Banking in Sri Lanka

Opening an account

Banking in Sri Lanka

Opening a bank account in Sri Lanka is not too hard for expats. However if you want to open an account in a different currency than the rupee you might have to provide a special reason.

The Central Bank of Sri Lanka supervises the banking sector in Sri Lanka. Generally there are three types of financial institutions:

  • Licensed Commercial Banks
  • Registered Finance Companies
  • Licensed Specialised Banks

The Central Bank also provides a list of all registered banks and finance companies .

Many international banks operate in Sri Lanka, for example Citibank, Deutsche Bank or Indian Bank. The opening hours are Monday - Friday from 9am until 3pm. They are closed on weekends and holidays. It might differ for private banks.

You can open a Sri Lankan bank account if you have a work or resident visa. The bank will need the following documents:

  • Copy of a valid passport
  • Copy of your visa
  • A proof from your employer including salary and start date
  • The bank’s own application form

Single banks might require some extra documents. For some accounts it may be necessary to have a minimum initial deposit in order to open the account.

When opening a bank account in Sri Lanka you should check the availability of ATMs compatible with your card and possible fees when withdrawing money from different banks. With this in mind, small local banks might not always be the best solution.

Further reading

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