BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Remittances can be received at any of the 17, 500 post offices on eMO network.
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The Payee receives the full amount in Indian Rupees.
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Maximum of 30 transactions per person per year.
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All of the above are features of IFS Money Order services
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Detailed explanation-1: -Procedure of sending the Money Order Buy a money order form at the counter of the post office. A remitter is the person who send money order. The money order form duly filed in, together with the amount of the money order and commission either in cash or by Cheque be presented at the post office counter.
Detailed explanation-2: -International Financial System (IFS) is software developed by UPU to coordinate international remittance services among the partner countries.
Detailed explanation-3: -Money Order This is a domestic money transfer facility through post office. Money send through money order is paid at the door-step of the payee and this service is available in all post offices . Maximum amount which can be remitted through a single money order is Rs. 5000/-.