Send Money to Sri Lanka Securely

Information verified correct on January 20th, 2017

Sending money to Sri Lanka doesn’t have to break the bank.Sri Lanka Here’s how to send a secure and affordable transfer from the U.S. to Sri Lanka.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Sri Lanka doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Sri Lankan rupees for your dollar.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Sri Lanka is easy. However, do your research and shop around for the best available deal.

Compare International Money Transfers

Rates last updated January 20th, 2017

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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
Rates are always
changing, click to check
your price today
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WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
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World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
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changing, click to check
your price today
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Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
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changing, click to check
your price today
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HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
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changing, click to check
your price today
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Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
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changing, click to check
your price today
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OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
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changing, click to check
your price today
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Sri Lanka. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

Banks versus money transfer companies

The Sri Lankan rupee is a rare currency in global terms, so you’ll have to check with your bank to see whether or not you’ll be able to send Sri Lankan rupees overseas from your bank account. Alternatively, you may need to send U.S. dollars overseas that can then be converted into the local currency by the receiving bank.

In any case, banks are typically not the best option when you need to send an international money transfer. They offer poor exchange rates and charge high fees. You can usually save money if you use the services of a dedicated money transfer company. These companies offer fast and affordable transfers, which usually means they offer better exchange rates and lower fees than the major banks.

Case Study: James Sends Money to Sri Lanka

James is working in the United States and he would like to send some money back home to his mom and dad. His bank is only a relatively small institution that doesn’t offer international transfers to Sri Lanka, so he decides to shop around for the money transfer company that offers the best deal. He compares the features of two online transfer providers.

Money transfer company 1Money transfer company 2
Exchange rate$1 USD = $130.92 LKR$1 USD = $133.19 LKR
Transfer fee$14$10
Transfer methodBank account depositCash pickup
Processing time2 business days10 minutes
Amount received (in LKR)$130,920 LKR$133,190 LKR

As you can see, James’ parents will receive an extra $2,270 LKR if he uses the second transfer company, while he can also pay a smaller fee and get the funds to his parents  faster.

How to compare transfer companies when transferring money to Sri Lanka

  • Exchange rates. As James’ example shows, a small difference in exchange rates equates to a whole lot of money when you calculate the full cost of your transaction.
  • Fees. Compare the transfer fee that will apply to each transaction, and remember that companies with higher fees sometimes offer better exchange rates than their competitors.
  • Transfer methods. Can you make transfers online or in person? What about by making a phone call or using a smartphone app?
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments?
  • Turnaround time. Some companies can make your funds available for pickup in minutes, while others will make you wait several business days for the transaction to be completed.
  • Minimum transfer amount. If a company imposes a minimum acceptable transfer limit, consider whether this limit is suitable.
  • Pickup methods. Will the funds be sent to a bank account, or be made available for collection in person? If your recipient will visit a branch to collect the funds, what sort of network does each provider have in Sri Lanka?
  • Customer service. Phone, email and live chat customer support can be important if you experience a problem with a transfer.
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

How to send money to Sri Lanka from America

  • Bank transfers. Ask your bank to see if it is possible to send an international money transfer to a bank account in Sri Lanka.
  • Online money transfer providers. Companies such as WorldRemit and Xoom offer online transfers to Sri Lanka.
  • Money transfer companies with cash pickup options. Providers like Western Union and MoneyGram allow you to send funds to Sri Lanka that can be picked up at a branch.
  • Checks. Another transfer option to consider is to send an international guaranteed check.
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Emergency cash transfers in Sri Lanka

If you need to send cash to Sri Lanka fast, keep in mind that you will usually be charged high fees and receive poor exchange rates. This means you should take care to check exactly how much your transaction will cost, including the exchange rate you will receive and any extra charges that may apply.


Find a money transfer location near you

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Tips for picking up cash in Sri Lanka

If you pick up a cash transfer from a money transfer agent in Sri Lanka, remember to exercise safety precautions.

  • Don’t wave your cash around in front of strangers.
  • Keep your personal belongings secure at all times.
  • Avoid any high-crime areas.
  • Don’t carry around large sums of money, and deposit your cash into a bank account as soon as possible.

How to send money to Sri Lanka

Although transfer methods vary depending on the provider you choose, there’s a good chance you’ll need to register for an account before you send any funds. This is usually done by providing your name and contact details, your address and proof of your identity. Once you’ve placed a transfer request, most companies will provide you with a receipt or a transaction reference number, which you can use to monitor the status of your transaction.

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US International Money Transfers Offers

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WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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