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US Dollar Draft Payments

Traditionally, waiting for USD cheque or draft clearance took forever – over three weeks, in fact! But fear not, because LankaPay (Pvt) Ltd came to the rescue in 2002 with the US Dollar Draft Clearing System. This innovative solution slashed processing time from weeks to just four days, saving both time and money for banks and customers alike.

Fast forward to today, and we're still at it! LankaPay is proud to present the US Dollar Draft Online Image Transfer System (UITS), launched in 2019. With UITS, we've gone digital, exchanging images of drafts between banks without the hassle of physical movement. Say goodbye to long waits – now, your USD drafts and cheques clears in just one working day, thanks to UITS. It's simple, efficient, and available to 22 licensed commercial banks already. Join the fast lane of domestic USD Cheque/Draft Clearing with LankaPay!

Explore the advantages for you

  • Eliminates the need for physical USD drafts or cheques for the clearing process.
  • Faster and secure cheque transactions with improved clearing timelines to Today + One business day (T+1)
  • The fate of the USD draft or cheque will be known on the following working day.
  • Timely availability of funds.
  • It ensures the security and reliability of the clearing operations.

Discover US Dollar Draft Payments from your preferred financial institution

Statistics

Quarterly statistics as of 31st Mrach 2024

Q1

Quarter

17.8

US Dollar Cheques/Drafts Volume ('000)

108 Million

US Dollar Cheques/Drafts Value (USD)

Quarterly Statistics

Year Quarter US Dollar Cheques/Drafts Volume ('000) US Dollar Cheques/Drafts Value (USD)
2021 Q1 7.6 68 Million
Q2 6.3 51 Million
Q3 7.2 64 Million
Q4 7.3 70 Million
2022 Q1 7.9 75 Million
Q2 10.9 101 Million
Q3 15.6 138 Million
Q4 16.1 119 Million
2023 Q1 16.5 99 Million
Q2 15.8 94 Million
Q3 16.9 95 Million
Q4 17.6 104 Million

FAQ

From the time a cheque/draft image reaches LankaPay from banks, it is processed within one business day, so that that cheque shall be realized on the next working day.

  • USD drafts issued by banks in Sri Lanka payable to Sri Lankan individuals and institutions.
  • USD drafts issued by banks or exchange houses abroad drawn on banks in Sri Lanka.

No. Image return document not allowed to submit for clearing.

Yes, you can request a stop payment on a USD draft or cheque from the issued bank or exchange house.

Licensed commercial banks in Sri Lanka and exchange houses.

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