India Post to launch Money Order Videsh

The Department of Posts will roll out a new service called Money Order Videsh very soon. This service which is to be launched in association with the Eurogiro core banking system of British Post would enable the postal customers to send money overseas and also receive money from abroad.

The new service is likely to be launched nationwide by the Union communications minister A Raja on Saturday at a function to be held in Kerala.

The service will meet the international money remittance needs like cash to cash, cash to account and account to cash transfers. “It is a unique service as this type of transfer of money is not available in the commercial banks so far. Initially, the service would be launched in the head post offices”, said a senior official of the postal department.

The service is likely to be introduced at the head post offices in Orissa in due course of time, said SK Kamila, post master general of the Berhampur postal region. There are 35 head post offices in Orissa.

Presently, the postal customers can receive money from overseas locations through the Western Union Money Transfer service.