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ComBank Remittance customers win Rs 5 million in four months

Wednesday, 22 June 2022 10:17

ComBank Remittance customers win Rs 5 million in four months

Businesscafe - The Commercial Bank of Ceylon recently presented Rs 5 million in cash prizes to the lucky winners of the Bank’s ‘Win a Million’ remittance promotion launched in January this year.

This included cheques to the value of Rs 1 million each to four first prize winners and consolation prizes of Rs 25,000 each to another 40 remittance customers who won in the four months ending April 2022.


The Bank said it plans to continue this promotion to produce more millionaires while encouraging customers to use its remittance channels.

The four grand prize winners of Rs 1 million are Mr Y. C. S. Peiris of Moratuwa, Mrs A. D. Malani Somalatha Fernando of Kiribathgoda, Mr W. Sakun Madhuranga Thamel of Wennappuwa and Ms Sivakumar Dilani of Horana, all of who received remittances from the Middle East region.

The ‘Win a Million’ promotion enabled recipients of money via ComBank RemitPlus – the remittance service of the Bank – to automatically enter into a prize draw that took place once a month.


Every customer who received remittances directly to a Commercial Bank Account between January and April and those who collected the remitted cash from a Commercial Bank branch close to them were eligible to enter these draws.


After the conclusion of each monthly draw, the Bank published details of the winners on its social media platforms as well as the Bank’s ‘RemitPlus’ App.

The Bank said the ‘Win a Million’ campaign was launched to encourage recipients of remittances to directly approach the Bank and remittance partners, to promote direct remittances, help reach untapped markets, boost customer loyalty and retention, attract customers of global partners, and popularise its Remittance Card, RemitPlus app, and related value-added services.

The promotion was also designed to provide customers with a substantial incentive to move away from informal remittance channels such as Hawala and Undiyal, the Bank added.


‘Win a Million’ rewards migrant workers by giving them the chance to enhance their living standards by building a house, purchasing land, buying household essentials, or starting a business that will sustain them when they return home and therefore was widely popular among the Bank’s remittance customers.

Remit Plus is the instant money transfer service of Commercial Bank which enables Sri Lankan expatriates to make instant money transfers from many countries around the world.


A sophisticated, low cost, real time, online money transfer facility, Remit Plus can be accessed by remitters through a network of agents.


The Bank’s business partners for remittances in more than 130 countries provide remittance services through which the amount is credited to relevant Commercial Bank accounts instantly at any time of the day, any day of the year.

‘ComBank RemitPlus’ is a remittance app that enables those who use the Bank’s remittance services to conveniently access remittance-related information and services.


The mobile app which could be downloaded for both iOS and Android operating systems serves as an information app and connects both the remitter and sender for interactions about the tracking of the remittance.


No joining fee or annual fee is levied on the usage of this app.


Regular remittance receivers are eligible to open a Remittance Account at any one of the Bank’s branches and are eligible to obtain a Remittance Card, free of charge.

Commercial Bank is one of the most active players in Sri Lanka in the field of remittances.


One of the Bank’s key strengths is its island-wide network of 268 branches, many of which remain open on public, bank and mercantile holidays, and its network of 940 machines, which is the largest automated cash dispensing system owned by a single private bank in Sri Lanka.


Recipients of remittances sent to the Bank enjoy many benefits such Holiday Banking Centres and supermarket counters, a dedicated customer support call centre for remittances and SMS alerts facilities once the remittance is received and is ready to be paid out.

Commercial Bank is Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively.


It is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector.


The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.
 

Pictured here are the prize winners with Commercial Bank Managing Director and CEO - Mr Sanath Manatunge (sixth from left) and Chief Operating Officer - Mr. S Prabagar (eighth from left), and representatives of the Bank’s corporate and senior management. 

Last modified on Wednesday, 22 June 2022 10:42