Emirates Post, India Post launch e-money order service to Kerala
Emirates Post and India Post yesterday launched an electronic international money order facility between the United Arab Emirates and Kerala, fulfilling a long-standing demand of expatriates for an affordable electronic money transfer service.
A bulk of the estimated Rs250 billion which Non-resident Keralites (NRKs) send home annually comes through banks and money transfer operators at present. A sizeable chunk of the remittances also come through illegal channels.
The facility launched by Kerala Circle Post-Master General Uday Balakrishnan is expected to benefit the low-income group, who constitute about 90 per cent of more than half a million Malayalees working in the UAE.
The e-money order launched in alliance with Emirates Post envisages delivering money at the customer’s doorstep.
It uses the Universal Postal Union’s secure International Financial System for the purpose.
The maximum remittance allowed per person is 12 in a calendar year, while the maximum amount that can be sent is USD 5000 or its equivalent. MOs up to Rs20, 000 will be delivered to the customer in cash within two days.
Amounts between Rs20, 001 and Rs50, 000 will be paid from the post office counter and those exceeding Rs50,000 by cheque, the official said. Emirates Post will charge 11 dirhams for ‘window’ delivery per transaction and 14 dirhams for door delivery in India.
The e-money order facility has also been launched at 46 head post offices in the four metros of New Delhi, Mumbai, Kolkata and Chennai. 1 INR = 0.0249476 USD
Emirates Post and India Post yesterday launched an electronic international money order facility between the United Arab Emirates and Kerala, fulfilling a long-standing demand of expatriates for an affordable electronic money transfer service.
A bulk of the estimated Rs250 billion which Non-resident Keralites (NRKs) send home annually comes through banks and money transfer operators at present. A sizeable chunk of the remittances also come through illegal channels.
The facility launched by Kerala Circle Post-Master General Uday Balakrishnan is expected to benefit the low-income group, who constitute about 90 per cent of more than half a million Malayalees working in the UAE.
The e-money order launched in alliance with Emirates Post envisages delivering money at the customer’s doorstep.
It uses the Universal Postal Union’s secure International Financial System for the purpose.
Balakrishnan said all the 51 head post offices in the state and Mahe will provide the facility, under which a single money order issued by Emirates Post for payment in India should not exceed USD 2,500 or its equivalent.
The maximum remittance allowed per person is 12 in a calendar year, while the maximum amount that can be sent is USD 5000 or its equivalent. MOs up to Rs20, 000 will be delivered to the customer in cash within two days.
Amounts between Rs20, 001 and Rs50, 000 will be paid from the post office counter and those exceeding Rs50,000 by cheque, the official said. Emirates Post will charge 11 dirhams for ‘window’ delivery per transaction and 14 dirhams for door delivery in India.
The e-money order facility has also been launched at 46 head post offices in the four metros of New Delhi, Mumbai, Kolkata and Chennai.
1 INR = 0.0249476 USD
