India Post to go for electronic transfer of money

New Delhi, Jul 29 (UNI) Money orders will reach much faster with the Department of Posts shortly introducing electronic mode for faster remittance of money.

The revamped money order service will provide more efficient and improved service to the customers at no extra cost. It would also reduce transmission of vouchers from one place to another and provide for a centralised information system on the money order service.

The initiative is part of the government's ongoing efforts to make a difference in the post office operations.

Booking facilities of the electronic money order (EMO) will be available at post offices having Wide Area Connectivity or Broadband Connectivity.

It will be done using a different form with pre-defined message codes. The connected head post office or sub post office will book money orders electronically for other connected head offices, including sub offices and branch offices under it.

The EMOs can be paid at all offices including branch post offices. At the connected post office, electronic money order would be printed. In case of electronically transmitted money orders meant to be paid at connected post office itself, the same would be transferred to the relevant branch for payment.

The Money order (MO) meant to be paid at non-connected offices would be sent through Account bag for payment, as done in the present system. After making the payment and on receipt of paid voucher, the date of payment will be uploaded in the central server by a connected post office.

However, the present service of ordinary domestic MO would also remain available in the Post Offices, as at present.

The connected head post office will receive money orders for its non-connected sub post offices and branch offices. Similarly, the connected sub post offices would receive money orders for self as well as for branch offices in account with it.

The electronic money order will have similar tariff and limits of remittance as an ordinary money order. Once the process stabilises, the Department may consider enhancing the remittance charges.

Initially, transmission will be between connected head post offices and sub post offices. Once the connectivity increases all the HPOs and important sub post offices will be covered. A trial on MO software is in operation at the New Delhi HO, Bangalore GPO, Mysore HO, Indore GPO and Tiruchirapalli HO.

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