Sending Money across the globe has become quite easy due to digital advancements. Let us see some quick and easy ways to send money to Sri Lanka. Today, with the growth of digitalization, sending Money overseas has become quite convenient. You have various options available for international money transfer service, and you may choose one depending on your need. Your bank or setups like Western Union can easily assist you in sending money overseas.
Reasons to Send Money to a foreign country:
People may send Money to Sri Lanka due to a variety of reasons:
1. Sending Money to family or friends – There is a chance that you grew up in Sri Lanka and have now shifted to another country for work. Since your family still relies on your income, you may need to send them money regularly, and you need an option that can transfer funds safely.
2. Investment abroad – You may plan to invest in a property abroad and may need to transfer funds to a foreign location.
3. Sending Money for studies – You or your kids might be planning to study in Sri Lanka. You may need to transfer the fees from time to time and take care of the yearly personal expenses.
4. Planning a destination wedding – you may be planning a grand wedding on the shores of the sea. If you plan to get the booking done, you need to transfer funds ahead of time.
5. Planning to travel overseas – You may plan a relaxing vacation to the mesmerizing beauty. Traveling overseas may be expensive, so you must book everything beforehand. You may need to transfer funds ahead of time by sending Money internationally.
Best Way to Transfer Money to Sri Lanka:
1. Bank
Almost every bank offers the facility of wire transfers. This is the simplest way of transferring funds as you already have an account in the bank. The bank will let you know the process and activate your overseas transfers. Once the setup is active, you can easily transfer to the desired account. The rates to transfer the Money will vary from bank to bank. It generally takes 2 – 3 working days to process such transfers.
2. Western Union
It is one of the oldest setups to send Money across the globe. Western Union can help to transfer money to more than 200 countries. It also has physical branches across the globe. You can visit the branch to get the needful done if you do not wish to conduct an online transaction. The recipient can also visit the local Western Union branch to collect the funds. Western Union is considered the best international money transfer service as it is hassle-free, involves minimum paperwork, and has no delays in remittances. The normal rates are about 1-5% as per the location. Transfers may take about a week, but you may pay an additional charge for faster processing.
3. PayPal
PayPal is another fast way to remit Money digitally and internationally. The Money gets remitted easily from your PayPal account and is credited to the recipient’s PayPal account. The process is completely digital. Your bank account gets linked to the PayPal account to carry out the transfers. PayPal charges up to 2% fees to send money.
Conclusion:
There are numerous options available to remit the funds internationally. You need to check them at your convenience, compare the charges, and determine the time involved in the remittances.
