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.