Send Money To Sri Lanka

Sri Lanka flagLearn how to maximize the power of your currency by reading our Sri Lanka Money Transfer Guide.

Whether you need to send money to a relative in Sri Lanka or want to invest in a new property, the best way to do it is through a Foreign Exchange (FX) company. The reasons are simple: lower fees, same day delivery and better exchange rates than any High Street banks. Don’t believe us? Take a look at the table below and see for yourself!

The Guide’s Topics:

Best Companies To Send Money To Sri Lanka

Payment Facility



TorFX logoMin. Transfer: £ / €100.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £5,000+
Expected Rates* for £5,000+:
- GBP: 274.5080 LKR to 275.0603 LKR
- EUR: 235.3040 LKR to 235.7775 LKR
- USD: 197.8179 LKR to 198.2160 LKR
TorFX Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: 1% for amounts above 15,000 LKR with minimum fee of 150 LKR

Expected Rates*:
- GBP: 273.4034 LKR
- USD: 197.0219 LKR
- EUR: 234.3571 LKR
Transferwise Review
Azimo logoMin. Transfer: No Limit.
Transfer: Online Only.
Wire Fees: £ / € 1 - 12 (Depends on Speed).

Expected Rates*:
- GBP: 272.8510 LKR
- EUR: 233.8837 LKR
- USD: 196.6239 LKR
Azimo review
currencyfair logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: € 3

Expected Rates*:
- GBP: 273.4034 LKR
- USD: 197.0219 LKR
- EUR: 234.3571 LKR
Currencyfair review
Sri Lanka BankBig International Transfer Fee + Commission On Currency Exchange. Bad Currency Exchange Rate.

Exchange rate would be approximately *:
- GBP: 270.6417 LKR to 273.4034 LKR
- EUR: 231.9899 LKR to 234.3571 LKR
- USD: 195.0318 LKR to 197.0219 LKR
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick But Very Bad Currency Exchange Rates.

Exchange rate would be approximately *:
- GBP: 269.2609 LKR or worse
- EUR: 231.9899 LKR or worse
- USD: 195.0318 LKR or worse

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Supported Countries & Payment methods

TorFX is a great solution for when you need to make a money transfer to Sri Lanka as they can provide a zero fee transfer and a good tool for those that are interested in buying a property abroad. The latter is especially a good idea when you take into consideration the fact that this FX company will provide a superior currency exchange rate than any of your local banks.

MoneyCorp is another company we recommend checking out because of two main benefits:

  1. It has over 35 years of experience in the market. This is great news for those that are a little “scared” of using new companies and will rather stick with banks and pay more.
  2. The minimum transfer amount is only €50. They are a good solution for those that need to make smaller transfers as most of the FX companies have higher minimums.

Best Company to Send Money from Sri Lanka

Service Provider



TorFX logoMin. Transfer: $/€ 100.
Transfer: Online or by Phone.
Why Them? Staff of over 100 Traders. 9.4 / 10 Rating by Clients.
TorFX Review

How to send money from Sri Lanka

For the past few years, a number of foreign exchange rules have been relaxed in order to create a business environment and to facilitate the growth of the private sector. This translates into minimum restriction as far as the money transfers are concerned. Furthermore, FX companies can provide their services to customers from all regions of the country.

Currencies: We recommend using TorFX when sending money from Sri Lanka because they have access to a big database of currencies. With over 100 international currencies at their disposal, you can confidently send money to the location of your choosing without fearing that it can be supported.

Today’s Foreign Exchange Rates for LKR

GBP to LKR – Pounds to Sri Lankan rupee; 10,000 GBP is 2,761,650.0000 LKR

LKR to GBP – Sri Lankan rupee to Pounds; 10,000 LKR is 36.2102 GBP

LKR to CAD – Sri Lankan rupee to Canadian Dollars; 10,000 LKR is 62.4004 CAD

CAD to LKR – Canadian Dollars to Sri Lankan rupee; 10,000 CAD is 1,602,554.4311 LKR

AUD to LKR – Australian Dollar to Sri Lankan rupee; 10,000 AUD is 1,496,253.4743 LKR

LKR to AUD – Sri Lankan rupee to Australian Dollar; 10,000 LKR is 66.8336 AUD

LKR to USD – Sri Lankan rupee to US Dollars; 10,000 LKR is 50.2482 USD

USD to LKR – US Dollars to Sri Lankan rupee; 10,000 USD is 1,990,120.2006 LKR

EUR to LKR – Euro to Sri Lankan rupee; 10,000 EUR is 2,367,243.5518 LKR

LKR to EUR – Sri Lankan rupee to Euro; 10,000 LKR is 42.2432 EUR

NZD to LKR – New Zealand Dollar to Sri Lankan rupee; 10,000 NZD is 1,387,938.1832 LKR

LKR to NZD – Sri Lankan rupee to New Zealand Dollar; 10,000 LKR is 72.0493 NZD

Popular LKR Routes

Popular currency transfer routes for people visiting this page:

  1. Send money to Sri Lanka from UK (GBP to LKR)
  2. Send money to Sri Lanka from USA (USD to LKR)
  3. Transfer from Sri Lanka to EU (LKR to EUR)
  4. Transfer from Canada to Sri Lanka (CAD to LKR)
  5. Transfer money from Sri Lanka to Australia (LKR to AUD)

Transfer Money To A Sri Lankan Bank Account

The current Sri Lankan rupee is been in use only from 1872. In the past, Sri Lanka had used the British pound (1825 – 1869) and the Indian rupee (1836 – 1872). So it is no surprise that the most popular exchange rates are against the GBP and INR.

Remittances: Sri Lanka has received over $7 billion in 2014 which represents almost 10% of the country’s GDP. Because English is the main recognized foreign language, over 500,000 of the 3 million overseas Sri Lankans are in the UK.

If you need to hire people and feel out of your comfort zone in a foreign country, you should know that the UK is the number one partner with Sri Lanka for higher education opportunities and for training locals.

Tourism: Sri Lanka was named the best-valued destination for holidays (in 2012) and had over 1.5 million tourists in 2014. With so many national parks, major sports tourism and 8 world heritage sites, Sri Lanka is on her way to achieving the target of 2.5 million tourist arrivals by 2016.

Thinking Of Relocating To Sri Lanka?

If you consider moving to Sri Lanka and live there as an expat, you may want to know about these facts:

Advantages Of Moving To Sri Lanka:

  • Major Economic Growth: Sri Lankan government has targeted economic growth of 1 Billion USD in export revenue.
  • Job Opportunities: The government plans on creating over 100,000 new jobs by 2018.
  • Good Salaries: Sri Lanka boasts the highest per capita salary in Southeast Asia.

Disadvantages Of Moving To Sri Lanka:

  • Education System: Poor public education system leaves international schools as the only viable option. These schools can average 5,000 – 10,000 GBP per year.
  • Medical Insurance is Difficult to Obtain: It is a lengthy process to get coverage as an expat, thus, do your homework and start early.
  • Heavy Tax on Foreigners Owning Property: Residents have fewer issues but foreigners are advised to consider taxation carefully.

Popular Destinations in Sri Lanka

Popular cities for business and real estate transactions in Sri Lanka are: Colombo, Dehiwala-Mount Lavinia, Mount Lavinia, Galkissa, Moratuwa, Jaffna, Negombo, Pita Kotte, Sri Jayewardenepura Kotte and Kandy.

How To Send Money to Sri Lanka For Cheap

As we stated at the beginning of this article, the bank-to-bank transfer is the worst possible option. Instead, give the FX companies a chance to show you how cheap and convenient a money transfer can be.

But how can they compete with banks? The answer is pretty simple – These companies focus solely on money transfers!

And the business model can offer the customer many benefits when compared with banks or remittance companies (such as Western Union). Because they acquire huge amounts of currencies, FX companies receive a wholesale price which empowers them to be very competitive in the currency exchange rates.

When a customer decides to make an international money transfer, the FX company is able to move the money and make the profit from the currency exchange. And when the amounts to be transferred are large enough, they will waive the fee altogether. It’s clearly a win-win situation.

What you need to send money to Sri Lanka

  • Bank Name and Address
  • IBAN
  • Swift Code
  • Account Number
  • Receiver’s Complete Name

After you provide all the details listed above, the process is simple:

  • You create a free account with the company.
  • Receive a quote from one of the dealers – be it online or by the phone.
  • Send the money to your account so you can fund the transfer.
  • Get confirmation from the company (usually the same dealer that gave you the quote) that the transaction is completed

Our Company Recommendation:

Regulations and taxes when transferring money to and from Sri Lanka

Sri Lanka’s currency is the Sri Lankan Rupee. The rupee is fully convertible, making transfers in and out of Sri Lanka relatively simple.

The Central Bank of Sri Lanka

The Central Bank of Sri Lanka overseas payment systems, monitors the proper function of financial systems, and works to preserve price stability.

Transfer regulations

There are no transfer restrictions on money going in and out of Sri Lanka.

Hard cash equating to over US$10,000 must be declared to customs when departing from Sri Lanka. Sums exceeding US$15,000 must be declared when entering the country.

Taxation on foreign income

Sri Lankan residents are taxed on any foreign income. Non-residents are taxed only on income originating in Sri Lanka.

Biggest banks in Sri Lanka

  • Commercial Bank of Ceylon
  • HSBC Sri Lanka
  • ICICI Bank
  • Hatton National Bank
  • Sampath Bank

Sri Lanks is a country that relies heavily on remittances and the tourism sector, meaning that it relies a lot on foreign income. That’s why we decided the tackle so in-depth the way people transfer money to Sri Lanka. Because the banks have been taking huge fees for this money corridor for too much time and are not feasible for many people to see how a big percentage of their money just disappear in thin air every time they send money to or from Sri Lanka.

So stop overpaying and start using one of the FX companies we have reviewed in this guide.