The Government Information Center

• Inter branch fund transfers(On line banking services)
• Deposits, withdrawals, inquiries etc could be done freely, through out the branch network all over the island.

Slip Transfers (SLIPS)

1. Facility to transfer salary or any other remittances to various Bank branches on the due date.
2. Safer and secure way to transfer funds to a Rupee Account at another local bank.
3. Crediting and debiting of accounts are handled more promptly and accurately without needing to write cheques, pay orders or vouchers.
4. Benefits–Speed, Secure, Safe Payments can be made to Commercial Banks Helps you gain better control of your financial position and avoid cheques.
5. Features –These payments can be made only in LKR, within commercial banks & National Savings Bank.

RTGS

• Real Time Gross Settlement System (RTGS) was introduced to the Sri Lanka by the Central Bank of Sri Lanka to the National Payment Systems with effect from 8th September 2003.
• By using this system high value rupee money transfers are taken place between the participant financial institutions.
• System is open for regular transactions from 8.00 a.m. to 3.00 p.m. for customers and up to 4.30 p.m. to member banks.
• At present under mentioned types of financial institutions have been authorized to participate at RTGS system,

1. Central Bank(CB)
2. Licensed Commercial Banks (LCB)
3. Authorized Primary Dealers (PD)
4. Employee’s Provident Fund (EPF)

• Customers of Commercial Banks are able to use the RTGS System to make high value money transfers between the participant banks.
• i.e.A customer of Bank ‘A’ needs to make a money transfer of LKR 5 Mn. to the credit of the customer of Bank ‘B’ the party can use this system to meet the money transfer.
• RTGS does not control on any ceiling or floor limits. Transmitted amount can be varied and will be effect at real time.
• System is capable of holding a future payment up to 10 working days.
• All same day transactions need to be reported before 10.30 a.m. to the Treasury Division and will be treated as the cut-off time for a Bank to Bank transfer for the same day.
• LKR 875/- is charged for an outward transfer originated by a customer at current tariff rate.
• Any customer who is interested in a RTGS transfer may contact contact BOC branch or the Treasury Division at +94-11-2445789 or +94-11-2203612.