Describe he remittance services offered by Post Office.
Answers
Answer:
transfer of funds vfrom one place to another is the remittance service.post office will make payments on behalf of their customers by using bank draft,email transfer, courier services etc
Answer:
Explanation:.
Post office provides two types of remittance services to its ctizens:
- Money Order
- Postal Order
The above two services helps people to transfer money from one part of the country to another to another and even outside the country.
a. Money Order
Post office can send money under money order service. It is an order directed by one post office to other to pay the person named in the form a certain sum of money. A maximum amount to the tune of Rs 5000 can be sent through a single form. It also contains space wherein one can write down few lines for the addresses.
The post office charges a certain commission from the person sending the money ,which fluctuates as the amount of money sent. There are different forms of money orders provided by the post office such as Telegraphic Money Order, Ordinary Money Order, Satellite Money Order, Speedpost Money Order, etc.
b. Postal Order
Postal order just like Money Order, is a service through which one can send money through Indian Postal Order. It is mainly used for paying examination fees or for any job application. These are available in different denominations. A nominal charge needs to be paid to avail this service. Money is sent to the payee, mentioning his/her name and also the the name of the post office where it is to be encashed.
Hope this helps.