STRATEGIC PARTNERS
March 7, 2002
SRI LANKA -- Commercial Bank has become the first Sri Lankan financial institution to offer ATM cards with international access to its foreign currency account holders via the Cirrus network, according to the Sri Lanka Daily News.
Holders of non-resident foreign currency (NRFC), resident foreign currency (RFC), resident non-national foreign currency (RNNFC) and non-national foreign currency (NNFC) accounts can withdraw cash or verify account balances through over 500,000 ATMs displaying the Cirrus logo. The bank added a multi-currency software system to its computer network to add the service.
"This will be particularly attractive because account holders can withdraw funds in a currency of their choice from wherever they are stationed," said Commercial Bank Managing Director Amitha Gooneratne.
Previously, when remittances were made to NRFC accounts from overseas, the account holder had to wait up to three months to receive statements that indicated the money was credited. Because of this, balance verification through Cirrus ATMs is an especially attractive feature, according to Commercial Bank.
