Transferring Cash Through Cellphone has been Launched in Andhra Pradesh
The department of posts has launched a Mobile Money Transfer Service (MMTS) across the 1,350 post offices in Andhra Pradesh.
If a person wants to transfer money to a person who lives in some part of the state he/she should go to the nearest post office and deposit the amount and after depositing the money the postal authorities will SMS a 6 digit secret code to the cellphones of the depositor and the recipient. The amount will be given to the recipient after disclosing the secret code at the post office.
The chief postmaster general stated that MMTS service is cheaper than the Money Order (MO) service. The amount transferred through MMTS is ranged from Rs 1,000 to a maximum of Rs 10,000. Minimum charges for transferring are:
- Rs 45 for transferring Rs 1,000 to Rs 1,500
- Rs 70 for transferring Rs 1,501 to Rs 5,000
- Rs 112 for transferring Rs 5,001 to Rs 10,000
Source – The Times of India