paul merchant circular

().. 3 , 21, , - 110125PUNJAB & SIND BANK(A Govt. of India Undertaking)HO Foreign Exchange Department3rd Floor, Bank House21, Rajendra Place, N Delhi-110125

: 011- 25728460, 25728462 Fax: 011-25747782 ; E-mail: [email protected]

Circular No.:1876/37/15Date 28/05/2015

Code No. of the Department H 9007

Number of pages of Circular 28

TO All BRANCHES/CONTROLLING OFFICES

REG: Guidelines of Money Transfer Service System (MTSS) with M/S Western Union (through agency arrangement with M/S Paul Merchant Ltd.).

Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to the beneficiaries in India. The bank already has a tie up in place with M/S Paul Merchant Ltd. (the Principal Agent of Western Union Financial Services International (WU) An International Money Transfer Entity) to facilitate inward remittances from overseas.

The branches can contact the CSC centers of M/S Paul Merchant for assistance and may also contact the nominated nodal officer of the Bank posted at the zonal office. We have been assured by M/S Paul Merchant Ltd. that they will be providing access to their system by installing the requisite software at branch level if desired by the branch to enable instant verification of the payment details. The nodal branch for MTSS i.e. B/O SCFB, Sector 17, Chandigarh will also have access to the said software.

The branches, in case of need, may also contact the nodal branch for MTSS

Name: SCFB, ChandigarhAddress: Punjab & Sind bank SCFB, Sector 17-B Chandigarh, PunjabPhone No.: 0172-5065361/ 5067360

The state wise contact list of All India CSC centers of M/S Paul Merchant Ltd is as follows:-

STATECSCTIMINGCONTACT NUMBER

ANDHRA PRADESHTANUKU9AM TO 8 PM08819-225255; 09346548625

ANDHRA PRADESHRAZOLE9AM TO 8 PM08862-221577; 09346548620

BIHAR & JHARKHANDPATNA8.30-7.00 PM0612 - 2320024 / 3209295 / 3245691

GUJARATAHMEDABAD9.30-7.30 PM079-26425174 / 26421569

HARYANAAMBALA9.30-6.30 PM0171-400352; 09355676903; 09355676904

KARNATAKABANGALORE9.30-8.00PM080-25563533/ 25563522

KERALACOCHIN 19.30-7.00PM0484-3114700 / 2343323

MP & CHHATISGARHINDORE9.30-8.00 PM0731-2513838; 09303001613

MAHARASHTRAMUMBAI9.30-8.00 PM022-64560049 / 64560051

NEW DELHINEW DELHI9.30 - 6.30 PM011-25711095; 09310154552

PUNJABCHANDIGARH8.00 - 8.00 PM0172-5045986 / 5045987 / 5045988 / 5045990 / 5045995; 09317714280; 09317714302

PUNJABJALANDHAR9.00 - 7.00 PM01824 - 503670 / 503662 / 503669; 09317714247

PUNJABHOSHIARPUR8.30 - 7.00 PM01882 - 500330 / 500329 / 500331; 09317714259

TAMIL NADUSALEM9.30 A.M-7.30 P.M9344726614

TAMIL NADUTRICHY9.30 A.M-7.30 P.M0431-3208320

TAMIL NADUDHARASURAM9.30 A.M-7.30 P.M093818-52805

TAMIL NADUMADURAI9.30 A.M-7.30 P.M9344061433

TELANGANAE SEVA- HYDERABAD8AM TO 8 PM040-64585560; 09346687461

TELANGANAKARIMNAGAR9AM TO 8 PM0878-2234351; 09346548617

TELANGANALIBERTY-HYDERABAD9AM TO 8 PM040-66105560/61/62; 09346548609

TELANGANANIZAMABAD9AM TO 8 PM08462-235353; 09346548623

UP CENTRALLUCKNOW9.30 - 7.00 PM0522-4130483/4130487;09369188981; 770580117

UP EASTGORAKHPUR9.30 - 7.30 PM9305029729

UP EASTVARANASI9.30 - 6.30 PM0542-2506022; 09369188953

Although money remittances from abroad are a good source of non interest income as the branches will be earning commission for facilitating money transfer under MTSS from M/S Paul Merchant and also a good source of increasing CASA, yet, it is observed that the volumes through MTSS have not picked up. In fact it is showing a declining trend. It needs prompt remedial action at the field level.Please note that the branches earning such commission are required to pay service tax as per circular no.1853/14/2015 dated 13.02.2015 issued by Head Office foreign exchange Department.Although operational guidelines are already in place, for ready reference the detailed operational guidelines is being given hereunder;

1. Operational Guidelines:Each branch authorized to undertake MTSS business is allocated Location ID by M/S Paul Merchant Ltd.The operational guidelines for branches undertaking money transfer services under MTSS are as follows:-i) The remitter in foreign country goes to Western Union outlet and initiates the remittance in foreign currency with all requisite details of the beneficiary and in turn gets the 10 digit number called as Money Transfer Control Number (MTCN).ii) The remitter informs the MTCN to the beneficiary in India.iii) The beneficiary approaches the branch with the MTCN and required KYC compliance documents. The branch then is required to get To Receive Money (TRM) Form supplied by M/S Paul Merchant filled in by the beneficiary along with the photocopies of Photo ID and Address proof of the beneficiary. Apart from the Banks own KYC norms the reference may be made from the list of documents supplied by M/S Paul Merchant Ltd. as given in Point No.5.The branch will be required to verify whether the amount has been received or not. The branch can contact the CSC center of M/S Paul Merchant or branches equipped with M/S Paul Merchant software for verification of payment can verify the details inline instantly before the payment is made to the beneficiary. Up on verification of the KYC documents the branch can make the payment to the beneficiary.iv) The payment will be made by debiting the remittance of fund/ cash suspense account and crediting the customer account/ cash account. The amount paid will be reimbursed by the nodal branch.v) On the following day, the nodal branch will be reimbursing the funds paid on previous day by the branches.

2. Verification of Payment

The branches are required to verify whether the payment has been received or not from M/S Paul Merchant and if received it has to be locked with them immediately before releasing the payment to the beneficiary. For this the branches can call their respective CSC center or contact the nearly branches equipped with software provided by M/S Paul Merchant. In case the branch calls the CSC center the staff at the center will lock the payment. The branches equipped with the software are required to follow the procedure provided in Annexure-1 to lock the payment for themselves as well as for the branches who approach them for verification and locking of the payment.

3. Accounting Procedure

While making the payments the branch must enter the 10 digit MTCN and name of the remitter and beneficiary in the narration box. The following entries are to be passed in Finacle:-

i) At the time of making the payment to the customerDebit Remittance of fund/cash suspense A/C (Sol Id 5018030001) Credit Customer A/C or Cash A/C .

ii) At the time of reversal of entries on receipt of funds from nodal branchDebit Sundry Creditors Funds/ assets in Transit A/C (Sol Id 5039026001)Credit Remittance of fund/ cash suspense A/C (Sol Id 5018030001)

iii) At the time of receiving commission on quarterly basis from the nodal branch.Debit Sundry Creditors- Funds/ Assets in Transit A/C (Sol Id 5039026001)Credit Commission on Foreign Exchange A/C (Sol Id 5053010001)

4. Payment Instructions

The branches can make the payments in cash to the beneficiary for an amount up to Rs.50,000/-. For payments equal to or more than Rs. 50,000/-, the amount will be credited to customers account or draft/ managers cheque will be issued.

5. Acceptable KYC documents

M/S Paul Merchant Ltd. have provided the list of documents that are acceptable as KYC documents and branches are required to take a note of it. Original Photo ID document must be sighted and verified for each and every transaction. The photocopy of the ID and address proof should be self- attested by the beneficiary for every transaction. A copy of the ID and Address proof document should be retained for records.i) For Indian nationals Valid Passport Valid Drivers License issued by respective State Road Transport Authority ( driving License issued by foreign countries should not be accepted and Learners License is not acceptable) Voters Card UID card issued by UIDAI PAN Card (a separate address proof should be collected from the beneficiary) Central/ State Government employee ID Card (Any other Government issued ID proof can only be accepted if approved by Western Union and the Board of the Primary Agent authorized to conduct the money transfer transaction.) Employee ID of Armed Forces and Para Military services (Employee ID refers to only IDs issued to the permanent employees working with the issuing authority. For example, IDs issued to civilian residents etc. by army/ police should not be accepted. Address proof should be collected where applicable). Employee ID of RBI, SEBI, TRAI and IRDA.

ii) For Foreign Nationals Valid passport with valid visa (Driving license and other in-country identification documents cannot be accepted as a primary identity proof document- could be accepted as additional IDs) Valid Refugee card

Note: In case a foreigner has lost his passport/ refugee card, a copy of the document along with a copy of the FIR filed with the Police would be required. In case of expired visa, an extension letter granted by relevant government authorities (Diplomat Office/ relevant police authorities/ FRRO) would be required along with a copy of the passport.

6. RBI Guidelines

The MTSS payment system is governed by RBI Master Circular on MTSS issued every year on 1 July with a sun-set clause of one year. Branches to keep them updated through RBI website www.rbi.org.in.i) Only cross border personal remittances such as towards family maintenance and remittances favoring foreign tourists visiting India shall be allowed under this arrangement. Donations/ contributions to charitable institutions/ trusts, trade related remittances, remittance towards purchase of property, investments or credit to NRE accounts shall not be made through this arrangement.

ii) A cap of USD 2500.00 has been placed on individual remittance under the scheme. Amounts up to Rs. 50,000/- may be paid in cash to the beneficiary in India. Any amount exceeding this limit shall be paid by means of account payee cheque / demand draft/ payment order, etc. or credited directly to the beneficiarys bank account only. However, in exceptional circumstances where the beneficiary is a foreign tourist, higher amounts may be disbursed in cash. Full details of such transactions should be kept on record for scrutiny by the auditors/ inspectors.iii) Only 30 remittances can be received by a single individual beneficiary under the scheme during a calendar year.

Further, we have already instructed the zonal offices to have one Nodal Officer in the zonal office for MTSS business. Apart from CSC center of M/S Paul Merchant, for any query the branch may also approach the Nodal Officer at respective zonal office.

7. Precautions

i) Branches should vigorously follow up with the nodal branch and ensure that no entry in Remittance of Fund/ Cash Suspense A/C pertaining to MTSS payments remains outstanding for more than one day under any circumstances.ii) The paying branch to ensure on daily basis that amount paid matches with the credit received from the Nodal branch. In case of any discrepancy the same must be resolved with the Nodal Branch immediately.iii) The reconciliation must be done on daily basis invariably and no entry should remain outstanding as on the last day of the week.

Assistant General Manager

WU TRANSACTION SOFTWARESWUPOSTRANSLINKANNEXURE-1

Western Union Confidential2010 Western Union Holdings, Inc. All Rights Reserved.WUPOS Technology

The New Western Union Point Of Sale Technology

LAUNCHING WUPOS

Launch WUPOS by double clicking on Western Union Agent Gateway Shortcut (located on your Desktop)

Western Union Confidential2010 Western Union Holdings, Inc. All Rights Reserved.3

LOGIN

Login4

Enter your user ID and passwordClick Log in (Enter) to open the main menuSystem will lock the user ID after 3 times of unsuccessful login attemptsYou need to change to a new password the first time you access the WUPOS applicationNote: User ID for WUPOS is a combination of existing Operator ID & Account code of the location

Western Union Confidential2010 Western Union Holdings, Inc. All Rights Reserved.

5Change Password

Enter your initial passwordEnter your new password which should be 8 characters alphanumeric. Please note that password is not case sensitiveConfirm the new password and click on Change buttonLogin again with the new password


In the Main Menu click on Payout Money (F6) to receive moneyMain Menu6MAIN MENU


Enter the MTCN and click on Search button7PAYOUT MTCN SEARCH


8PAYOUT MTCN SEARCH RESULT

Sender Name, Receiver Name and Payout amount details are displayed.Follow the Western Union payout guidelines to verify with customer provided informationEnsure that customer has a Valid IDClick on Payout Button to proceed


Enter the Customer Information as required, namely address details, phone number, date of birth, country of birth & ID details.Note that details ending with are mandatory.9PAYOUT COMPLIANCE TEMPLATE


10PAYOUT COMPLIANCE TEMPLATE (CONTD.)

On completion of entering customer information confirm the details by ticking Agent Verified Customer Data check box.Click on Payout button to submit the transaction.


Transaction is successfully paid out nowTo view the receipt click on the link Click here to view and print the receipt11PAYOUT COMPLETION


Print Receipt12PRINT RECEIPT

Click on Print receipt button to print 2 copies of Receipt (Customer and Agent copy).


To view the transaction log, click on OTHER SERVICESClick on Transaction log or F913TRANSACTION LOG


Select the period and click on Search button to view the transaction list14TRANSACTION LOG (CONTD.)


TRANSACTION LOG (CONTD.)

The log can be either printed or exported by clicking Printable button or Export to file button respectivelyTransaction Receipt is available for Reprint along with the log which can be printed if there is a printing issue during the payout.15


2. TRANSLINK PAYMENT

STEP 1- Requirements for Translink Payment Operator ID Terminal ID Password

STEP 2 ENTER 10 DIGIT MTCN (Money Transfer Control Number)

STEP 3- After that verification from agent or customer, enter amount in Amount please ensure to match the amount mentioned in system and confirmed by Agent / customer.

STEP 4 - Enter ID Proof given by customer with ID Number. VALID IDS - Adhaar card, Passport, Voter card, Ration card-with additional ID, DL, Refugee card,

STEP 5 - Need to fill all the detail required Address, Contact Number, PIN Code, ID type, ID Number, Issue Date, Receiver detail, etc.

STEP 6 Final Page - Payment Done

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