Pan Asia Banking Corporation (PABC) has partnered with the leading money transfer service provider Small World Financial Services to enable instant cross-border money transfers to bank accounts in Sri Lanka.
This enables the overseas customers such as Sri Lankan emigrants to instantly transfer money into the bank accounts of their family and friends, using Small World FS’ pay-in locations, call centres or website. For other bank accounts, Pan Asia Bank will disburse funds using the real-time fund transfer service, popularly known as CEFTS. The service is available 24/7 every day of the year.
The agreement represents another milestone for Small World FS, which takes pride in offering a wider choice to its customers on how they send and receive their money than any other money transfer business. Small World’s global reputation has also earned the trust of hundreds of the world’s largest financial institutions which have partnered with the company to facilitate its global pay-out network. PABC DGM Branch Credit Naleen Edirisinghe said, “Joining hands with one of Europe’s leading and most trusted payment service providers is yet another monumental milestone in our bank’s growth story. Without a doubt, this will further strengthen Pan Asia Bank’s ability to provide a broader range of banking services to our existing and potential customers. The inflows of remittances from the Sri Lankan diaspora community have contributed immensely to the macro and micro economic development of the country. Our partnership with Small World FS will help us do our bit for the migrants by providing a real-time, 24/7, seamless money transfer service.”
Small World FS Founder and CEO Nick Day commented, “The partnership with Pan Asia Bank will have an immediate impact on the user experience of our customers.
Instant bank transfers are the future of the money transfer market as the number of people and businesses with access to a bank account is growing worldwide.”
Products offered under this arrangement are credits to bank accounts in Sri Lanka and credits to selected credit cards.