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MONEYGRAM

MONEYGRAM. Indiapost has tiedup with MoneyGram Payment Systems, Inc., USA to offer the International Money Transfer Service Only Inward remittance to India Operates as per the guidelines of the Reserve Bank of India. Salient features of Money gram . Permitted remittances:

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MONEYGRAM

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  1. MONEYGRAM

    Indiapost has tiedupwith MoneyGram Payment Systems, Inc., USA to offer the International Money Transfer Service Only Inward remittance to India Operates as per the guidelines of the Reserve Bank of India.
  2. Salient features of Money gram Permitted remittances: Family maintenance Remittances favouring foreign tourists visiting India Remittances not permitted: Trade related remittances Remittances towards purchase of property, investments or credit to NRE Accounts Donations/contributions to charitable organizations
  3. Salient features of Money gram Maximum limit for single remittance is USD 2500 or its equivalent. Maximum number of remittances per beneficiary in a calendar year is 30 Payments should be made in Indian Rupees at ongoing exchange rates. All payments exceeding Rs.50,000 should be paid only by Cheque or by direct credit to the account of the recipient. All KYC/AML/CFT norms/rules/regulations/ instructions are applicable to the remittances received under this service.
  4. The receiver/payee fills up a “Receive Form” in triplicate The receiver, has to present any one of the original photo ID listed below:- PAN Card Driving License Passport Voter ID Card Government (Central/State/PSU) Employee ID Card Ration Card AADHAR Card issued by UIDAI Foreign Nationals will have to present their original Passport with valid Visa
  5. Postmaster verifies the identity of the receiver & fills ID details in ‘Receive Form’ Transfers the Receive Form to the designated APM The APM verifies receipt of remittance in moneygram application If received APM enters type & number of ID proof and date of birth of the receiver
  6. On authorisation a Code Number with 5 digits appears on the screen. Authorization Number is written on Receive Form System generates two copies of the Receipt
  7. Postmaster prepares a Pay Order Treasurer pays the money to the payee/receiver in the presence of the Postmaster The receiver signs on the Receive Form and the Pay Order A daily report will be generated
  8. Thank you
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