To enable a system to send SMS to the remitter
and the beneficiary, after crediting the remittance amount in the beneficiary account or in the system for the cash payment at the counter.
can avail this life insurance free of cost irrespective of the amount transacted.
can therefore avail of this life insurance scheme free of cost for as long as he/ she wishes by simply remitting money on a monthly basis through Xpress Money, irrespective of the amount transacted.
The company is offering services at all its branches, including , credit to SBI accounts through SBI Express within 4 to 24 hours with an SMS confirmation, credit to State Bank of Travancore accounts within hours with an SMS confirmation to the remitter
and credit to all banks in India within 4 to 24 hours through SBI NEFT .
It is important to note that although the remitter
in this case wished money be sent to a distinct location, no money actually crossed the border physically and no money necessarily entered the conventional or official banking system (unless of course the Pakistani recipient decided to place it there).
simply needs to visit any of Xpress Money's 170,000 agent locations across the globe and provide the beneficiary's Account Title and Account Number, upon which the agent will be able to pull up all related details of the account holder and the transfer will be done immediately.
A regular money remitter
himself, Michael Obenieta never thought a simple act of charity could cause him so much stress.
The moment the account is credited, both the remitter
as well as the beneficiary will receive SMS alerts on their mobile, while taking out apprehension both at the 'Send' and 'Receive' sides of remittance, and saving on follow-up costs, it added.
The confirmation of credit through SMS to both beneficiary as well as the remitter
is the unique value addition of the service being offered by Mustafa Sultan Exchange.
The Easypaisa International Home Transfer facility indicates our commitment to provide convenience and safety to both the remitter
and beneficiary and contribute to Pakistan's economy as a smart and innovative partner.
Each remittance received was broken into packages without the knowledge of remitter
and shared between the conniving officers of banks and State Bank of Pakistan.
International remittances from abroad into accounts domiciled [here] after the grace period will be processed with delays and additional processing fees if the IBAN is not provided by the remitter
," added Robert Thomson, chief manager for information technology at the Central Bank of the UAE.