answersLogoWhite

0


Best Answer

Its simple a money transfer service using the postal network. The postal network various countries is one of the few institutions that is allowed to handle money transfer services without requiring a specific money transfer or money transmitter license. Its earlier mandate of being a postal service had money transfer as part of the ancillary services a post office would offer.

In short, think of it as a Western Union, but via your Post Office.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How would you explain postal remittance services?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

What are some advantages and disadvantages of postal service being a private sector?

The most advantage from postal service being in the private sector is that it would ensure faster, customer-friendly service to the common people. However, the public utility service i.e. Postal Service being in the hands of the private sector, they would not hesitate to enhance postal fees on frequent occasions.


How would you determine the market demand for your firm's IT services?

Hold focus groups to assess your services.


What financial services do the Bank of America offer?

There are many different types of financial services that the Bank of America offers. Some of the services offered would be loans, deposits, and investments.


What is the difference between a bank and post office?

While banks and post offices offer a service, they are different services. In a sense, both take "deposits" (money; letters) and give "withdrawals" (money; mail). But, banks handle and count more money in one day than would a post office. As well, at the rate that the United States Postal Service is losing money, banks continually make money from providing their services. Like banks, P,O. customers can walk in. But banks have drive-throughs; P.O.'s don't (except at tax time). Banks do not deliver their service to your doorstep, but the post office carriers do. A Postal Carrier is a government employee, but cashiers are corporation employees.


What kind of services does the PNC Financial provide?

The kind of services that PNC Financial provides would be classified as banking services. They provide savings, investments, loans and mortgages to name a few.

Related questions

How to write remittance letter?

You first need to introduce yourself. Then take the time to explain the issue and how you would like it to be resolved.


What is a sentence for remittance?

Remittance is, essentially, the act of paying. An example sentence would be: The cashier was patiently waiting for his remittance.


Why would a business use remittance processing services?

A business would use the remittance processing services mainly because it speeds up the process of collecting money. This service allows a company to allow a bank to check all the money collected via this process. Because the bank is handling this process, the funds can automatically deposited into the company's account without going through the company's accounting system.


Asking for advice on the price of postage for postcard?

That depends on the location because postal services provide different services. However, most postal services offer postcard services with a lower price in comparison to a normal letter. Besides, if you use normal letters you would have to buy envelops which is an additional cost.


What are Courier Services and postal mail services?

Hi there, I am guessing that you are asking the difference between courier services and also postal services. The main difference will be, courier services would usually be international door to door delivery service which require acknowledgment by someone in the address. While postal services will be a service that delivers mail domestically and do not have tracking, tracing or acknowledgment requirement. Other than these there might be other things that might interest you on Courier Services please visit my blogsite at klicksend.wordpress.com


What year was the postal service invented in?

Postal services have been in existance for many centuries. The Romans would send messengers long distances. The Incas had a systerm of runners to deliver messeges.


How long would it take for a letter to be sent in Tudor times?

It would take a very long time. They weren't as quick as are postal services nowadays.


Which remittance company provides an instant way to transfer money from the USA to Ghana?

online remittance is in trend these days but people are afraid to use online money transfer services because they think its not secure but personally I would suggest everyone to use Remit choice money transfer they are secure in any way and you can send your money with in minutes with them.


What would be a good thing to do to earn money for kids ages 10 through 11?

Postal services, you know, delivering mail etc.


What is postcode for athy co. kildare?

Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.Ireland does not have postcodes. For a postal address it would be:NameStreetAthyCo. KildareIrelandFor an internet form looking for a postal code use ie.


What services typically include a return address stamp on their mailouts?

Most services sending out mail through the United States Postal System should include a return address on their mailouts. Common services that one would receive mail from include banks, colleges and restaurants.


What is meant by remittance?

A remittance is a money that is sent from one party to another. Broadly speaking, any invoice or bill payment can be called a remittance. However, the term is most often used nowadays to describe a sum of money sent by someone working abroad to their family back home. there are a lot of remittance companies with which you can send money easily but I would recommend using REMIT CHOICE LIMITED because they offer the best rates and instant transfer with zero transaction fee