US Dollar Draft Payments
Bringing Sri Lanka’s national payment infrastructure on par with international players.
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Bringing Sri Lanka’s national payment infrastructure on par with international players.
Traditionally, waiting for USD cheque or draft clearance took forever – over three weeks, in fact! But fear not, because LankaPay (Pvt) Ltd came to the rescue in 2002 with the US Dollar Draft Clearing System. This innovative solution slashed processing time from weeks to just four days, saving both time and money for banks and customers alike.
Fast forward to today, and we're still at it! LankaPay is proud to present the US Dollar Draft Online Image Transfer System (UITS), launched in 2019. With UITS, we've gone digital, exchanging images of drafts between banks without the hassle of physical movement. Say goodbye to long waits – now, your USD drafts and cheques clears in just one working day, thanks to UITS. It's simple, efficient, and available to 22 licensed commercial banks already. Join the fast lane of domestic USD Cheque/Draft Clearing with LankaPay!
| Year | Quarter | US Dollar Cheques/Drafts Volume ('000) | US Dollar Cheques/Drafts Value (USD) |
|---|---|---|---|
| 2021 | Q1 | 7.6 | 68 Million |
| Q2 | 6.3 | 51 Million | |
| Q3 | 7.2 | 64 Million | |
| Q4 | 7.3 | 70 Million | |
| 2022 | Q1 | 7.9 | 75 Million |
| Q2 | 10.9 | 101 Million | |
| Q3 | 15.6 | 138 Million | |
| Q4 | 16.1 | 119 Million | |
| 2023 | Q1 | 16.5 | 99 Million |
| Q2 | 15.8 | 94 Million | |
| Q3 | 16.9 | 95 Million | |
| Q4 | 17.6 | 104 Million |
From the time a cheque/draft image reaches LankaPay from banks, it is processed within one business day, so that that cheque shall be realized on the next working day.
No. Image return document not allowed to submit for clearing.
Yes, you can request a stop payment on a USD draft or cheque from the issued bank or exchange house.
Licensed commercial banks in Sri Lanka and exchange houses.
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LankaPay is the national payment network of Sri Lanka which provides the central payment infrastructure to the country’s financial sector. With a mission to drive financial inclusivity and empower businesses and individuals with faster, convenient and secure payment options, making payment convenience an affordable and accessible choice for all.
Location
LankaPay (Pvt) Ltd. Level 18, Bank of Ceylon Head Office,BOC Square, No. 01, Bank of Ceylon Mw, Colombo, 00100, Sri Lanka.
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