Postal forces combine network
Emirates Post and India Post have launched a new service that enables customers to transfer money through both its postal networks.
Entitled International Express Money Order', the new service is powered by UPU's International Financial System (IFS). It is hoped the system will allow UAE residents to transfer money more speedily to any part of India.
"The new facility represents a boon to Indians in the UAE, as India Post will guarantee quick delivery of the money to every remote corner of India," said Ibrahim Karam Ali Bin Karam, chief executive officer of Emirates Post.
"We have fixed affordable charges to enable thousands of UAE residents to avail of the secure International Express Money Order endorsed by the UPU. We are positive our customers will find this service highly beneficial and convenient," he added.
Two options are available to customers using the shared network; they can either have money delivered to the addressee's residence or the addressee can collect money from an authorised post office in India. Likewise, money orders sent from India through India Post can be payable at post offices in the UAE.
The agreement stipulates that a single money order issued by Emirates Post for payment in India cannot exceed a value of US$2500. It also states that only 12 money orders addressed to one beneficiary will be allowed in a calendar year.
"The new agreement reflects the strong social and commercial bonds between the UAE and India," said I.M.G. Khan, director general, India Post.
"Through this system, the long-felt need of UAE Indians for a cost-effective electronic Money Order facility will be fulfilled. As our network encompasses the length and breadth of the country, we are in a position to provide a service that is unmatched by private operators," he added.