How to send money to Sri Lanka using FPS from Hong Kong

To send money to Sri Lanka using FPS from Hong Kong, utilize a specialized remittance platform like Panda Remit that supports seamless FPS integration. This method allows you to fund transfers directly from your HK bank account, ensuring funds arrive in as little as 2 minutes while avoiding the high fees associated with traditional bank wires.

Comparing Remittance Options: FPS & Cost Efficiency

When transferring HKD to LKR (Sri Lankan Rupee), speed and exchange rates are critical. Below is a comparison of how Panda Remit performs against traditional banks and other market players when funding via FPS.

3 Steps to Send Money to Sri Lanka using FPS

Leveraging the Faster Payment System (FPS) makes cross-border transfers seamless. Follow this guide to complete your transaction:

1. Register and Verify

Download the Panda Remit app and register using your Hong Kong phone number. Complete the e-KYC verification process to ensure compliance with Hong Kong financial regulations.

2. Set Up Your Transfer

Select Hong Kong (HKD) as the sending currency and Sri Lanka (LKR) as the receiving currency. Enter the amount you wish to send. You will immediately see the competitive exchange rate and the exact amount your recipient will receive.

3. Pay via FPS

Choose FPS as your payment method. Panda Remit will generate a unique FPS ID or QR code. Log in to your Hong Kong bank app (such as BOC, Hang Seng, or HSBC), select the FPS transfer option, and send the funds to the provided Panda Remit account. Once received, the transfer is processed 24/7, often arriving in minutes.

Regulatory Compliance & Security

Security is paramount when sending money overseas. Panda Remit operates as a fully licensed Money Service Operator (MSO) in Hong Kong, regulated by the Customs and Excise Department under license number 20-01-02962. We utilize bank-grade encryption to protect your financial data, ensuring that your use of FPS for international transfers is both fast and secure.

Explore More on Hong Kong Remittance

For more insights on optimizing your cross-border finances, check out our resources on best remittance app Hong Kong and track the latest HKD to LKR exchange rate trends.

Frequently Asked Questions

Can I send money directly to a Sri Lankan bank account using FPS?

FPS is a local Hong Kong payment system. However, by using Panda Remit, you can use FPS to fund your transaction locally, and we will instantly payout the equivalent LKR to your recipient's bank account in Sri Lanka.

How long does an FPS transfer to Sri Lanka take?

Because FPS allows for instant local funding, Panda Remit can process your cross-border transfer immediately, with funds often arriving in your recipient's account in as little as 2 minutes.

Is it expensive to use FPS for remittance?

No, using FPS to fund your transfer is typically free for the user. Furthermore, Panda Remit offers exchange rates significantly better than traditional banks and provides zero-fee offers for new users, making it a highly cost-effective solution.

This guide is verified and published by the Panda Remit Global Compliance & Risk Control Team. We are committed to providing transparent, secure, and regulated remittance solutions for global users under our MSO (Money Service Operator) regulatory framework.