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Foreign exchange service launched at two post offices

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New facility: A range of services are available at the foreign exchange service counters in select post offices. A customer exchanges foreign currency at the counter in Triplicane post office on Wednesday.
New facility: A range of services are available at the foreign exchange service counters in select post offices. A customer exchanges foreign currency at the counter in Triplicane post office on Wednesday.

K. Lakshmi

Services are provided in collaboration with HDFC Bank

CHENNAI: The Department of Posts opened a foreign exchange service counter each at the Triplicane and Vadapalani post offices on Wednesday.

The facilities available at the counters include sale or exchange of foreign currencies, traveller’s cheques, insurance of foreign currency demand drafts, transactions against international credit cards and telegraphic wire transfers.

The services are being provided in collaboration with HDFC Bank.

Senior Superintendent of Post Offices (Chennai Central Division) R. Venkataraman said that with this, the services were available at eight post offices across the State.

Apart from the two new facilities, the services are available at the Chennai GPO and T. Nagar and Anna Road HPOs.

Going by the number of transactions last fiscal year, the foreign exchange service counters have received good patronage. Of the total business of Rs. 2.5 crore generated across the State, the T. Nagar HPO alone accounted for Rs. 1.5 crore.

Senior Superintendent of Post Offices (Chennai South Division) A. Thomas Lourduraj said the customers could make use of the services at the counters by producing identity proof documents such as passport, driving licence or postal identity cards.

Officials of the Postal Department said more such counters would be opened in sub-post offices in Mylapore and Anna Nagar. It would be extended to post offices in rural areas that have potential for such services. There are no hidden charges and customers need not have account in post offices for sending money to persons living abroad. The counters would deal with 23 different currencies.

B. Srijit, Regional Sales Head (Tamil Nadu Foreign Exchange Services) of HDFC Bank said postal staff have been trained to detect counterfeit currency notes. Seventy five locations across the State have been identified to launch the service by this fiscal.

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