How To Open A Bank Account in Sri Lanka

How to Open a Bank Account in Sri Lanka. As one of the interesting countries, some foreigners and expatriates decide to stay for a long term in Sri Lanka. Moving out to the country means there are many things to prepare including managing to open a bank account in the country. Therefore, it will always be interesting to know how to open a bank account in Sri Lanka. Precisely, which bank to select, what documents are needed, and how to perform the steps.

The following paragraphs can be a good start to get an overview related with open a bank account in the country. It can help to explain all necessary things related to this activity. For those foreigners and expatriates who plan to live in the country soon, the following is some important information to attend.

Selecting Suitable Bank in Sri Lanka

How To Open A Bank Account in Sri Lanka

Before deciding to open a bank account in the country, most foreigners deal with difficulties in searching for the best bank institution to help them with an account. Of course, Sri Lanka might have many options for local banks. But, not every bank will be worth enough and able to give all the important services as you wish. Therefore, the best is to get preliminary information about the major banks in Sri Lanka, and what kind of services are provided in each of these banks.

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In general, there are four major banks in the country that can be trusted and reliable. They are HSBC Sri Lanka, National Development Bank, Bank of Ceylon, and People’s Bank. Each bank offers several services for their consumer consisting of providing a saving account with good rates of interest, numerous ATMs all over the country, online banking services, mobile banking services, and various business loans or personal loans.

Important Documents to Provide to Open a Bank Account in Sri Lanka

Once you have decided on the preferred bank in the country, the next important thing to perform is to prepare all necessary documents. Every foreigner or expatriate will need to provide several documents whenever they want to open a bank account in Sri Lanka banks. It will be different with Sri Lanka resident that requires fewer documents to open a bank account.

Usually, the foreigner will need typical documents such as a passport, visa, and proof of income. Therefore, make sure to prepare all of this documentation before applying for a new bank account.

Some banks also ask to provide a local address and phone number. If you stay for a job assignment, you can get a letter from your company to declare your Sri Lanka address and phone number. It will also be good support for the bank so that it can be trusted and your new bank account can be given.

Steps to Open a Bank Account in Sri Lanka

After compiling all necessary documents, the next thing to perform is to present to your preferred bank and start applying. First, you need to see the bank officer and ask him to explain any requirement for an expatriate to open a new bank account.

Usually, the officer will help to give you a mandatory form that needs to fill in. Make sure you complete the form accordingly and put valid data in the form according to your supporting documents.

If you finish filling the form, you can pass it to the bank officer. He will check your input and ask you to provide supporting documents for verification. The original documents will be used for verification only. While the copy of your supporting documents shall be passed to the bank officer for the administration process.

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Once the form and supporting documents have been received by the bank, then your new bank account will be proceeding further. You might need to put some deposit with amount according to the bank requirements. After you put in the deposit, then the bank officer will provide a bank book and debit card or ATM card. Usually, the cards will be activated and can be used a day after you receive them.

In case you need further assistance for making a credit card or having a personal loan, then you need to pass another documentation as required. It might be more complete compare to the previous documents. Such as giving your work permit, your daily bill, and many more. To get the best information, it is better to ask the bank officer and ask him to provide you with the complete form and list of required documents. So that you can proceed further and enjoy the services as soon as possible.

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Through all information about how to open a bank account in Sri Lanka above, it will help you to understand what to prepare and what to perform. You can get an overview of any documents needed during the process of opening a bank account in the country.

Furthermore, you can also understand how to create an account within one day. So that the next day you will be able to use your ATM and debit card. You can manage any transaction, including making a payment or receiving payment without the worry of anything anymore. Good luck with it!