LOFCLKLC

Payment Instructions

General instructions for international payments to banks in SRI LANKA:

Overview:
Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, account number, and beneficiary bank address). For additional information, please refer to the Central Bank of Sri Lanka.

Payment Formatting Rules for LKR:
Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials), and address of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLKxx or xxxxLKxxxxx.
Reason for Payment (SWIFT MT103 F70): Must include the following details:

• In-depth, detailed purpose of payment is mandatory.
• Nature of sender’s business
• Sender’s profession/vocation

Additional Information:
Payments for less than LKR 500 cannot be processed. Correspondent banks may deduct LKR 100 from the principal delivered to the beneficiary for any charge code used in the payment message.

IBAN: No

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of LOLC FINANCE PLC for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from LOLC FINANCE PLC, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.