1.
Money
Order: -A money order is an order issued by
the post office for the payment of a sum of money to the person to whom it is
sent through the post office. A 'payee' is the person named in money order as
person to whom the money is to be paid. The advantage of sending money to
someone through money order is that the money is delivered at the house of the
receiver.
2.
Instant
Money Order: -Indian post presents Instant
Money Order (IMO) the instant on-line money transfer service which is
convenient, reliable and affordable. IMO is an instant web based money transfer
service through which one can transfer money from Rs10, 000 to Rs 50,000 from
designed IMO post offices. It is simple to send and receive money.
3.
International
Money Transfer: -Money transfer service scheme
is a quick and easy way of transferring personal remittances from abroad to
beneficiaries in India. Only inward personal remittances into India are
permissible. No outward remittance from India is permitted. Money transfer is
now available through post offices in India, which helps in instant remittance
of money from around 195 countries to India.
4.
Money
Gram: -The department of post has entered
into an International Co-operation Agreement with Money Gram payment system,
Inc., USA to offer to the general public, the Money Gram International Money
transfer Service through selected post offices in India. This service has
started from 29th September, 2011.
5.
Money
Order Videsh: -Money Order Videsh is a new
offering of Indian Post facilitate remittances to foreign countries and
receiving the remittances from foreign countries through the medium of post
office. This service was started from 24th October, 2009. These
services are offered through head post offices.
6.
Electronic
International Money Order Services: -International
Money remittance between people of India and the UAE became easier after India
Post and Emirates Post; UAE signed an agreement to launch electronic
International Money Order through postal network using secure International
Financial System (IFS) of the UPC (Universal Postal Union) from February, 2008.
7.
Foreign
Exchange Services: -Many Indians go abroad for
travel, studies and business and also large number of foreign tourist visit
India on vacation and business. The need arose for a reliable and quality
service provider for purchase and sale of foreign exchange. India post with a
network of more than 1.5 lakh post offices is best to offer forex services in
an efficient and economical manner.
