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Thursday, June 17, 2010

iMO - India Post's Instant Money Order

Indian Postal Department has started a new service called iMO (Instant Money Order)

iMO is an instant web based on-line money transfer service that gives speed, mobility, safety and reliability for your money transfer.

Customers can transfer money from INR 1,000/- to INR 50,000/- from designated iMO Post Offices in India

iMO office will pay the amounts upto 20,000 in cash and above 20,000 through cheques

How iMO works:
1. The sender remits the money in an iMO counter and collect his "16 digit iMO number" in a sealed condition.
2. The sender has to communicate this number to the receiver through his own means (SMS/Mail/Call)
3. The receiver goes to his local iMO counter and present the "16 digit iMO number" along with a photo ID card, to collect his money

Post office will charge a commission of 150 to 330/- for the transaction.

1 comment:

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