7. Tax Collected at Source (TCS): Be aware of TCS regulations. For education and medical remittances, a 5% TCS applies, while other remittances exceeding INR 7 lakh in a financial year are subject to a 20% TCS. Transfers below INR 7 lakh within a financial year are exempt.