Receive payouts via local wire transfer in LKR (Sri Lanka)
Overview
Local wire transfer in LKR is a transfer of funds between banks in Sri Lanka in the local currency, LKR. This method is valued for its reliability, convenience, and speed, as it provides a direct transfer from one bank account to another within the country.
Supported currencies
Sri Lankan Rupee (LKR)
📌 If the currency of your balance in Smartcat is different from LKR, the funds are converted to LKR using the Smartcat exchange rate.
Commission
2.5 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.
You can view a list of companies that reimburse your commissions in the My Payouts section (click the Learn more button on your payout method).
Minimum and maximum payout amounts
From 3,200 LKR to 1,000,000 LKR
Smartcat allows you to set the minimum amount, starting from which the payment is sent to you. You can learn more in the article Minimum payout amount.
Required details
| Field | Individual | Company | Description |
|---|---|---|---|
| Beneficiary type | ✓ | ✓ | Individual or company beneficiary |
| Beneficiary first name | ✓ | ✕ | Name of the individual beneficiary |
| Beneficiary last name | ✓ | ✕ | Last name of the individual beneficiary |
| Birth date | ✓ | ✕ | Beneficiary's birth date |
| Beneficiary company name | ✕ | ✓ | Beneficiary's company legal name |
| Recipient's country | ✓ | ✓ | Beneficiary's country |
| Recipient's state (province, prefecture) | ✓ | ✓ | Enter a state, province, or prefecture if the beneficiary's country is the United States, Mexico, Canada, or Japan |
| Recipient's city of residence | ✓ | ✓ | City or town from the beneficiary's address |
| Recipient's address | ✓ | ✓ | Beneficiary's address, including building number or name |
| Recipient's postal code | ✓ | ✓ | Beneficiary's postal code |
| Account number | ✓ | ✓ | Beneficiary's bank account number |
| Recipient's account type | ✓ | ✓ | Savings/Check |
| Bank name | ✓ | ✓ | Name of the bank receiving the funds |
| Bank code | ✓ | ✓ | 3-digit bank ID code used for local payments |
| Branch code | ✓ | ✓ | 3-digit branch code of the beneficiary's bank |
| SWIFT | ✓ | ✓ | 8-11-digit code identifying the country, city, bank, and bank branch of the beneficiary |
Advantages
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Cheaper than international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer
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Speed. Payouts are processed within up to 3 business days on the Smartcat side and up to 1-2 business days on the bank side
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Funds are received immediately in the local currency. You do not spend money on additional conversions and can use the money in your country right away
FAQs
I chose this method, but the payment was rejected. Why?
Do the following:
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Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer)
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Make sure the postal code, city, street, and house number are specified in the corresponding fields of the details. Make sure you do not enter a PO box or email address instead of your residential address
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Check that the account number, bank name, branch code, bank code, account type, and SWIFT are correct
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Make sure the name of the account holder is entered in the details exactly as it appears in the bank details, including all spaces and symbols
If the details you provided are correct, contact your bank branch to find out the reason for the rejection of the payment on the bank's side.
I cannot find the payment. What does the payment look like on the bank statement?
If you cannot find the payment, check your account statement for the following transactions:
As a reference, the payment ID can be specified in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.
SMARTCAT EUROPE BV, AIRWALLEX, or Banking Circle SA is displayed as the sender, depending on the receiving bank.
For which countries is this method available?
The method is only available for receiving funds to a bank account in Sri Lanka.
I received a payment. What details should be used for billing?
When receiving funds by local bank transfer in LKR, enter the following Smartcat details in your account:
Full name: Smartcat Europe BV
Legal address: Strawinskylaan 903, 1077 XX Amsterdam, the Netherlands
VAT no.: NL859832880B01
Still need help?
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