DM Monitoring
BISHKEK: Russian Post together with the Kyrgyz Post launched a new PosTransfer money transfer service between the Russian Federation and the Kyrgyz Republic, the press service of Kyrgyzstan’s State Registration Service said.
It allows to instantly make postal money transfers, which become available for receipt immediately after sending.
In Russia, the service is provided by more than 30 thousand post offices, in Kyrgyzstan – more than 400. The transfer limit is RUB 300 thousand.
“The currency of sending and issuing in Russia is Russian rubles (RUB), in Kyrgyzstan – Kyrgyz soms (KGS). The commission for the service is 1.2%, which is charged to the sender. It is important that in Russia, the payment of the transfer can be ordered at home,” said Alena Bocharova, the advisor on financial technologies and products of the Russian Post.
The Kyrgyz Post representatives emphasize the PosTransfer system will allow migrants from the Kyrgyz Republic to send remittances to relatives living in remote regions where there is no banking sector.
PosTransfer also works with Armenia’s postal operator. It is expected that in the future the geography of the service will expand and it will be possible to make transfers to other countries through the system. The total volume of international money transfers of Russian Post in 2019 amounted to RUB 16.2 billion.
