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2 Mts Training


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2 Mts Training

  1. 1. Money anywhere in minutes... !
  2. 2. Why <ul><li>Fast </li></ul><ul><li>Simple </li></ul><ul><li>Safe </li></ul><ul><li>Dependable </li></ul><ul><li>Convenient </li></ul>The better way to receive money from many countries..! “ The Ethnic brand of Money Transfer that offers Instant Remittance …..”
  3. 3. <ul><li>Registered office at London </li></ul><ul><li>Associate company of UAE Exchange Center LLC-Abu Dhabi </li></ul><ul><li>Spread Over 80 Countries and 11500 Agent locations with high performance network </li></ul>XPRESS MONEY SERVICES …
  4. 4. THE XPRESS MONEY EDGE …!! <ul><li>Sender gets instant intimation of the cash pick up through SMS, thus saving money on telephone calls. </li></ul><ul><li>Anti laundering policy in place and the highest operating standards to safeguard customer interest. </li></ul><ul><li>Retail fund transfer which transfers funds through advanced technology. </li></ul><ul><li>100% safe and secure money transfer system </li></ul><ul><li>No bank account required to receive money </li></ul><ul><li>365 days, 24-hour support center </li></ul>
  5. 5. How Xpress Money is competent compared to the competitor ? XPRESS MONEY Is not agent specific Works as agent specific COMPETITIVE BRAND Advtg: Customer loyalty Beneficiaries are informed over phone This service is not provided Advtg: Better customer service Remitter receives the message on the transaction paid to the beneficiary This service is not provided Advtg: Cost saving for customers Pin number not mandatory to receive the transaction Works On PIN Numbers Advtg: Convenience
  6. 6. <ul><li>It is a person to person money transfer technology which enables a person to send/receive money through any of our network agents instantly </li></ul><ul><li>Telephone Notification </li></ul><ul><li>Message </li></ul><ul><li>SMS ( Short messaging services) </li></ul>THE XPRESS MONEY SYSTEM
  7. 7. Sender Sending Agent Receiving Agent Beneficiary XPRESS MONEY HOW XPRESS MONEY WORKS ?
  8. 8. Major Tie-Ups . . .!
  9. 9. How to pick up Money from a Paying Location ? ? <ul><li>Visit a Paying location </li></ul><ul><li>Visit a nearby Branch / Agent Location. </li></ul><ul><li>Procedures </li></ul><ul><li>Complete the &quot;Receive Now&quot; form.   </li></ul><ul><li>The mandatory fields include: sender's name, sender's city/country and expected amount.  </li></ul><ul><li>Present the completed form and Valid photo identification to the customer care executive at the paying location. </li></ul><ul><li>Collect funds   </li></ul><ul><li>Collect money from the cashier. You will be also given a proof of transaction . </li></ul>
  10. 10. <ul><li>Only Person-to-person remittance such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible under the arrangement. </li></ul><ul><li>Any Single remittance under the Scheme shall not exceed USD 2500 or its equivalent in other Currencies </li></ul><ul><li>Allowed to have only 12 transactions to a single Beneficiary in a Calendar Year </li></ul><ul><li>All remittances exceeding Rs. 50,000 shall be paid only by Cheque/DD/P.O or by direct credit to the account of the recipient. </li></ul><ul><li>Voter's ID/ Election Card, Passport, Military photo ID Photo affixed ration card PAN card Bank Passbook (Photo Affixed) College photo ID etc </li></ul>RBI REGULATIONS FOR XPRESS MONEY SERVICE ??!
  11. 12. How to avoid Money laundering? ANTI MONEY LAUNDERING <ul><li>Black money obtained through illegal sources could be converted to good money after channeling through these remittance systems this is called MONEY LAUNDERING. </li></ul><ul><li>Any transaction that involves a transfer of maximum per transaction limit or more is automatically classified as a large value transaction for which authorization needs to be taken from the compliance officer, located at the control center. </li></ul><ul><li>Know your customer – Keep full details of the customer who sends or receives large amount of transfers. Transfers grater thane USD 5,000/- </li></ul>What is Money Laundering? We are proud to affirm that we have amongst the best and most active “Know Your Customer” and Anti-money Laundering policies which conform to the US Patriot Act and the OFAC compliance laws. “Xpress Money” has Internal Compliance teams based in USA, Europe and Middle East.
  12. 13. How to Operate The XM Application !!
  13. 14. Open Internet Explorer . . . Type https:// Or Wait for the home page to open When the customer approaches you…… <ul><ul><ul><li>Input the Agent Code , User-ID, Password, & Pin </li></ul></ul></ul>Click “Submit”
  14. 15. POINTS TO REMEMBER !! <ul><li>Memorize your login details </li></ul><ul><li>Don’t reveal login details </li></ul><ul><li>Change your password regularly </li></ul><ul><li>Login details are case sensitive </li></ul><ul><li>Don’t write and keep password </li></ul>
  15. 16. F requently A sked Q uestions
  16. 17. <ul><li>Yes. Without any restrictions regarding nationality. Also to foreign national visiting India, the ceiling of Rs.50,000/= for paying in cash in a day does not apply too. Ideally the Paying Agents should hold on record a copy of the Passport / Visa of the beneficiary as the ID document in this case, since the Inspecting Officials from Reserve bank may like to see it. </li></ul>Whether XM can be paid by us to a minor? Yes. There is nothing that prevents it. But, of-course you have to do it with some extra care. Can a foreign passport holder (foreign national, not a person of Indian origin) be the beneficiary of an XM? If such an XM is received can it be paid by us at the counter? FAQ FAQ Inform the inability to report the arrival of the XMS to the Xpress Money Help Desk at FS Administrative Office in Kochi at [email_address] and keep trying at regularintervals to convey the message of the arrival to the beneficiary.
  17. 18. <ul><li>Can an XM be “transferred” or endorsed by a beneficiary to another with a written and signed request? </li></ul>No. It is not possible. Xpress Money is not transferable or negotiable. Under what section of FEMA 1999 is Reserve Bank of India giving permission for web based money transfers like XM? Reserve Bank has given it in pursuance of sub-section (c) of Section 3 of FEMA 1999. FAQ FAQ
  18. 19. <ul><li>It is not stated anywhere. But if it is through Xpress Money, the per transfer limit and the limit on the number of transfers per person per calendar year set by Reserve Bank applies. </li></ul>Only the Sender. That too by contacting the Sending Agent and only through Xpress Money. And this can be done anytime before it is actually paid. Even if the Paying Agent has informed the beneficiary, it can be cancelled or amended by the Sender Who can cause to change the name of the beneficiary of an XM and when? What is the maximum amount that can be sent a month for family maintenance? FAQ FAQ
  19. 20. <ul><li>Trade related remittances or donations to charitable organizations etc. can not be received in India through Xpress Money. Also it can not be used for acquiring immovable properties, investments in shares, for credit of NRE/FCNR accounts </li></ul>Xpress Money can be received in India for family maintenance and also by foreign tourists visiting India. All remittances have to be necessarily personal remittances, and not trade related. For what all purposes XM channel can be used for receiving money in India? For what all purposes XM channel can not be used for receiving money in India? FAQ FAQ
  20. 21. <ul><li>What is the Commission/ Charges to be collected from the beneficiaries of XM from the paying end? </li></ul>Any remittance between two individuals which are not trade related. It differs from place of originating and amount. But it is better to ask the beneficiaries to find it out from the Senders. Absolutely, Nil. The full amount appearing in INR are to be paid to the beneficiaries. What is the commission / transaction fees payable at the Sending end? What is a &quot;personal remittance”? FAQ FAQ
  21. 22. <ul><li>Driving licence, PAN Card, Voters ID Card, Any Bank Pass Book with photograph affixed, Passport etc. etc. Any genuine and valid id, preferably with a photograph which helps to confirm the identity of the claimant as the beneficiary is fine. Any list can only be an illustrative one and not comprehensive. </li></ul>Which one is the best ID for the purpose of paying an XM? Freedom from reference numbers and intimating the beneficiary on the arrival of the remittance by the Paying Agent when the contact telephone number is given along with the transfers are two distinct advantages of Xpress Money. What are the best feature of the XM compared with other web based transfers? FAQ FAQ
  22. 23. FAQ FAQ Inform the inability to report the arrival of the XMS to the Xpress Money Help Desk at FS Administrative Office in Kochi at [email_address] and keep trying at regular intervals to convey the message of the arrival to the beneficiary. What will you do when you call repeatedly to intimate the arrival of an XM nobody picks up the phone from the other end? Say specifically you are calling from _____________Firm/Bank, ___________Branch and request him/her to ask the beneficiary to call you back as soon as possible, and mentioning the arrival of the Xpress Money, without going into the details, of course also giving your name and the telephone number. What will you do if the beneficiary is not available at the phone number given in the XM and the person at the other end who has picked up the phone offers to convey any information you want to convey?
  23. 24. <ul><li>How many digits are there for Xpin, the XM reference number? </li></ul>16 Who has to produce the Xpin to the Paying Agent ? No one. As a matter of fact freedom from reference numbers is the USP of Xpress Money. What information is not be given by the beneficiaries of XM remittances while claiming it in the Receive Now Form? XPIN, the Xpress Money reference number ( even if provided to beneficiary by Sender) and the Relation with the Sender need not be given by the claimant/beneficiary of a remittance. FAQ FAQ
  24. 25. It is a remittance having a Sender Name or Beneficiary Name which is matching to a prohibited name in the OFAC list.( Office of Foreign Assets Control, more popularly known as OFAC is the area of US Treasury that is responsible for administering and enforcing US Government Sanctions.) It may be a real hit or a false hit. However, the Compliance Officer of Xpress Money has to verify and confirm that the sender/beneficiary are not the one in the OFAC list and then revoke the suspension. Xpress Money Compliance Officer may require information on them and the Xpress Money Agents have to furnish it. Paying Agents are not authorized, under any circumstances, to make the payments of such suspended transactions, unless the suspensions are revoked by Xpress Money. The hardships caused by genuine customers can not be totally avoided because of legal and other such compulsions under anti-money laundering requirements and all has to cooperate in this regard. What is a “Suspended Transaction” under XM? FAQ FAQ
  25. 26. <ul><li>The Paying Agent can pay ideally the entire amount through cheque or by credit to the beneficiary’s bank account ( of course, other than NRE/FCNR even if the remitter and beneficiary are the same person.). The beneficiary can also pick it up in cash on different days not exceeding any day Rs.50,000/=, if it is more convenient to him. </li></ul>Xpress Money requires the following information to revoke the suspension of a transfer: ( a) Full name of the person named as beneficiary, his/her date of birth, his/her nationality. (b) Full address of the person named as beneficiary. (c) Identification documents of the person named as beneficiary. (d) Serial number, date of issue, office of issue of the identification documents. (e) Any other information specifically requested by Xpress Money. To revoke “Suspension” XM requires what all information? If a beneficiary receives multiple XM transactions in a day aggregating to, say, Rs. 250,000/=, assuming he has not received any transfers during the year, how it can be paid to the beneficiary? FAQ FAQ
  26. 27. <ul><li>Automatically by the Xpress Money Server since all transactions are to be scanned as Xpress Money has to follow Anti Money Laundering Procedures in place. They have also to provide proof that all the transactions have been scanned and for making their auditing authorities to cross check. Suspension is done again and again for the transactions with the same Sender, Beneficiary, Sending Agent, Paying Agent since MAM Server is not embedded with neural network in AML Software, as per the laws in force. </li></ul>Who is doing the suspension of an XM? FAQ FAQ
  27. 28. <ul><li>Twelve per calendar year, as it stands now. </li></ul>What is the maximum number of XMS that can be paid to the same beneficiary in a year ( irrespective of the number of Senders ), as per recent guidelines of Reserve Bank of India? No. Currently Reserve Bank of India has stipulated a per transfer limit to the equivalent of USD2500/= and it can not be exceeded. You may however note that currently Xpress Money has voluntarily put a per transfer limit of Rs.50,000/= on its own. If an XM single transfer in excess of the equivalent of USD 2500/= is received, in India can it be paid? FAQ FAQ
  28. 29. <ul><li>It can originate from locations from any Xpress Money Send Agents anywhere in the world whose central banks allow it. It is increasing since Xpress Money is enrolling Agents world-wide. </li></ul>It can be detected from same Sender Name & Sender particulars, same Send Agent particulars, same Beneficiary Name and Beneficiary particulars, same amount in both or all the transactions. Paying Agents should note that each Xpress Money transfer whether originated in the ordinary course or inadvertently will have unique and different XPINs. Obviously, hence different XPINs is NOT an indication which will help you find out whether duplication is inadvertent or not. From what all places can XM originate to India? How can an inadvertent duplication / replication of XM can be detected? FAQ FAQ
  29. 30. <ul><li>The Paying Agents are expected to contact UAE Exchange – Cochin Office and report the same without paying except one. The second / subsequent ones should be paid only after obtaining confirmation that they are not inadvertently made . </li></ul>What is to be done when an inadvertent duplication / replication of XM is seen received by the Paying Agent? The reasons can include among other things: a) You have inadvertently saved it and/or paid it to another person by mistake. b) The customer may be making the statement not based on facts. c) The sender has (wrongly) made the transfer to another Paying Agent d) The Sending Agent has wrongly input the transfer to another Paying Agent f) The transfer has not been affected by the Send Agent due to some technical or other problem etc. When a customer comes to our counter and informs money has been remitted in his/her favour to you through XM and gives all relevant details and we do not find the said transfer in our outstanding list, what can be the reasons for it? FAQ FAQ
  30. 31. <ul><li>It can be paid if it is from Xpress Money following all precautions, if it is otherwise in order, to the new beneficiary. </li></ul>Inform to Xpress Money Help Desk through email at that the Send Agent is making transfers in two names which is not in order and seek confirmation to whom it is to be paid. Incase we get an XM transfer favoring two names like “Mr. X or Ms. Y” for cash disbursement what is to be done? What is to be done if we get an e-mail amending or changing the name of the beneficiary of an XM transfer? FAQ FAQ
  31. 32. <ul><li>HELP DESK </li></ul><ul><li>UAE Exchange & Financial Services Ltd </li></ul><ul><li>Money Transfer Department </li></ul><ul><li>Boss Big Building, </li></ul><ul><li>M.G. Road, Cochin </li></ul><ul><li>Tel No: 0484-3048061 Fax: 0484-3048062 </li></ul><ul><li>e –mail: [email_address] </li></ul>
  32. 34. <ul><li>MoneyGram is a global leader in international money transfers and the largest processor of money orders in the U.S. Helps people and businesses by providing affordable, reliable and convenient payment services. </li></ul><ul><li>Through the MoneyGram® international money transfer network of approximately 92,000 agent locations worldwide , customers can wire cash quickly (usually within 10 minutes), reliably, conveniently and at attractive prices to recipients in 170 countries. </li></ul>
  33. 35. Receive Now…?
  34. 36. Delta Works….a glance.
  35. 37. MoneyGram Receive…
  36. 38. Log in …?
  37. 39. Reports….
  38. 40. F requently A sked Q uestions
  39. 41. FAQ FAQ <ul><li>Why MoneyGram? </li></ul><ul><li>Convenience </li></ul><ul><li>Speed </li></ul><ul><li>Reliability </li></ul><ul><li>Complimentary 3-minute phone call </li></ul><ul><li>Complimentary 10-word message </li></ul><ul><li>5%Money Saverdiscount </li></ul>Who can use MoneyGram? Anyone who has a need to send money quickly with confidence can use the MoneyGram® money transfer service. Customers include business and leisure travelers, students and people away from home working to support family members.
  40. 42. FAQ FAQ Where can I go to send or receive a MoneyGram? Throughout North America, MoneyGram service is available at selected supermarkets, check cashiers, drug stores, mailbox outlets and other retail outlets. The MoneyGram international network includes premier banking institutions, postal offices, foreign exchange houses, travel agencies, transportation centers and nearly all classes of retail trade. You can find a convenient location in your area by using our MoneyGram agent locator . Or, visit to send money on-line from the U.S. to any of our approximately 92,000 agent locations.
  41. 43. FAQ FAQ How much does it cost ? MoneyGram fees are competitive and provide a great value to consumers. Fees vary, based on send and receive cities, country and dollar amount being sent. Please check with your nearest agent or call 1-800- MoneyGram (1-800-666-3947) for details on your particular transaction. How do I pay for the transaction? MoneyGram agents accept cash only for transactions at agent locations. Customers can use Visa® or MasterCard® or ACH debit of their bank account when sending money via the Internet using MoneyGram ® e-Money Transfers . To send money on-line or find more information about this service, go to
  42. 44. FAQ FAQ How quickly does the money get there? The money is available for pickup usually within 10 minutes for most types of transactions. How will the transaction be paid out to the receiver? Money transfers will normally be paid out in cash (U.S. or local currency) depending on destination, dollar amount and availability, but could also be paid out in travelers check, money order, a MoneyGram money transfer check or a combination thereof depending on the availability at the agent's location. International payouts vary based on local laws and availability as well.
  43. 45. FAQ FAQ How does MoneyGram work? The sender goes to a MoneyGram agent, fills out a send form , pays the agent with cash and receives a receipt with a reference number , which should be passed on to the receiver. The receiver then goes to a MoneyGram location, fills out a receive form , shows identification and receives their MoneyGram. It's that easy! Customers in the U.S. can also send money using MoneyGram ® e-Money Transfers on-line. What if my receiver doesn't have identification? You can include a test question (something only you and your receiver would know the answer to) on the send transaction. This can serve as an identification method for most transactions below a certain dollar amount.
  44. 46. FAQ FAQ How much can I send at one time? You can send from $ .01 to $10,000.00 in one transaction, up to $20,000.00 a day for most transaction types. Certain restrictions apply depending on sending location and receive destination. Additional identification and information may be required over certain amounts. What sorts of discount programs do you offer? Sign up for a free MoneySaver Gold Card and receive 5% off your next qualifying transaction. Additionally, we often run price promotions on certain types of transactions and in certain locations. What if I want a refund? Contact your original send location where refunds are normally available.