Organisation : India Post
Facility : International Money Transfer
Home Page : https://www.indiapost.gov.in/VAS/Pages/IndiaPosthome.aspx
Get More details here : https://www.indiapost.gov.in/Financial/Pages/Content/IMT.aspx
International Money Transfer :
Salient features of the International Money Transfer Service :
** Money Transfer Service Scheme is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India.
Related : India Post Send Money through IMO : www.statusin.in/1989.html
Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible. No outward remittance from India is permissible under MTSS.
** As a result of the collaboration of the Department of Posts, Government of India with the Western Union Financial Services and MoneyGram International, a state of the art International Money transfer Service is now available through the Post Offices in India, which enables instantaneous remittance of money from around 195 countries and territories to India. The recipients can in fact collect the money in minutes after the sender has made the remittance.
** The service is targeted to particularly fulfill the needs of NRI dependent families in India, visiting International tourists and foreign students studying in India.
The International Money Transfer process is as follows :
** To avail of this Service, a remitter goes to any one of the Western Union / MoneyGram Locations in the countries in which the Service operates , fills up a form to send the amount and pays principal amount and charges. The sender gets a unique Money Transfer Control Number / Reference Number on a receipt after the transaction is sent through the system. Thereafter, the sender calls up his/her payee and gives information on the money sent. The Payee / Receiver goes to the Post Office , fills up a form to receive money, shows valid identification and receives money along with the receipt, once the transaction is verified. This entire process is completed within ten minutes.
** The Payee receives the full amount in Indian Rupees. There is a maximum limit of 2500 USD that can be sent at a time as per applicable RBI regulations which must however be only for personal use.
** Amounts upto INR. 50,000/- may be paid to the beneficiary in cash. Any amount exceeding this limit shall be paid by means of account payee cheque or credited directly to the Savings Account standing in the Post Office in the name of the beneficiary. However, in case of foreign tourists, higher amounts can be payable in cash.
** Only 30 transactions can be received by a single beneficiary in a calendar year.
** The Post Offices have been directed to treat the payee as “Most Favoured Customers”, which ensures courteous and efficient service to them.
identity and proof of residence through reliable Govt issued documents like :
** Election Card,
** Driving License,
** PAN Card,
** Ration Card,
**Aadhar Card etc,
**a copy of which also has to be provided to the Post Office for receiving a transfer.