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 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.
1. 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.
2. 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.
3. 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.
4. Only 30 transactions can be received by a single beneficiary in a calendar year.
5. The Post Offices have been directed to treat the payee as "Most Favoured Customers", which ensures courteous and efficient service to them.
6. Under the KYC / AML / CFT guidelines issued by the RBI to prevent the system
of cross border inward money transfer into India to be used by criminal elements
for money laundering or terrorist financing activities, beneficiaries /
recipients of the money transfers need to provide sufficient information
necessary to establish their identity and proof of residence through reliable
Govt issued documents like
Aadhar Card etc,
a copy of which also has to be provided to the Post Office for receiving a transfer.
7. This International Money Transfer Service is safe, legal, fast & reliable. Also, it is approved by the Reserve Bank of India and is being provided by a Department of the Government of India i.e. the Department of Posts.
For further information / any assistance on the service, the Customer Service
Centre at the Postal Directorate, Dak Bhawan, Sansad Marg,New Delhi. Pincode:
Tel : 91-11-23096114 , Fax: 91-11-23096108 may be contacted.
E-mail: email@example.com (For Western Union IMTS)
firstname.lastname@example.org (For MoneyGram IMTS)