Sri Lanka’s Sampath Bank commissions forex changing ATM

Jan 24, 2013 (LBO) – Sri Lanka’s Sampath Bank, the first domestic bank to operate automated teller machines in the island commissioned an ATM that can change foreign exchange into rupees Thursday. The machine can detect counterfeit notes and also dispense change in coins, he said.

“Sampath Bank is one of the most innovative banks introducing many innovative features to our banking processes in the past,” Central Bank Governor Nivard Cabraal said after conducting the first transaction at the ATM.

“They are keeping the tradition alive by introducing new concepts and new methodologies to make life easier for its customers and all Sri Lankans.

“As a central bank we encourage those innovations because if Sri Lanka is to move to the post 4,000 dollar per capita income level we will need all these new features in the economy.”

The first money changing ATM changes US dollar notes to rupees.

Sampath Managing director Aravinda Perera said the bank hopes to add other currencies in the future.

The first machine will be fixed at Sampath ‘365-day branch in Colombo’s Dharmapala Mawatha.

Sampath’s deputy general manager marketing Tharaka Ranwala said the money changing ATM network will be expanded to other locations such as Kandy where there is a demand.

Ranwala said the ATM will offer a slightly better rate to customers than at bank counters where officers have to manually transact.