Further to facilitate the
remitters in identifying the places near to them to route remittances through banking channels, a locator have been placed, he added.
"In addition the
remitter is also provided with a SMS feedback once the beneficiary account is credited."
Any attempt to divert the flow of remittances from unofficial to official channels requires an analysis of each of the above three segments of the remittance market to determine why
remitters prefer one channel to the other.
"As a result of this pro-active approach, the annual remittances from the UAE have gone up to approximately $ 3 billion and Pakistanis living in the UAE have become the highest per capital
remitters in the world," said the Ambassador.
The service includes conveniences such as SMS notification to the beneficiary once the payout is available, and SMS to the
remitter once the payment is made to the beneficiary, both at no extra cost.
One interesting feature of its remittance service is PamanaPadala, which helps recipients should the
remitter pass away unexpectedly.
A
remitter can avail this life insurance free of cost irrespective of the amount transacted.
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.
However, we have sent a tracer to the
remitter bank and will update our customer, the Beneficiary, upon receiving their feedback.
The
remitter 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.
