BOC Full Form- Bank of Ceylon

What is BOC? The full form of BOC is Bank of Ceylon. On August 1, 1939, in Fort, Colombo, Sir Andrew Caldecott, the British Governor of Ceylon at the time, announced the opening of the first state-owned commercial bank, Bank of Ceylon. With the goal of becoming the "preferred financial partner" for its clients, Bank of Ceylon has continuously engaged with Sri Lankans from all walks of life in an effort to create value for all stakeholders. Utilizing the most extensive touchpoint network on the island and a foundation of cutting-edge technologies, BOC works to give its clients the most convenient possible access to financial services. By opening foreign branches in strategic areas, BOC expanded its global reach in an effort to create greater value. Specifically, the largest global network of foreign correspondent banks and exchange businesses in Sri Lanka includes London, UK; Male and Hulhumalé in the Maldives; Chennai, India; and the Seychelles.

Bank of Ceylon Operations

Being the leading financial services company in Sri Lanka, BOC has over eight decades of experience leading the country and our stakeholders into a world of potential. BOC is proud to be the top bank in Sri Lanka, promoting prosperity and growth for all of its residents.

In order to provide convenience, increased access to financial services, and value creation for all stakeholders, Bank of Ceylon actively invests in emerging technologies and makes use of the special talents of knowledgeable professionals who are sensitive to the changing needs of our people.

BOC leads the industry in the deployment and uptake of products and services that are prepared for the future by continuously utilizing new and developing global technology.

As part of their duty as the top State bank, Bank of Ceylon promotes infrastructure expansion and growth as well as large-scale national initiatives, making investments for the country's future.

Some of the services of Bank of Ceylon includes: 

Paying Order and Issuing Foreign Draft: Pay orders for local payments in LKR and foreign drafts for overseas payments are available to customers.

Speedy Cheque Realization: Other bank checks will be realized the day after they are deposited in any BOC branch. Cheques made on Bank of Ceylon branches will be realized the same day.

BOC i-net Facility: Through the internet, customers are able to examine the operations of their current accounts.   

Mobile and Internet Banking Facility: For corporate clients, BOC Smart Online Banking (Corporate Version) offers a comprehensive online banking solution. 

The services include:-
1)Funds Transfer to BOC as well as Non-BOC Accounts
2)EPF/ETF payments
3)SLPA and custom payments
4)Utility Bill Payments
5)Credit Card Payments
6)Balance Inquiry & Viewing Facility
7)RDA Top-ups
8)Insurance payments
9)Statement Download Facility

E-Statement Facility: For their audit and reconciliation  needs, customers can receive a free e-statement facility via email.
Collection Accounts: With Bank of Ceylon Collection Accounts, you can process payments quickly, accurately, and efficiently using cutting-edge technologies. You may also collect payments over the counter and through digital channels. BOC is able to receive deposits made by clients of corporate customers and execute payments in real time, allowing for online payment updates.

USD Clearing: To clear the proceeds of their foreign drafts that they have received from their clients, customers can get a USD clearing facility. Foreign drafts are cleared in accordance with a predetermined timeline. 
Fund Management: To enable you to profit from extra funds, the Bank may offer the daily service of transferring excess monies from current accounts to designated call deposit accounts or vice versa.

Standing Order: For fixed costs like rent, insurance premiums, bill payments, subscription fees, etc., standing orders come in handy. There is an option for customers to cancel their standing orders whenever they'd want.