Dear Comrades,
India Post, on
Friday, announced the launch of Mobile Money transfer service, in Karnataka
Circle, jointly with BSNL. With this, the facility to transfer money will start
at 400 chosen post offices across the State in the first phase. It will be
gradually extended to all 1,500 post offices across the State, Chief Post
Master—Karnataka Circle M S Ramanujan said.
M S Ramanujan said the service would
be of great help to migrant population, who, otherwise, have to rely on other
modes of money transfer. It will also benefit students who study away from
their home towns, he added.
Using this service one can transfer
minimum of Rs 1,000/- and maximum of Rs 10,000/-. To use the service, senders
would need to visit the post offices in the region where the service is
available, deposit the amount and give the receiver’s details. After this, they
would get a 16 digit transfer code on their mobile phone, which they would need
to send to the recipient via SMS. The recipient can claim the money at a nearby
post office, by showing the transaction code and verifying his identity.
Recipient also needs to withdraw the money within 7 days of transaction
The objective of the service is to
lower the cost of transaction to enable transaction of even very small amounts.
The charge for transferring Rs 1,000/- to Rs 1,500/- will be Rs 45/-,
while for transferring Rs 1,501/- to Rs 5,000/-, the fee will be Rs 79/- and
for Rs 5,001/- to Rs 10,000/-, the commission will be Rs 120/- including
service tax.
