Frequently asked questions
Everything you might want to know before you place your first order. Still unsure? We answer on chat during opening hours — you can start a thread without an order.
Popular questions
Do I need an account to see the rates?
No. The board, the market pages, the 30-day history and the Central Bank reference table are all public. You only sign in when you want to place an order — because an order needs somewhere to send your funds.
How is the rate decided?
We quote a buying and a selling rate per market and republish them through the day as the market moves. The rate written on your order is the one showing when we confirm it — after that it doesn't change, whichever way the market goes.
What is the transfer window?
Once your order reaches 'transfer your funds', a countdown starts — 30 to 120 minutes depending on the market. It exists because we're holding a rate for you. If it lapses the order expires and nothing is debited; you simply re-order.
How do I prove I paid?
Upload the bank slip or the transaction screenshot on the order page. We match it against the account, mark the payment verified, and you can see exactly when that happened and who did it.
What are points worth?
Points accrue on completed orders at a per-market rate and can be redeemed against a future trade on markets where redemption is switched on. Verification tiers, referrals, promotions and challenges all pay points too.
What are the limits?
Limits are per verification tier: a single-order ceiling and a rolling 30-day cumulative ceiling. Registered starts at Rs 25,000 per order; fully verified customers trade up to Rs 15,000,000 with no cumulative cap.
Getting started
Who am I trading with?
With us directly. We are a dealer, not a marketplace — you trade against our published rate, not against a stranger in a chat window. There is no escrow standoff and no counterparty to verify yourself.
Is it legal to trade here?
Rates.lk operates as an independent, licensed Sri Lankan currency platform and follows Central Bank of Sri Lanka guidance and KYC/AML rules. Note that digital assets are not legal tender in Sri Lanka — the rates we quote are indicative and move with the market.
Do you have a counter for cash USD?
Yes. Cash USD is over the counter only, booked in advance through the agent market so the notes are on hand when you arrive. Come to Level 12, Access Towers, Union Place, Colombo 02.
Orders and payments
Can I cancel an order?
An order that hasn't been confirmed can simply be left to expire — nothing is debited. Once you've transferred funds, use the order page to flag any problem (funds not received, wrong method, receiving account disabled) and it pauses in front of our team.
What happens if something goes wrong?
Flag the order from its own page. It stops progressing and lands in front of a person with your full audit trail — both proofs and the chat thread attached. Either the order completes, or the funds we received go back to the account they came from in full. A rejected order is never a partial one.
Which banks and methods can I use?
Payout is only ever made to a bank account or wallet that belongs to the verified account holder. Third-party payouts are declined — that is exactly what protects you. The methods available depend on the market you're trading.
Points, limits and verification
How does verification work?
You can trade the day you register. Verification raises your limits and pays points — it is never a wall you have to climb before you're allowed to do anything. Each tier lifts your single-order and rolling 30-day ceilings.
How do referrals and promotions work?
Referrals, promotions and challenges all pay points on top of what your completed orders earn. Points can be redeemed against a future trade on markets where redemption is switched on.