Sunday, December 30, 2012

Instant money order a boon for customers

ALLAHABAD: Gone are the days when you waited anxiously for the postman to arrive with money order. India Post's i-MO is a web-based instant money transfer service offered by India Post to transfer money between two resident individuals within India.
Director postal services, Allahabad region, Krishna Kumar Yadav told TOI that money transferred through i-MO can be received by the payee within few minutes of the transfer. To make this user more cost-efficient for customers i-MO tariffs have been reduced lately.

I-MO is an instant, reliable, affordable and most convenient way for transferring money within the country, for sending an amount up to Rs 50,000 a customer has to pay only Rs 120. Now, customers have to pay Rs 100 for an amount of Rs 1,000-10,000, Rs 110 for transfer between Rs 10,001 and 30,000, and Rs 120 for transfer between Rs 30,001 and Rs 50,000. The facility of ordinary money order is already being provided by India Post, in which Rs five is charged per Rs 100. The instant money order is much faster and efficient compared to ordinary money order.
Further Mr. KK Yadav added that, to send money through i-MO, a customer is required to fill a "To Remit Payment Form" and submit it with money and i-MO commission at i-MO post office counter. i-MO counter clerk will give a printed receipt immediately after booking the i-MO that contains 16 digits i-MO number. This 16 digits i-MO number has to be conveyed by sender to the receiver over phone, SMS, or e-Mail or any other means. Receiver can collect money from any designated i-MO Post Office counter on presentation of the 16 digits i-MO number. He will be required to fill up a simple "To Make Payment Form" and submit it along with a copy of any of the prescribed Identity Proofs.
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