- Sampath Bank has 229 branches across Sri Lanka
- Western Union and Sampath share the same values and both companies want to provide better money transfer services to their customers
- Sri Lanka is one of the biggest recipients of remittances in the region
International money transfer giant Western Union recently inked a deal with Sampath Bank, a leading commercial bank in Sri Lanka. The two companies aim to provide better money transfer services nationwide without recipients having to wait for days to get their funds from abroad. Western Union customers can now send money to Sri Lanka from over 200 territories and countries, according to reports.
Sampath currently has 229 branches in the country and its partnership with Western Union is expected to give better access and convenience to its account holders who regularly receive money from relatives who live and work overseas. The bank also has super branches that are open seven days a week. The new development underpins the efforts of both Sampath and WU to ensure that Sri Lankans abroad can send money to their families via a secure platform.
“Western Union’s global presence allows us to serve Sri Lankans in almost every country in the world and move their money with speed, convenience and reliability to their families back home”, says Sohini Rajola, Western Union’s Regional VP for South Asia and Indochina. Rajola adds that the payments specialist is “pleased” to work with Sampath as it has a “strong network” in the country. The two companies also share the same values, according to observers as they both want currency transfers to be hassle free for their clients.
Remittances are important to Sri Lanka’s economy with the country receiving an estimated $501 million from its overseas workers each year. Based on 2017 figures from the World Bank, Sri Lanka is among the top five remittance recipients in South Asia. Sampath “appreciates” the contribution of overseas workers to the country, according to the bank’s Remittances and Banking executive Kusal De Silva.
Take a look at our review of Western Union here.
