Central Bank of Sri Lanka sets CEFTS transaction value limits including LKR 20 billion Customs payments via LPOPP and caps fees

The Central Bank of Sri Lanka issued Payment and Settlement Systems Circular No. 02 of 2025 requiring all members of the Common Electronic Fund Transfer Switch (CEFTS) to apply new maximum per-transaction value limits and fee caps for CEFTS payments, including higher value ceilings for specified transactions processed through the LankaPay Online Payment Platform (LPOPP). Standard CEFTS fund transfers are capped at LKR 5 million per transaction, with LPOPP exceptions of up to LKR 20 billion for payments to Sri Lanka Customs (transaction code 58), up to LKR 10 billion for payments to the Inland Revenue Department (transaction code 62), and up to LKR 250 million for other institutions integrating with LPOPP. LankaPay (Pvt) Ltd must notify assigned transaction codes and may set institution-specific limits in CEFTS, subject to the LKR 250 million ceiling and Central Bank approval. Fee caps are set at LKR 25 for internet banking, mobile banking and on-us ATM transfers, and LKR 100 for over-the-counter and off-us ATM transfers, while LPOPP transactions are capped at LKR 25; IRD tax payments via merchant type 4106 are capped at LKR 25 and no fee may be charged for merchant types 4107 (penalty) and 4108 (interest), with GovPay fees remaining capped at LKR 15 per transaction. The circular replaces Payment and Settlement Systems Circular No. 20 of 2020 and takes effect from 15 February 2025.