More Cash

July 23, 2007 (LBO) – Commercial Bank of Sri Lanka has more than doubled the limits on cash withdrawals from automated teller machines (ATMs) and increased limits on debit card purchases.

“The increase in the point-of-sale limit on our debit cards will enable our customers to carry out high value transactions provided the necessary funding has been arranged,” Commercial Bank™s account holders can seek an increase in their ATM withdrawal limits to a maximum of 100,000 rupees, or choose to continue with the current limit of 20,000 rupees a day, the bank said in a statement Monday.

It also increased the debit card purchase (point-of-sale) limit up to 500,000 rupees with accountholders given the facility to select a limit suited to each of their spending and withdrawal habits.

“This upward revision in the limits applicable to Commercial Bank™s ATM/Debit cards will result in a substantial increase in daily transaction volumes¦” Sanath Bandaranayake Bank™s Deputy General Manager (Operations) was quoted in the statement as saying.

In March this year alone, withdrawals from the bank’s network of 274 ATMs in the island exceeded 6.8 billion rupees, amounting at an average