When it comes to spending, most of us look for bargains to save as much as possible. After all, it’s only natural we don’t want to see our hard-earned cash go to waste. Transferring money abroad is no exception, especially when it comes to exotic destinations like Sri Lanka.
Sending money to Sri Lanka usually costs so much it turns many off about the whole idea. The cheapest option is always to go for a money transfer service, but finding the best one is rather complicated. That’s why in this article, we’ll give you the top three choices for easy and affordable money transfer to Sri Lanka.
Skrill
Skrill is a trusted player in the remittance market, offering a secure and convenient experience. It scores highly on Trustpilot and supports a wide range of countries and currencies. With Skrill, you can transfer money abroad via several routes, such as credit/debit cards. However, You can only transfer money to a mobile wallet like Skrill or a bank account.
In terms of transparency, Skrill (like many other companies) is not the top choice because all of its transfer fees are hidden in the exchange rate margins, adding considerably to the transfer cost. The exchange rate markup makes up for the “low” transfer fees. Also, there’s a 5% fee for every credit card transaction.
MoneyGram
MoneyGram is a well-established remittance company that consistently appears in the top ten list for international transfers. It supports a wide range of countries, currencies, and transfer methods (such as bank transfer, cash, credit card, etc.).
A disappointing fact about MoneyGram is its lack of transparency about fees and exchange rate margins. MoneyGram offers a reasonable fee and Pound to Sri Lankan Rupee rate on the surface but leaves customers in the dark since reviews suggest that about 89% of its fees are hidden in the obscure margins. Besides, you have to go through a lengthy process before making the first transfer, testing people’s patience with busy lives.
Lycaremit
Lycaremit is one of the few services on the market that chooses transparency over superficial advertisements. While it doesn’t claim to charge zero fees, it offers minimum transfer fees and mid-market Pound to Sri Lankan Rupee rates. Furthermore, for every transaction beyond £300, you’ll get a £5 credit bonus.
With Lycaremit, your money will arrive at any destination in less than two days. Lycaremit covers a significant number of countries and currency pairs in the world, especially exotic destinations like Sri Lanka, India, and Pakistan. In addition, you’ll have a much easier signup process and 24/7 access to their customer support team, unusual in the remittance market.
Bottom Line
It’s a bit complicated to find a transfer service company with benefits that outweigh its downsides. Some firms support a wide range of countries and deliver the funds reasonably, but their lack of honesty over transfer fees is a dealbreaker. And, then, there are those who don’t provide customer support during weekends or after business hours.
Lycaremit is a rising name in the world of business and personal money transfers. There aren’t many like it. They offer transparent, minimum fees and 24/7 customer support to help you send money to Sri Lanka
