Donations from foreign currency accounts to the Covid-19 relief fund Banks to waive transfer fees |10 March 2021

The banking community has agreed to waive transfer fees for donations by individuals and businesses from foreign currency accounts held with local banks to the Covid-19 relief fund.

This follows a request by the Central Bank of Seychelles (CBS) to the Seychelles Bankers Association (SBA).

The gesture showcases the banking community’s solidarity towards national efforts to fight the Covid-19 pandemic and lessen the impact on the economy.

It is to be noted that there is also no charge applicable to local currency transfers effected through the Seychelles Electronic Funds Transfer (SEFT) customer platform, as well as SEFT transfers made through the banks’ mobile banking applications, internet banking, and interbank platforms, following a waiver in effect since March 2020 to encourage the use of digital services and limit physical contact in light of the current pandemic.

Individuals and businesses are therefore being encouraged to make use of these platforms to effect local currency transfers.

Press release from the CBS