The Correct Way to Transfer Money from Italy to Sri Lanka via Payoneer
Bringing your foreign income to Sri Lanka without tax complications
A major concern for many Sri Lankans living in Italy is how to transfer side income or online earnings to Sri Lanka without them being flagged by the Italian tax system (Agenzia delle Entrate). The safest and most efficient solution for this is Payoneer.
1What is Payoneer?
Payoneer is a globally recognized digital banking service. It provides you with free Virtual Bank Accounts in countries like the USA, Europe, and the UK. You can receive AdSense payments or any other international income directly into these accounts.
Advantages of Using Payoneer:
| ✓ | No direct connection to the local Italian banking system. |
| ✓ | Ability to withdraw funds directly to any bank in Sri Lanka (Commercial, HNB, Sampath, etc.). |
| ✓ | Lower service fees and competitive exchange rates. |
| ✓ | Availability of a physical Mastercard that can be used anywhere in the world. |
2How to Receive and Withdraw Funds
Simply provide the IBAN or account details provided by Payoneer to your AdSense account or other income sources. Once the funds reach your Payoneer account, use the "Withdraw to Bank" feature to send the money to your Sri Lankan bank account.
3How to Start an Account
Visit the Payoneer website and sign up by providing your name, address, and identification documents (Passport or ID). During registration, remember to provide your Sri Lankan bank account details for future withdrawals.
