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Pan Asia Bank partners with Small World FS to enable 24/7 instant cross-border Money Transfers

October 3, 2017

Pan Asia Bank has partnered with leading money transfer service provider Small World Financial Services to enable instant cross-border money transfers to bank accounts in Sri Lanka. This enables overseas customers, such as Sri Lankan emigrants, to instantly transfer money into the bank accounts of their family and friends, using Small World FS’ pay-in locations, call centres or website.  For other bank accounts, Pan Asia Bank will disburse funds using the real-time fund transfer service, popularly known as CEFTS. The service is available 24/7 every day of the year.

The agreement represents another milestone for Small World FS, which takes pride in offering a wider choice to its customers on how they send and receive their money than any other money transfer business. Small World’s global reputation has also earned the trust of hundreds of the world’s largest financial institutions who have partnered with the company to facilitate its global pay-out network.

Mr Naleen Edirisinghe, DGM Branch Credit of Pan Asia Bank, said: “joining hands with one of Europe’s leading and most trusted payment service providers is yet another monumental milestone in our bank’s growth story. Without a doubt, this will further strengthen Pan Asia Bank’s ability to provide a broader range of banking services to our existing and potential customers. The inflows of remittances from the Sri Lankan diaspora community have contributed immensely to the macro and micro economic development of the country. Our partnership with Small World FS will help us do our bit for the migrants by providing a real-time, 24/7, seamless money transfer service.”

Nick Day, Founder and CEO of Small World FS commented:

“The partnership with Pan Asia Bank will have an immediate impact on the user experience of our customers. Instant bank transfers are the future of the money transfer market as the number of people and businesses with access to a bank account is growing worldwide.”

Products offered under this arrangement are;

  • Credits to Bank accounts in Sri Lanka
  • Credits to selected Credit cards

Pan Asia Bank, the fastest growing commercial bank in Sri Lanka, has been in operation for over two decades and possesses a network of 83 branches and offers a full range of Retail, SME and Corporate Banking products and services.

About Small World Financial Services Group Ltd.

Unlike most money transfer operators who only have a single route for transferring money, Small World FS gives its customers more choice of how they send and receive their money than any other money transfer business; via mobile, telephone, online, app, direct to bank, and in retail locations.

Its unrivalled network of Financial Institution partners, paired with Small World’s ability to deliver funds directly into bank accounts in local currency in almost 100 countries around the world – significantly more than its competitors – means that it is a business continuing to win market share by providing customers with a better service.

For more information, visit http://www.smallworldfs.com/