What is Internet Banking Sri Lanka

Wednesday, August 10, 2011 |

Even those slow to warm up to technology are beginning to use internet banking. It is often more convenient than banks that do not have such services. Sooner or later, most people find it hard to resist. Yet some still do not know what internet banking is.



You can make a variety of transactions by way of internet banking. You can pay bills directly from your checking account. This saves you the cost of a stamp. It also gives you more leeway in how quickly you need to pay the bill. If you have to mail it, you have to send it out long ahead of time.

Funds can be transferred from a checking account to a savings account, or vice versa. You can fill out loan applications for anything from signature loans to mortgages online. You can even use internet banking for investments. All these services are available at both types of banks.

You can view your transactions whenever you want. If you have software for your computer, you can download the information from your internet banking account to your virtual check register, in Quicken for example, and reconcile automatically.

You can access your internet banking account any time, day or night. As long as you have an internet connection of any kind, you are in business. You can do your banking from a laptop in a hotel room, or from the computer in your home. You will find it easy to get the information and do the transactions you want.

Extra caution is taken when setting up internet banking systems. If you have an account online, you will have a complex password. The information will be encrypted. There might be security images you can choose from that no one would have a way of knowing. Furthermore, if you try to make risky transactions, you will be asked more security questions.

Online banking is becoming more and more popular. You can do most of it without leaving your home, if you wish. Internet banking is a safe and convenient way to handle your money.

Sampath Bank launch fund transfer service with ICICI Bank

Wednesday, May 11, 2011 |

India's largest private lender ICICI Bank has tied up with Colombo-based Sampath Bank PLC to launch an online cross-border money transfer facility between the two countries. 

Money2SriLanka (M2SL) is a web-based online platform which facilitates the sending of remittances from various geographies to beneficiaries in Sri Lanka in a convenient and economical manner, ICICI Bank said. 

"We remain committed to extend expertise in the cross border payments business and the online tracking service for money transfers is the first step towards creating a remittance platform for Sri Lanka," an ICICI spokesperson said in a statement here. 

The remittance received through M2SL is available for account holders of ICICI Bank Sri Lanka and Sampath Bank instantly on the day of receipt of funds and the remittances received on behalf of account holders of other banks in the island nation. 

It will be then disbursed via Sri Lanka Interbank Payment System (SLIPS) with the same day value, subject to cut off timings for processing of the payments. 

The service will be soon piloted in Canada and the UK and will shortly be rolled out in Australia, the US, South East Asia and the Euro Zone in the second phase.