The India Post office provides a number of services to the people for their betterment. It includes Post Office Savings Scheme, Electronic Money Order (eMO), IFS Money Order, International Money Transfer Services, Jansuraksha Scheme, Mutual Funds, National Pension System (All Citizens Model), Electronic Clearance Service (ECS) and Services through IPPB.
Know what is International Financial System (IFS)? The IFS is software developed by UPU to coordinate international remittance services among the partner countries.
At present the IFS service of India Post is operational with La Poste Group, France and UAE.
Features of IFS Money Order:
- The remittances received under the IFS service are being paid through eMO service at any of the 17,500 post offices.
- The Payee receives the full amount in Indian Rupees.
- Remittances up to INR 50,000 can be received in cash.
- Amount exceeding INR 50,000 to be paid through Cheque subject to a maximum limit of USD 2500.
- Maximum of 30 transactions per person per year.
- Beneficiary has to furnish Unique MO Number (9 digits in case of UAE and 26 digits in case of France) along with valid identification documents like Voter ID Card, Driving License, PAN Card, Ration Card, Aadhar Card, Passport etc. A copy of such document has to be handed over to Post Office staff for their record (KYC Documents).
- Same day payment for remittances booked before cut-off time.
- Payments subject to RBI Guidelines from time to time.
- Payment can be collected from identified Post offices.