BANKING AFFAIRS

Detailed explanation-1: -Funds can be transferred using below options: From your POSB account to self or third party POSB accounts using the option Initiate Funds Transfer within DOP. From your POSB account to other bank accounts through NEFT or RTGS using the option Funds Transfer To Other Bank.

Detailed explanation-2: -Electronic Money Order A money order is an order issued by the Post Office for the payment of a sum of money to the person whose name the money order is sent through the agency of the Post Office. A ‘Payee’ is the person named in money order as the person to whom the money is to be paid .

Detailed explanation-3: -1) Add money from your bank account to your IPPB account. 2) Go to DOP services. 3) From there you can choose product-Recurring Deposit, Public Provident Fund, Sukanya Samridhi Account, Loan against Recurring Deposit. 5) Enter your PPF Account Number and DOP Customer ID.

Detailed explanation-4: -Instant Money Transfer (IMT) is an innovative domestic service that allows you to send cash to a receiver. All you need to do is mention receiver’s mobile number, amount to be sent and set Sender’s code. Beneficiary can withdraw cash using a debit card, from any ATM of the banks empanelled.