The Department of Posts (DoP) has launched the mobile-based money transfer service by Post Offices for quicker transfer of money from one city to another and this service will help those who were unable to avail banking services. The service will be operated by DoP with technological support from BSNL.
HOW TO AVAIL THE SERVICE:
Persons intending to use the service would have to go to the Post Office which will provide them a unique PIN code after the transfer of money. The sender would have to send the PIN to the recipient through a text message who would be home delivered the money after verification of the PIN on his mobile. The recipient could also go to the Post Office and collect the money.
To speed up the money transfer service, the DoP had introduced Electronic MO and Internet MO and that the mobile MO was the third such service. The charges for mobile money transfer will be the same as it is on the traditional money order — five per cent of the remitted amount, a department spokesman said.