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Discussion Starter · #1 ·
Hi All,

I plan to travel at end of December. Would like to know the best method of transferring funds from Sri Lanka.


I was thinking of opening a RFC account in SL and transfer money to Aussie bank. However there are restriction on depositing foreign currency in SL accounts as only accept inward foreign remittances only.

Any expert knowledge on this is highly appreciated.
 
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Hi All,

I plan to travel at end of December. Would like to know the best method of transferring funds from Sri Lanka.

I was thinking of opening a RFC account in SL and transfer money to Aussie bank. However there are restriction on depositing foreign currency in SL accounts as only accept inward foreign remittances only.

Any expert knowledge on this is highly appreciated.
Better check with a central bank contact. If you plan to do something like that I think if it's more than 20000aud you must say ur migrating and get approvals etc.
 

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Better check with a central bank contact. If you plan to do something like that I think if it's more than 20000aud you must say ur migrating and get approvals etc.
Good advice. When I was moving to Australia, almost four years ago for my studies, I tried to take 2000AUD with me. However, people's bank asked me questions regarding that amount also. Apparently, government does not like you taking money overseas.
 

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Good advice. When I was moving to Australia, almost four years ago for my studies, I tried to take 2000AUD with me. However, people's bank asked me questions regarding that amount also. Apparently, government does not like you taking money overseas.
I know for a fact that without declaration u can take 10000aud to oz. I saw on a documentary on YouTube.
 

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I know for a fact that without declaration u can take 10000aud to oz. I saw on a documentary on YouTube.
You are right and wrong. It seems you can take up to 10000USD without declaration. Now when I think of it, I think I had a problem with bank not exchanging my SLR to AUD.
 

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I am migrating in January too, please let me know if you find out the process of transferring money. Thanks in advance
 

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Hey all, transferring money from SL is easy. All u need to do is walk into a bank and open a Migrant Blocked Account (MBA). The bank will tell which docs they need. U can trf upto 150,000 USD (first time migrant),and 20,000 each subsequent year. U can also carry cash upto USD5,000!.
 

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Discussion Starter · #8 ·
Hey all, transferring money from SL is easy. All u need to do is walk into a bank and open a Migrant Blocked Account (MBA). The bank will tell which docs they need. U can trf upto 150,000 USD (first time migrant),and 20,000 each subsequent year. U can also carry cash upto USD5,000!.
Hi,do I have to take approvals from central bank for the migration block account.?
 
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