BangaloreOne centres offer money transfer services

BangaloreOne centres offer money transfer services

The Hindu

State Government enters into pact with Weizmann Forex Limited

# RBI norms allow only 12 inbound money transfers to one person in a year
# Excel payments can be paid at these centres
# BangaloreOne centres looking at the possibility of processing passport applications

BANGALORE: The 14 BangaloreOne multi-payment centres across the city are beginning to offer more services.

Starting last week BangaloreOne centres are offering long distance money transfer services. This has come about with the State Government entering into an arrangement with Weizmann Forex Limited, the principal agent for Western Union Services India. Inbound of transfer of money from overseas to recipients in Bangalore has now become possible.

Non-resident Indians can now send money through the BangaloreOne service to friends and relatives here with minimum delay. Those sending money can do so at close to two lakh Western Union locations in 204 countries. A "money transfer control" (MTC) number is allotted to the sender who has to communicate it to the recipient here. Within 10 minutes or less, the money is paid over the counter to the receiver who has to produce a photo identity card and the MTC number.

The existing Reserve Bank of India guidelines allow only inbound money transfer, limited to 12 transfers to one person in a calendar year; each transaction cannot exceed $ 2,500. President of Weizmann Forex B.S. Shetty says the tie-up with the Karnataka Government will help in expanding their network.

Another facility BangaloreOne centres offer now is payment of Bharat Snchar Nigam Limited's Excel mobile phone bills, under their post-paid plans. Landline bill payments are already being accepted. Excel users can log onto www.bangaloreone.gov.in to pay their bills or do it in person. With Excel set to expand its network and offer more tariff plans, the facility comes in handy for many.

After BangaloreOne centres opened five months ago, there was criticism that some of the services promised at their launch are not fully operational.