Post office is another name for Indian trust. For the past 150 years, India Post has served every part of the country. Apart from sending letters, post office also provides good amount of returns to customers besides keeping people’s money safe. It also includes small savings schemes like KVS and NPS. Apart from this, post office also provides money transfer facility.

Post Office provides money transfer facility to customers through Money Transfer Service Scheme (MTCC). But through this facility only money can be sent from abroad to India. For example – a person living abroad can send money to his family or relatives. Apart from this, foreign tourists can also bring money from their own country through this facility. Through this scheme of the post office, the money will reach the customers from abroad very easily. But this scheme cannot be used to send money abroad from India.

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Tie-up with Western Union:

The Post Office has started offering this facility in association with Western Union Financial Services. This facility can be availed from any post office branch. Customers can instantly remit money to India from a total of 195 countries through MTCC. According to the information given on the post office website, once the money is sent, the customer can collect the money within 5 minutes. This service has been launched especially for those who are financially dependent on foreign currency. Apart from this, tourists or foreign students can also avail this facility.

Approval of Reserve Bank:

According to the Post Office website, international money transfer services are absolutely safe, legal and reliable. This service is authorized by the Reserve Bank of India or RBI and supported by the Department of Posts.

Published by:Uddalak B

First published:

Tags: Money Transfer

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