DoP Introduces ‘Electronic Money Transfer’
The Department of Post (DoP) has introduced an electronic money transfer facility across the country that would make remittance of money through the postal route faster.
The new facility would be offered to customers at no extra cost, and the money orders will be booked electronically from one post office to another post office across the country, which are inter-connected through Internet or broadband.
The eMO facility would have similar tariffs and limits of remittance that the existing money order service has. Initially, the service would be launched across 2,500 post offices in the country.
However, DoP may consider raising the maximum limit of remittance on successful stabilizing of process.
Along with newly launched service, the existing paper format money order facility would also be available along with the electronic service.