How to send money from Australia to Sri Lanka

Migratio Editorial · Last updated 23 July 2026

TL;DR: Australia has no outbound cap. Sri Lanka's CBSL encourages inward remittances and permits receipt through authorised banks and licensed money transfer operators. Recipients can receive funds in LKR or hold foreign currency in NRFC accounts. The corridor is served by specialist services, banks, and traditional remittance operators.

Australia has no outbound cap. Sri Lanka's CBSL encourages inward remittances and permits receipt through authorised banks and licensed money transfer operators. Recipients can receive funds in LKR or hold foreign currency in NRFC accounts. The corridor is served by specialist services, banks, and traditional remittance operators.

Overview

Sri Lanka depends significantly on remittances from its overseas diaspora. CBSL encourages inward flows through formal banking channels and licensed operators. Australian-Sri Lankans sending money home benefit from a corridor with multiple provider options and delivery methods.

Outbound rules (Australia)

No cap. AUSTRAC reporting applies automatically (AUSTRAC).

Inbound rules (Sri Lanka)

CBSL permits and encourages personal inward remittances with no cap. Funds can be received through authorised commercial banks, and recipients can hold foreign currency in NRFC (Non-Resident Foreign Currency) accounts if they are Sri Lankan nationals living abroad (CBSL). LKR conversion is done at the bank's or agent's rate.

Fee comparison

Specialist services (Wise, WorldRemit, Remitly): AUD-to-LKR margins of 0.5–2%, fees of AUD 2–15.

Remittance providers (Western Union, MoneyGram): Cash pickup available in Sri Lanka. Fees are higher but delivery is near-instant.

Australian banks: AUD 20–35 plus 2–5% margin.

Delivery options

Bank deposit: To major Sri Lankan banks (Bank of Ceylon, People's Bank, Commercial Bank, HNB, Sampath Bank). 1–3 business days.

Cash pickup: Through Western Union and MoneyGram agent networks. Minutes.

Speed

Cash pickup: minutes. Specialist services: 1–2 business days. Bank SWIFT: 2–4 business days.

Tax implications

Australia: No tax on outbound transfers.

Sri Lanka: Personal inward remittances are not taxed. The Inland Revenue Department of Sri Lanka does not impose income tax on personal remittances from overseas.

Common mistakes

Using bank SWIFT for small regular transfers. Specialist services and remittance operators are significantly cheaper for regular family support payments.

Not considering NRFC accounts. If the recipient qualifies for an NRFC account, holding funds in foreign currency can be advantageous during periods of LKR volatility.

Frequently asked questions

How much can I send from Australia to Sri Lanka?

No Australian cap. Sri Lanka has no cap on personal inward remittances.

How long does a transfer take?

Cash pickup: minutes. Specialist services: 1–2 business days. Bank SWIFT: 2–4 business days.

Is the money taxed in Sri Lanka?

No. Personal remittances from overseas are not taxed.

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