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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. 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: -
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 Rs 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 12 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 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.
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 PIN : 110 116, Tel :
91-11-23096114 , Fax: 91-11-23096108 may be contacted.
E-mail: indiapostcsc@rediffmail.com (For Western Union IMTS)
indiapost.moneygramcsc@gmail.com (For MoneyGram IMTS)
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International
Money Transfer
