More post offices entitled to global money transfer facility

Our Banking Bureau
13 May 2003

Coimbatore: The department of posts has extended the international money transfer service (IMTS), which facilitates instantaneous transfer of funds from abroad to India, to seven more sub-post offices in the Coimbatore postal division.

The facility, first introduced in the state of Tamil Nadu in May 2001, is currently available in the Coimbatore head post office (HPO) and the RS Puram HPO in the city. It is being extended to the post offices of Coimbatore Central, Karunyanagar, Peelamedu, Podanur, Kuniamuthur, Madukkarai and Ondipudur with effect from 14 May.

According to P Nallathambi, senior superintendent of post offices, Coimbatore division, the IMTS launched by the department in association with Western Union Financial Services, US, enables immediate remittance of money from 185 countries to India. "The recipients will be able to collect the money within minutes after the sender makes the remittance."

The full amount will be paid in Indian currency and any of the following documents — voter ID card, passport, driving licence or PAN card — may be produced to establish identity to receive the payment.