Even without an account, money from abroad comes directly to those houses in the villages.
If you live abroad and want to send money home, this news may be useful to you. In fact, India Post Payments Bank has started money transfer service from abroad to India in association with Euronet’s Ria Money Transfer. The person receiving money from abroad will not have to pay any fee on the amount deposited into their account and only the sender will have to pay the fee for sending the money to Riya Money. But if your loved one doesn’t have a bank account, how can you send one?
This is how money will arrive from abroad without an account
If your loved one has a bank account and you want to send them money, then you don’t need to worry. You can send money even without an account. In such a situation, money sent from abroad will arrive directly at the village post office. Even if you don’t have an account, the money will be sent immediately via mobile phone number and other details, which can be sent to your home directly from the post office or by postman. The recipient of the money, who sends the money from abroad, will not have to pay any fees for this. Fees will apply there.
This service is intended to help people living in villages whose relatives live abroad and the elderly or their dependents have to fight hard to receive the money sent to them. Those who receive money through this service will also have the option to withdraw the total or partial amount according to their choice. If you want, you can withdraw the entire amount at once or little by little.
It has a presence in 200 countries.
Riya Money Transfer Company has a presence in around 200 countries. It has a 22 percent market share in the money remittance segment. This partnership with IPPB is expected to increase the company’s number of presence locations in India by approximately 30 per cent.
