Dear Comrades,
Transferring money to India from 190 countries across the world will
now become easier through the MoneyGram service launched by India Post.
The
service will be available at 99 Head Post Offices and Mukhya Dak Ghar across
Andhra Pradesh, according to a press release from the department.
In India
money can only be received from abroad through the service.
For transferring
the amount, the sender will have to fill up the ‘Send Form’ at the overseas
MoneyGram counter and pay the principal amount apart from charges.
A special
8-digit reference number will be given to the sender which will be conveyed by
him to the payee.
For receiving the money, the payee in India has to approach
a post office offering the service and fill up the ‘Receive Form’ along with the
reference number.
To ensure that the amount reaches the right hands, the
payee will have to carry a valid photo identification such as PAN card, driving
licence, passport, voter ID, ration or Aadhaar card.
For a foreign national
to receive money in India, the original passport with valid Visa has to be
presented at the time of collecting money.
The limit on the amount sent
through the transaction is US $ 2,500 and the payment will be made in Indian
rupees at the prevailing exchange rates.
Further, the transaction can be used
only for personal remittances and towards remittances favouring foreign tourists
visiting India.
Trade-related transactions such as purchase of property,
investments, donations or contributions to charitable organisations and credit
to NRE accounts are not allowed under the scheme.
The service operates as per
the guidelines of RBI and all KYC/AML/CFT rules of RBI will be applicable. Also,
not more than 12 remittances are allowed to be received by a single individual
in one calendar year.
