Why Choose Us?SFS11362024-02-12T12:32:01+00:00

About Us

Est. 199526 Years of ExperienceCPA Qualified Compliance OfficerAUSTRAC Registered

Est. 199526 Years of ExperienceCPA Qualified Compliance OfficerAUSTRAC Registered

In 1995 late Mr Hanneef Badrudeen (CPA) founded Serendib Pty Ltd., trading as Serendib Financial Services. In Australia, this was the first remittance company formed with the purpose of sending money back to loved ones in Sri Lanka. The business grew to be one of the leading remittance providers across Australia.

After the passing of late Mr Hanneef Badrudeen (CPA) in 2012, the company was taken over by Dammika Wijesekera (CPA) since 2013, trading as Serendib Financial Services. Dammika is a CPA qualified Accountant, registered Tax Agent and is the compliance officer of Serendib Financial Services.

Serendib has grown to be recognised as one of the largest and oldest clearing houses for Bank of Ceylon, offering fast & reliable money transfer services Australia wide.

Every dollar is sent to Sri Lanka

Serendib guarantees the secure delivery of every dollar to Sri Lanka.

AUSTRAC Registered

Serendib is an AUSTRAC registered Independent Remitter Provider (no. 100370317). All our transaction are reported to AUSTRAC in a timely manner

Official Clearing House for Bank Of Ceylon

Bank Of Ceylon is firmly entrenched as Sri Lanka’s premier financial services organization offering a broad range of services.

Click here to see us listed on the Bank of Ceylon website.

ARCPA Member

The Australian Remittance and Currency Providers Association is the National industry body for remittance and foreign exchange businesses. Serendib adheres to the established benchmark of compliance for registered members.

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Lawfully accredited to provide remittance services

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For transfers above 10,000 AUD, please contact us to find out the charges.

At Serendib we understand how important it is to our clients that our fees are not only reasonable and fair but also transparent.

Free Registration

It is free to register with us

LKR Account Fees

NRFC Account Fees

Bank Fees in Sri lanka (LKR)

Account deposit to any bank: RS 100

Cash pickup (over the counter): RS 150

Dear Valued Customers,

I am writing to inform you that, due to the recent closure of our bank accounts, Serendib will no longer be able to accept any transactions after 23rd August 2024. This decision was communicated to us recently, and we want to provide you with the full context behind it.

Background on De-Banking Issues

Since as early as 2014, remittance businesses like Serendib have faced significant challenges in maintaining banking relationships. This is due to the categorization of remittance businesses as high-risk by financial institutions. The banks, in an effort to comply with Australian law and avoid severe penalties, have increasingly disallowed bank accounts for remittance companies. Past incidents, such as the $700 million fine imposed on Commonwealth Bank in 2018 and the $1.3 billion penalty against Westpac in 2020, have further prompted banks to minimize their risks by withdrawing support from the entire industry.

Serendib’s Commitment and Compliance

For the past 27 years, Serendib has always focused on sending dollars directly to the Bank of Ceylon (BOC) treasury in Sri Lanka. This has been our sole method of supporting Sri Lanka directly. Myself and the late Mr. Haneef Bardurdeen have ensured that Serendib consistently complied with the Anti-Money Laundering and Counter-Terrorism Act in Australia. We have invested tens of thousands of dollars each year in audits, compliance reporting, and IT support to maintain the highest standards of integrity and legality.

Current Situation and Discontinuation of Services

In 2020, we faced a similar situation when we could not find a legitimate bank to support our operations. Unfortunately, we are now experiencing the same issue. Until I can secure another banking partner that is willing to support us, I will no longer be able to accept transactions. I have made this difficult decision to ensure that we continue to uphold our commitment to compliance and legal standards.

Our Continued Services

While our money transfer services will cease, our office in Noble Park will remain open to provide taxation and accounting services. We value our relationship with you and look forward to continuing to serve you in these areas.

We extend our deepest gratitude for your continuous support over the past 27 years. It has been an honor to serve you, and we deeply value the trust you have placed in us. We look forward to continuing our relationship through our taxation and accounting services.

Yours faithfully

Dammika Wijesekera FCPA, CA (SL),Bsc (Acct)

Managing Director, Serendib Financial Services

1138 Heatherton Road, Noble Park, Victoria, Australia 3174

Telephone: (03) 9574 1100 | (03) 9574 0500 | Mobile 0449 137 414

Web: www.serendib.com.au

Registered Tax Agents & Public Accountants