t.y. project

7/31/2019 T.Y. Project

1/150

A STUDY ON CONSUMER BEHAVIOUR WITH RESPECT TO

WESTERN UNION & MONEY TRANSFER SERVICES.

1

A STUDY ON

WITH RESPECT TO

Project guide:

Professor, Nihar Nanavati.

Professor, Saurin Shah.

Professor, Smit Shah.

SUBMITTED TO:-

L.J INSTITUTE OF BUSINESS ADMINISTRATION,

VASTRAPUR,

AHMEDABAD, 380015.

SUBMITTED BY:

Name RollNo. Name RollNo.

Sakariya Binal 81 Bhoraniya Tarannum 12

Patel Bijal 56 Patel Suhani 67

Shah Bhavi 89 Panchal Ekta 51

Shah Khushbu 90 Sanghvi Mansi 83

Patel Sonam 66 Pathan Nazneen 71


2/150



2

CERTIFICATE

This is to certify that we the students of

have submitted this project report based on comparative

analysis to L.J. Institute of

Business Administration afficiated to Gujarat University for the year 2010-

11 in fulfilment of Gujarat University requirements for the completion of thepractical studies during the third year BBA programme and for the award

Business Administration.

Name RollNo. Name RollNo.

Sakariya Binal 81 Bhoraniya Tarannum 12

Patel Bijal 56 Patel Suhani 67

Shah Bhavi 89 Panchal Ekta 51

Shah Khushbu 90 Sanghvi Mansi 83Patel Sonam 66 Pathan Nazneen 71

For, L. J. Institute Of Business Administration

Director Project Guide External Evaluation

------------------ -------------------- -----------------------

Place: - Ahmadabad

Date :-


3/150



3

This is a project on Comparative Analysis-Western union & Money

transfer services, prepared on comparison of varied money transfer services. It

also aims to know preferences of consumers for an ideal money transfer

service provider. All these companies are well known that are engaged in the

service sector and has a considerable hold over the market in the National and

International level also.

It was very interesting for us to study & analyse the Comparative

Analysis between the Western Union & money transfer services which has

considerable amount of employees as it is engaged in the services sector.

It was very interesting to study & analyse the consumers preference

and then prepare a project report, analyzing the consumer behavior as we are

also a part of the general mass. It was the first time that we had to perform a

market survey to know their preference.

Experience is the best teacher This saying has played a guiding role

in comparative study and analysis as a part of the curriculum of the B.B.A.

programme of Gujarat University. This survey & the consequent report on it

allow the student to practically understand and experience the market and

study the real business environment.

This practical training at BBA programme develops a feeling abut the

difficulties and challenges in the real business world. Only theoretical

knowledge does not impart complete education, practical experience must

accompany theoretical knowledge to add meaning to education. To fulfill the

objective study of Consumer Behavior is a part of B.B.A. programme.

In this direction, we have tried our level best to present a Project

report based on the comparative study on Western Union and money transfer

services provided by various money transfer companies. We hope that, you

will find this project, worthy enough to describe various aspects on different

money transfer companies.


4/150



4

The successful completion of this pepobt would not have been possible

without co-operation and support of our teachers, friends and the institute.

We are thankful to the management for providing us the opportunity to study

the practical training in their organization.

We express our sincere thanks to the consumers for their valuable response.

Which allowed us to guide us during the preparation of the project report?

We are also thankful to Without their

valuable support the training was not made possible and who provided full

guidance, co-operation and valuable suggestion about the project report.

We are obliged to the companies and all the managers, chief executives and

other personal of the company who heartily provided the information about by

answering our questions.

We are thankful to our college friends and all those who have helped us

directly or indirectly in preparing the project report.

With thanks..

Place:_________

Date:__/__/____.


5/150



5

NO PARTICULARS PAGE NO.

1. Certificate 2

2. Preface 3

3. Acknowledgement 4

4. Problem statement 6

5. Objective of study 7

6. Macro information 107. Micro information 25

Western union 26

SBI 44

Money Gram 47

Thomas Cook 51

HDFC 55

Competitor 58

8. Questionnaire of service provider

9. Questionnaire of consumers

10. Analysis of service provider

11. Analysis of consumers

12. Research methodology

13. Utility of research

14. Limitation of study

15. Observation

16. Findings Of service provider

17. Findings of consumer

18. Suggestion

19 Bibliography

20. Declaration

21. Appendix


6/150



6

22. Conclusion


7/150



7

Since years ago people use barter system for exchanging things to satisfy

their needs before invention of money.

After invention of money people hire agents for providing money to their

love once. In Guajarati they known asAANGDIYA.

After some years people transfer their money by transportation like by

road, by water, by air.In Morden trend after invention of new technology people transfer money

to their love once by mobile, master cards etc.

Now a days people prefer to transfer money through internet, net banking

etc.


8/150



8

For a common man or in a general term,comsumer behaviour implies

consumers attitude towards buying of commodities.

According to Walter & Paul, consumer behaviour is the process whereby

individual deciding whether, what, when, where, how, from whom to purchase

goods & services.

According to G.B.Giles, a vital factor in marketing is to satisfy the customer to

leave him with the feeling after selling transaction has been completed, that

the seller has rendered a valuable service which the buyer will be glad to use it

organisation.


9/150



9


10/150


11/150



11


12/150



12

Businesses and individuals need to send money to distant places for manyreasons, including to pay debts, make purchases or simply to send funds to a

family member who's short on cash. Whatever the reason, money transfers

provide a fast and secure means of sending money.
http://www.ehow.com/relationships/http://www.ehow.com/relationships/http://www.ehow.com/relationships/


13/150


14/150



14

Money Transfer Services refer to services in which money or funds can be

transferred from one location to another with the help of several of methods.

A large number of reputed companies offer a variety of money transfer service

to customer.

The methods are quick, dependable, and easy to process, with which money

can be sent or received all over the world without any hassles; the sending

payments or purchasing money orders have never been so easy. Nowadays,

the Internet has also become a highly popular method for transferring money

and has services that are quick, affordable, and safe in comparison to other

conventional methods.

A money transfer is an order placed with a financial institution or wire-transfer

service provider such as Western Union to disburse funds a person has

provided to anotherparty. Banks and wire-transfer providers have networks of

affiliated financial institutions or agents worldwide that complete the

requested transfer of funds on a person's behalf, usually for a modest fee.

Today the majority of money transfers are carried out by electronic funds

transfer (EFT) usingthe Internet.

The main advantages of money transfers today remain the same as those in

1837. Wire transfers are fast and secure; electronic funds transfer has only

made these advantages greater. Low cost is another benefit. Providers such as

Western Union charge modest fees, and electronic funds transfer using one's

own bank account is often free. For creditors who have a problem debt, using

a service such as Western Union Quick Collect provides added security, since

the company will authorize the transfer only when the money has actually

been paid.
http://www.ehow.com/parties/http://www.ehow.com/parties/http://www.ehow.com/parties/http://www.ehow.com/internet/http://www.ehow.com/internet/http://www.ehow.com/internet/http://www.ehow.com/internet/http://www.ehow.com/parties/


15/150



15

Money Transfer Company is that type of a

company which provides a comprehensive variety

of money transfer services. With the help of money

transfer companies, money can be sent to any location of the world without

any hassles.

Money transfer companies help their customers in many ways through their

products and services, which include consumer to consumer money transfer,

money orders and other types of business facilities.

Sending payments or money orders with the help of money transfer

companies have never been so convenient. Money transfer companies carry

out their business operations with the help of their network agents.

The process of transferring money from one location to another is quick,

dependable, as well as easy to perform. At present, the internet is playing an

important role in the money transferring business. Money transfer companies

use internet as a medium for overseas money transfer processes because it is

secure, quick and cheap when compared with other traditional money

transferring methods.

Nowadays, most of the money transfer companies are implementing online

money transfer processes. In this process, money can be transferred over the

internet by using debit cards or credit cards. Online money transfer has

become one of the most common methods of money transfer business and it

is used for making payments abroad for any goods purchased or to send

money to any person overseas. The processing is fast (maximum 1-2 days).

Various money transfer companies (including credit card companies issuing

VISA and MasterCards) are providing money transfer services over the

internet.


16/150



16

The leading money transfer services companies include the following:

One way to transfer money is to pay the funds (plus a fee) to a third-party

provider. For example, a person might pay cash to a Western Union agent and

send instructions to "wire the money" to a friend in a distant city. This can be

done online or in person at a store that acts as an agent (see Resources). The

use of online money-transfer services such as PayPal is also very common.

Another method is to authorize a direct transfer of funds from a bank account

to another bank account. A person may do this in person at a bank or by

phone, but the most common method is to simply execute the transferpersonally using online access to one's bank account.


17/150



17

There are two major types of money transfers. A business or individual may

authorize a money transfer through a bank. The most common alternative is

to pay the money to a third-party provider like Western Union or PayPal and

indicate where the money is to be sent. A third form of money transfer using

email is employed by the five largest Canadian banks, but this method is

generally avoided elsewhere because of concerns over the security of email

communications.

The different methods used for the purpose of funds transfer by money

transfer companies include followings:

Electronics Funds Transfer (EFT) Wire Transfer Giro Email Money Transfer Walk-in Money Transfer Service Telephone Money Transfer Service Payout Services Online Money Transfer Service Money Orders Prepaid Cards and Services

There are main four different types of money transfer services available:wire

transfer, bank draft, Internet money transfer, and money orders. All these

methods can be used both domestically and internationally. A money transfer

service is used to quickly provide funds to both businesses and individuals.

They are typically used in situations where a check would take too long, maynot be accepted or where the recipient does not have a bank account.
http://www.wisegeek.com/what-is-a-wire-transfer.htmhttp://www.wisegeek.com/what-is-a-wire-transfer.htmhttp://www.wisegeek.com/what-is-a-wire-transfer.htmhttp://www.wisegeek.com/what-is-a-wire-transfer.htmhttp://www.wisegeek.com/what-is-a-bank-draft.htmhttp://www.wisegeek.com/what-is-a-bank-draft.htmhttp://www.wisegeek.com/what-is-a-money-order.htmhttp://www.wisegeek.com/what-is-a-money-order.htmhttp://www.wisegeek.com/what-is-a-money-order.htmhttp://www.wisegeek.com/what-is-a-bank-draft.htmhttp://www.wisegeek.com/what-is-a-wire-transfer.htmhttp://www.wisegeek.com/what-is-a-wire-transfer.htm


18/150


19/150



19

A check drawn by one bank against funds deposited into its account at

another bank, authorizing the second bank to make payment to the individual

named in the draft.

Abank draftis a written order in the form of a check instructing the payment

of money from one bankaccountto another. The bank draft is drawn by one

bank against funds that it has deposited in an account at a second bank. The

first bank is giving its consent for the second bank to release funds or make

payment to the individual named on the bank draft. A bank draft is usually

more acceptable to a payee than a personal check. Other terms for bank draftare draft, bill of exchange, and order of payment, banker's draft and negotiable

instrument. A bank draft is similar in form to the common bank check.

Frequently, a bank draft is used to transfer funds and to settle outstanding

balances between banks.

A bank draft is a type of money transfer service most commonly used for

payments to companies in foreign countries. A bank draft is issued by a bank or

money transfer company and is cashable at any banking institution. This

method of paymentis more expensive than other methods, but is preferred bycompanies and large institutions due to additional security and audit trail

features.
http://www.investorwords.com/401/bank.htmlhttp://www.investorwords.com/2130/funds.htmlhttp://www.investorwords.com/42/account.htmlhttp://www.investorwords.com/3634/payment.htmlhttp://www.businessdictionary.com/definition/individual.htmlhttp://www.investorwords.com/1576/draft.htmlhttp://www.investorglossary.com/bank-draft.htmhttp://www.investorglossary.com/bank-draft.htmhttp://www.investorglossary.com/bank-draft.htmhttp://www.investorglossary.com/bank.htmhttp://www.investorglossary.com/bank.htmhttp://www.investorglossary.com/account.htmhttp://www.investorglossary.com/account.htmhttp://www.wisegeek.com/what-is-a-method-of-payment.htmhttp://www.wisegeek.com/what-is-a-method-of-payment.htmhttp://www.wisegeek.com/what-is-an-audit.htmhttp://www.wisegeek.com/what-is-an-audit.htmhttp://www.wisegeek.com/what-is-an-audit.htmhttp://www.wisegeek.com/what-is-a-method-of-payment.htmhttp://www.investorglossary.com/account.htmhttp://www.investorglossary.com/bank.htmhttp://www.investorglossary.com/bank-draft.htmhttp://www.investorwords.com/1576/draft.htmlhttp://www.businessdictionary.com/definition/individual.htmlhttp://www.investorwords.com/3634/payment.htmlhttp://www.investorwords.com/42/account.htmlhttp://www.investorwords.com/2130/funds.htmlhttp://www.investorwords.com/401/bank.html


20/150



20

Financial instrument, issued by a bank or other institution, allowing the

individual named on the order to receive a specified amount of cash on

demand. Often used by people who do not have checking accounts. One of the

main benefits of a money order is that it is more trusted than a personal check,

because it is prepaid. Money orders can be obtained at many locations,

including a post office, grocery store, or bank, and may require a small fee.

Several specialized firms offer money orders as one of their money transfer

services. The sender goes to the cash office and creates a money order for a

specific cash office and person to pick up. The recipient is notified by the

sender and is responsible for going to the cash office and picking up the funds.

A secretpasswordis often used to validate that the correct person is receiving

the money order.
http://www.investorwords.com/1951/financial_instrument.htmlhttp://www.investorwords.com/401/bank.htmlhttp://www.investorwords.com/2501/institution.htmlhttp://www.businessdictionary.com/definition/individual.htmlhttp://www.investorwords.com/3495/order.htmlhttp://www.businessdictionary.com/definition/receive.htmlhttp://www.investorwords.com/205/amount.htmlhttp://www.investorwords.com/747/cash.htmlhttp://www.investorwords.com/3415/on_demand.htmlhttp://www.investorwords.com/3415/on_demand.htmlhttp://www.businessdictionary.com/definition/person.htmlhttp://www.investorwords.com/846/checking_account.htmlhttp://www.investorwords.com/461/benefit.htmlhttp://www.investorwords.com/3100/money.htmlhttp://www.businessdictionary.com/definition/location.htmlhttp://www.investorwords.com/3756/post.htmlhttp://www.businessdictionary.com/definition/office.htmlhttp://www.investorwords.com/4763/store.htmlhttp://www.investorwords.com/1922/fee.htmlhttp://www.wisegeek.com/what-is-a-money-order.htmhttp://www.wisegeek.com/what-is-a-money-order.htmhttp://www.wisegeek.com/how-often-should-i-change-my-password.htmhttp://www.wisegeek.com/how-often-should-i-change-my-password.htmhttp://www.wisegeek.com/how-often-should-i-change-my-password.htmhttp://www.wisegeek.com/how-often-should-i-change-my-password.htmhttp://www.wisegeek.com/what-is-a-money-order.htmhttp://www.investorwords.com/1922/fee.htmlhttp://www.investorwords.com/4763/store.htmlhttp://www.businessdictionary.com/definition/office.htmlhttp://www.investorwords.com/3756/post.htmlhttp://www.businessdictionary.com/definition/location.htmlhttp://www.investorwords.com/3100/money.htmlhttp://www.investorwords.com/461/benefit.htmlhttp://www.investorwords.com/846/checking_account.htmlhttp://www.businessdictionary.com/definition/person.htmlhttp://www.investorwords.com/3415/on_demand.htmlhttp://www.investorwords.com/3415/on_demand.htmlhttp://www.investorwords.com/747/cash.htmlhttp://www.investorwords.com/205/amount.htmlhttp://www.businessdictionary.com/definition/receive.htmlhttp://www.investorwords.com/3495/order.htmlhttp://www.businessdictionary.com/definition/individual.htmlhttp://www.investorwords.com/2501/institution.htmlhttp://www.investorwords.com/401/bank.htmlhttp://www.investorwords.com/1951/financial_instrument.html


21/150



21

Internet money transfer services have increased in

Popularity as security has improved. Several large companies specialize in this

type of service. Funds can be transferred to anyone with an emailaccount in

the world and is available is all recognized foreign currencies. Transfers can be

created through a third party, or directly from the senders bank account.

Third party companies usually provide a free basic account set up, but charge a

transaction fee for every transfer of funds to your bank account. In addition,

there is a processing delay of between five to seven days to receive the funds

in your bank account. If you are going to use this type of service, check the

reputation and conflict resolution steps first.
http://www.wisegeek.com/what-is-email.htmhttp://www.wisegeek.com/what-is-email.htmhttp://www.wisegeek.com/what-is-email.htm


22/150



22

ONLINE TRANSFERS:-

There are many online businesses that allow you to transfer money from your

bank account or credit card and to another person. You have to sign up for an

account via the company's website and the receiver must also have access tothe Internet and an account. In most cases, both users will need a bank

account and an email address. Examples of this kind of online business are

PayPal, Exchange4free or Money bookers.

How it works?An Email Money Transfer resembles ane-checkin many respects. The money is

not actually transferred by e-mail. Only the instructions to retrieve the funds

are.

The sender opens anonline bankingsession and chooses the recipient, the

amount to send, as well as a security question and answer. The funds are

debited instantly, usually for a surcharge.

An e-mail is then sent to the recipient, with instructions on how to retrievethe funds and answer the question, via a secure website.

If the recipient is subscribed to online banking at one of the participating

institutions, the funds are deposited instantly at no extra charge.

If the recipient's deposit account is not at one of the participating

institutions or not subscribed to online banking at all, the funds are

deposited within three to five business days, and a surcharge (currently

$4.00) is deducted from the amount received.
http://www.ehow.com/internet/http://www.ehow.com/internet/http://www.ehow.com/business/http://www.ehow.com/business/http://dictionary.sensagent.com/E-check/en-en/http://dictionary.sensagent.com/E-check/en-en/http://dictionary.sensagent.com/E-check/en-en/http://dictionary.sensagent.com/Online_banking/en-en/http://dictionary.sensagent.com/Online_banking/en-en/http://dictionary.sensagent.com/Online_banking/en-en/http://dictionary.sensagent.com/Canadian_Dollar/en-en/http://dictionary.sensagent.com/Canadian_Dollar/en-en/http://dictionary.sensagent.com/Online_banking/en-en/http://dictionary.sensagent.com/E-check/en-en/http://www.ehow.com/business/http://www.ehow.com/internet/


23/150



23

These are like the traditional debit card but can be sent to the recipient

anywhere in the world. The sender can deposit money onto the card at any of

the corresponding agencies for a very small fee of approximately $5 to $10.The recipient only has to go to any ATM machine and withdraw the money

deposited to him, or he can use the card in grocery stores, shops and

convenience stores. Only the amount of money placed on the card can be

spent. These cards can be purchased at a money transfer agency, convenience

stores, retailers such as Walmart or Target, or online from a financial

institution. Money can be redeposited at these same locations.


24/150



24

Today, consumers have a variety of ways to send and receive funds or money

transfers. Although using cash to send a money transfer is the most popular

method for most people, more and more people want additional options: tosend and/or receive funds on the internet, over the phone, and now, on their

mobile phones.

Mobile money transfer is simply another way to send money. It is a transfer of

money to a receiver in which the funds are deposited into a mobile or virtual

wallet.

Send and receive funds via a mobile phone:

Western Unions service will offer several variations and is unique in

offering consumers options in how they send or receive funds over the mobile.

Consumers can send funds:

Cash-to-mobile: A consumer initiates a money transfer by submitting cash

at a Western Union Agent location. The funds are sent to a receiver whose

mobile operator offers mobile money transfer in partnership with Western

Union. Funds are deposited into the receivers mobile wallet, or account

tied to the mobile phone.Mobile-to-cash: A consumer whose mobile operator offers mobile money

transfer in partnership with Western Union uses his/her phone to send a

cross-border money transfer. The sender notifies the receiver via SMS or

phone that the funds have been sent and provides the MTCN. The receiver

then picks up the funds at a Western Union Agent location.

Mobile-to-mobile: A consumer whose mobile operator offers mobile

money transfer in partnership with Western Union uses his phone to send a

crossborder money transfer to a receiver whose mobile operator also

offers mobile money transfer in partnership with Western Union. The funds

go directly into the receivers mobile wallet, or account tied to the mobile

phone.


25/150



25


26/150



26


27/150



27
http://corporate.westernunion.com/index.html


28/150



28

Company Type Public

Headquarters

Fiscal Year-End December

2009 Employees 6,800

For more than 150 years, the familiar signs of Western Union have stood

as a trusted symbol for connecting friends, family and businesses around

the world.

Known today as an innovator in financial services, The Western UnionCompany has become an industry leader in global money transfer with

approximately 430,000 Agent locations in 200 countries and territories.

From the roots of our signature telegram business, we expanded and

evolved our services in 1871 to offer electronic money transfer. Today,

Western Union offers money order, money transfer, payment and

prepaid services. While the telegram is a memory, we continue a long

history of connecting people around the corner and around the globe

with financial services that are fast, reliable and convenient.


29/150



29

1851

Western Union was founded in 1851 as the New York and Mississippi

Valley Printing Telegraph Company

1856

The company changed its name to Western Union in 1856 to mark the

consolidation of several telegraph lines in what was then the Western-

most reaches of the American telegraph system

1861

Western Union completed the first transcontinental telegraph line

across North America in 1861

1869

The first successful stock ticker was introduced by Western Union in

1869


30/150



30

1871

Western Union introduced money transfer in 1871

1884

Western Union was one of the original 11 stocks included in the first

Dow Jones Average in 1884

1896

In 1896, Western Union provided service to Europe, Northern Africa,

North and South America, Australia and Asia

1914

In 1914, Western Union introduced the first consumer charge card

1933

In 1933, Western Union delivered the first singing telegra

1943

Western Union pioneered the first commercial inter-city microwave

communications system in 1943


31/150



31

1974

The first commercial satellite in the U.S. was introduced by Western

Union in 1974

1980

In 1980, revenue from the money transfer service exceeded telegram

service revenue for the first time in Western Union history

1993

In 1993, Western Union introduced the first prepaid, disposable

telephone card

2001

Celebrating its 150-year anniversary in 2001, Western Union expanded

to more than 100,000 Agent locations worldwide

2006

In 2006, The Western Union Company handled 147 million consumer-to-

consumer money transfers and 249 million consumer-to-business

transactions


32/150



32

Their mission is to deliver your money in a Fast, Secure and Reliable way

while also providing better value for your money.

To provide faster money transfer in India and throughout the word;

to be recognized as an efficient and excellent organization exceeding

the expectation of the customers, employees and the society; to

perform the task by:

Total devotion to providing efficient & reliable services, which

customers consider to be value for money.

Total recognition of the responsibilities as a part of the social,

industrial and commercial life of the country.

Total dedication to understanding and fulfilling customers needs.

Total commitment to providing challenging and rewarding career for

every employee.

Total enthusiasm to be forward and innovative in all areas.


33/150



33

They do business each day with absolute integrity, honesty and

passion, partnering as a team to meet their consumers' needs.

The values that matter most to their employees shape the core

values of Western Union. They are a part of the fabric of their day-to-

day work experience and demonstrate behaviours that foster a

positive, inclusive and engaging company culture.

Their values define who we are and what we stand for as a company.

Living these values is at the heart of all that they do, and isdemonstrated every day in our interactions with consumers,

colleagues and the global community.

They do business each day with an absolute commitment to ethics,

honesty and credibility. Their employees and Agents foster trust, so

their consumers are confident their transactions are fast and reliable.

Their partnerships with employees, Agents and organizations that

support our business are critical to their success. These partnerships

enable us to better understand our consumers in order to deliver

services that meet or exceed their needs and their shareholders'expectations.

They develop their people through new opportunities and challenges;

we recognize and reward high performers; they embrace diversity

and varied perspectives; and they respect the commitment their

people make to their business, their families and society.

They are passionate about their business, doing the right thing for

their people and proud to enable their consumers to achieve their

dreams. They lead by example in giving back to the communities they

serve and improving their world.

They are one team, working together for one world. They have a

dynamic and inclusive work environment where their people share

the desire to win.


34/150



34


35/150



35

STRENGTH

Western unions do business each day with an absolute commitment to

ethics, honesty and credibility. Their employees and agents foster trust,

so their consumers are confident. Their transactions are fast and

reliable.

The western union company handled 147 million consumer-to-consumer

money transfer and 249 million consumer-to-business transactions.

WEAKNESS

As per the consumer survey we observe that prices charge by westernunion is higher than other money transfer service provider.

OPPORTUNITY

Western union company develop their people through new opportunity

and challenges. They recognize and reward high performers. They

embrace diversity and varied perspective, and their respect. They

commitment their people make to their business, their families andsocieties.

THREATS

One of the most threats is its competitors.

American express company New york

Money gram international Minneapolis

Pay pal inc. San jose


36/150



36

SEND

SENDING MONEY from an Agent Location:

With the Western Union Money Transfer service, you can send money quickly

from over 305,000Western Union AgentLocationsworldwide. Sending money is

convenient and generally all you need to do is:

Visit a Western UnionAgent location.

NOTE: This service may not be available at all locations.

Fill out aTo send moneyform.

Provide payment to the clerk in cash including the amount to be sent andappropriate fee(s). Identification is required.

Western Union agent registers the data on the system. The agent provides

Money Transfer Control Number and a copy of the form.

Give the MTCN to the person picking up the funds for extra convenience
http://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.unionifinanciar.com/dergese.pdfhttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=true


37/150



37

CHECK THE STATUS OF YOUR MONEY TRANSFER:-

To find out if the money you transferred has been picked-up; you can use our

onlineMoney Transfer Trackingservice.

RECEIVE

RECEIVING MONEY at an Agent Location Union:

With over 305,000 Western UnionAgent locationsworldwide, receiving money

quickly is always convenient. Generally all you need to do is:

Visit your nearest Western Union Agent location. Fill out aTo receivemoneyform, and the Money Transfer Control Number.

Fill out on the form the approximate amount you will receive, the Senders

name and the originating country.

Present a valid identification document to the clerk.

In few minutes receive the money. Western Union Agent provides money

and a copy of the money transfer form.
https://wumt.westernunion.com/asp/orderStatus.asp?country=ALhttps://wumt.westernunion.com/asp/orderStatus.asp?country=ALhttps://wumt.westernunion.com/asp/orderStatus.asp?country=ALhttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.unionifinanciar.com/terheqje.pdfhttp://www.westernunion.com/globalPortal.asp?selectRegion=truehttps://wumt.westernunion.com/asp/orderStatus.asp?country=AL


38/150



38

Western Union does so much more than simply send money. Every day they

help people connect with loved ones around the world by offering a fast,

reliable and convenient means of transferring money.

Under its Western Union, Orlandi Valuta and Vigo brands, The Western Union

Company provides consumers fast, reliable and convenient ways to send and

receive money around the world, as well as send payments and purchase

money orders. They operate through a network of approximately 430,000

Agent locations in 200 countries and territories.

Consumer-to-consumer

Connect with loved ones throughout the world by sending your support

through Western Union.

Consumer-to-business

Simplify your everyday life by sending utilities, car loans and mortgage

payments through Western Union.

Business-to-business

Custom House allows you to make international payments, receive foreign

currency and protect your business with currency risk management services.

Other services

Enhance your financial management with money orders, prepaid cards, and

other financial services from Western Union.

Walk-in money transfer service

More than 90 percent of our transactions are still done in person where

consumers receive the attention and expertise of an Agent clerk. The Agent

clerk collects cash from a consumer and within minutes, payment is available

for pick-up at an Agent location convenient to the receiver. In the United

States, many Agent locations also accept debit cards to initiate a transaction.

We are continually developing convenient and customized solutions for

consumers in a variety of regions.


39/150



39

Online money transfer service

Their transactional Web site allows consumers to send funds online using a

credit or debit card. Additionally, consumers can conveniently check the status

of their transfer online.

Telephone money transfer service

Their Telephone Money Transfer service allows consumers to send funds by

telephone without visiting a Western Union Agent location. Consumers may

call a toll-free number in the United States or the United Kingdom and use a

debit card or credit card to initiate a transaction. The money transfer is then

available for pay-out at a participating Agent location.

Mobilemoney transfer service

They are working with mobile phone operators in select countries to introduce

money transfers that consumers can send and receive with a cell phone.

Recently, they announced three mobile operators that will participate in this

initiative expected to extend the benefits of financial services to many of the

world's families for the first time. The first commercial services began in the

second quarter of 2008.

Payoutservices

Receivers can typically pick up available funds within minutes of the sender

completing a transaction. In some countries, funds can be sent for next-day

payout, bank account delivery or loaded to a stored-value card. In a number of

countries in Latin America and the Caribbean, Western Union Agents offer a

bank deposit service, in which the paying Agent provides the receiver the

option to direct funds to a bank account or to a stored-value card. Vigo also

offers Direct to Bank and home delivery service in certain countries.


40/150



40

Western union money transfer

The Western Union Money in Minutes service allows consumers to move

money to 200 countries and territories generally in minutes, and their recipient

can pick it up at one of over 430,000 Agent locations worldwide.

Western union bill payment

The Western Union Quick Collect Bill Payment service helps consumers make

urgent and routine bill payments. With over 5,000 direct biller relationships

across multiple industries, including mortgage, auto finance, credit card,

insurance, and telecom, your customers are covered.

The western union advantage

With Western Union, your financial institution can:

Provide money movement solutions that your customers want and

appreciate.

Product differentiation can help you to add new revenue streams and

improve the competitive position of your financial institution.Team up with a market leader and trusted provider known locally as well

as around the globe.

Enhance current customer relationships.

Integrate these services at your choice of multiple consumer channels

(retail branches, online, call centers).

Other services

Their other services enhance our portfolio and provide consumers andbusinesses with additional convenient financial tools.

Western Union is a trusted source not only for money transfer and bill

payment services, but also for money orders, prepaid cards and other financial

services. Their Agent network offers these other services that allow their

consumers to conveniently manage their finances.


41/150



41

Money orders

Money orders are a reliable payment choice for those who may not have

checking accounts. They can be used for making purchases and paying bills,

and can be deposited directly into bank accounts or cashed at check cashiers,some banks and some retailers. Money orders can be purchased at

participating Agent locations in the United States and Canada.

Prepaid cards and services

The Western Union Prepaid MasterCard card is sold through our Agent

network primarily in the United States and on the Internet. This service allows

consumers to load money or receive a direct deposit from their employer onto

the card for use at a later date. The card can be used to withdraw money froman ATM or shop online anywhere MasterCard debit cards are accepted.

In addition to debit cards, Western Union enables consumers to pre-pay for

mobile phones, Internet access and other services. These top-up services

allow consumers to store value with service providers that can be accessed by

the consumer in the future.


42/150



42

They strive to meet our consumers expectations. They remain competitively

positioned in a fast-growing worldwide market.

At Western Union, leadership takes more than the latest technology to quickly

send money and connect millions worldwide. It takes a team of dedicated

people who understand the evolving needs of consumers, while maintaining

the integrity of our promise to provide convenience, trust and reliability. Our

company leaders continue to build upon our heritage and live our values as we

adapt our business to the needs of the marketplace.

REDUCE

At our corporate headquarters:

We use low-energy light bulbs that are recycled in accordance with EPA

standards and we are in the process of installing motion sensors on office

lighting.

Automatic water saving faucets and toilets has been installed.

We provide indoor and outdoor bike parking, support an annual bike to work

day and have locker room facilities to encourage employees to reduce

greenhouse emissions by biking to work. In 2010 we were recognized by Bike

Denver as a "Bicycle Friendly Business."

We have applied a power-saving policy to hundreds of desktop computers,

which puts such computers on sleep mode when they are not being used

outside regular office hours. We are in the process of adopting this policy

globally.

Company-wide:

We have installed power tracking software on all computers.


43/150



43

Every day, The Western Union Company works with our Agent network of

approximately 435,000 locations to help people all over the world realize their

dreams.Western Union has a history of adapting our business to meet the changing

needs of the people we serve. So as more of our consumers continue moving

to more places around the world, our Agent relationships have never been

more important.

The relationship between a consumer and their Western Union Agent is a

special one. Our Agents' deep understanding of the communities they serve

comes from the fact that they live in these communities themselves. Our

strong Agent relationships are the primary reason our Western Union Gold

Card loyalty program has more than 11 million active cards operating in 2008.And their long tenure with Western Union gives them the knowledge and

insight to create customized solutions on a local basis. We continually look to

implement new strategies that will allow our service, our technology and our

Agents to have an even greater impact in our communities.

Their aim to empower our clients with the tools and knowledge they need to

make informed decisions.

They work with their clients to ensure that we understand their unique

business needs. Whether you require an online payment solution or

personalized support to help guide you through the world of foreign exchange,

their deep industry expertise and distinguished service portfolio enable you to

make international payments and manage currency risk with confidence.


44/150



44

Companies Location

American Express Company New York, NY

Money Gram International, Inc. Minneapolis, MN

PayPal, Inc. San Jose, CA
http://www.hoovers.com/company/American_Express_Company/rffxhi-1-1njg4g.htmlhttp://www.hoovers.com/company/American_Express_Company/rffxhi-1-1njg4g.htmlhttp://www.hoovers.com/company/MoneyGram_International_Inc/rfjtyhi-1-1njg4g.htmlhttp://www.hoovers.com/company/MoneyGram_International_Inc/rfjtyhi-1-1njg4g.htmlhttp://www.hoovers.com/company/PayPal_Inc/jrytri-1-1njg4g.htmlhttp://www.hoovers.com/company/PayPal_Inc/jrytri-1-1njg4g.htmlhttp://www.hoovers.com/company/PayPal_Inc/jrytri-1-1njg4g.htmlhttp://www.hoovers.com/company/MoneyGram_International_Inc/rfjtyhi-1-1njg4g.htmlhttp://www.hoovers.com/company/American_Express_Company/rffxhi-1-1njg4g.html


45/150



45


46/150



46

In the old days, moving money usually meant physical movement of the moneyitself. A person would usually carry the money and travel to where the

recipient is located. Another method is to insert the money in a sealed

envelope and have it delivered by post.

SBI Money Transfer can be done anywhere, even from the comforts of our

own home. SBI has a secure website where we can learn and access all the

services they provide. SBI Money Transfer online transactions are secure. It

will require us to have an authenticated account in which the client who

wishes to avail of the SBI Money Transfer service will be required to login tothe portal.

Getting started with SBI Money Transfer is easy. You just need to perform a

one-time registration which will save you the time and effort of providing

identification for each SBI Money Transfer transaction. A network of credit

facilities across 3000 branches and the capability to send money to an account

with any bank.

SBI Money Transfer service is easy, fast and most of all, safe.

To be a lead niche bank for comprehensively meeting the entire banking

requirements of our customers in a competitive manner with services of

international standards and to act as a bridge between India and Indonesia to

facilitate the bilateral trade and investments.

To provide complete range to banking facilities to their customers backed by

latest technology and high services standards, to help increase their

competitive edge and reach in domestic and international markets. To provide

information, leads and banking facilities to Indian investor as well as our


47/150



47

domestic customers to facilitate profitable exchanges in bilateral trade

and investments.

Instant Transfer

SBI Express Remit

SBI Express

SWIFT / Wire Transfer/TT


48/150



48


49/150



49

Money Gram International offers Financial Services, Money Transfer andMoney Order products and services to consumers through a network ofagents

and financial institution customers. The Travelers Express Company, Inc.,

which has been in operation since 1940, acquired Money Gram Payment

Systems, Inc. in June 1998 from American Express. The business was

incorporated in December 2003 in connection with the 2004 spin-off from its

parent company, Viad Corporation, and is now known as Money Gram

International.

On August 3, 2009 Money Gram International, Inc. signed an agreement with

Affinity Global Services a Dallas, TX provider of wireless payments technology,

to allow for money to be transferred via mobile devices. "In developing

economies, there are more people with mobile phones than traditional bank

accounts. We see a tremendous opportunity to better serve these consumers

by delivering Money Gram remittances in compelling new formats such as

mobile technology," said Anthony Ryan, Money Gram president and CEO

Money Gram is a leading global payment services company. Their mission is to

provide consumers with affordable, reliable and convenient payment services.

They offer their products and services to consumers and businesses through

our network of agents and their financial institution customers. Their businesshas been in operation since 1940. In the last six years, we have added

important new products and services and have expanded their business

domestically and internationally.

They believe that their success across both of their business segments results

from a combination of key assets and competencies, which form the

foundation for their current business and for their future growth. These
http://en.wikipedia.org/wiki/Agent_%28law%29http://en.wikipedia.org/wiki/Agent_%28law%29http://en.wikipedia.org/wiki/Agent_%28law%29http://en.wikipedia.org/wiki/Financial_institutionhttp://en.wikipedia.org/wiki/Financial_institutionhttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/Financial_institutionhttp://en.wikipedia.org/wiki/Agent_%28law%29


50/150



50

competencies include:

Strong value proposition.

Advanced proprietary technology.

Broad consumer recognition and consumer loyaltyExtensive domestic and international retail agent network

Strong relationships with agents and financial institution customers. In

both their operating segments we have long-term contracts agents and

financial institutions.

Transferring Money On-line

EMoney Transfer Same Day Service

EMoney Transfer Economy Service

Transfer Money Overseas

To transfer money from overseas, the following methods are usually

implemented:

Electronic Funds Transfer (EFT)

Wire Transfer

Giro

Email Money Transfer


51/150



51

GOVERNMENT CLIENTS

CORPORATE CLIENTS

ORGANIZATIONS / NON PROFIT


52/150



52


53/150



53

Established in 1841, today Thomas Cook provides services at more than 3,000

locations in more than 100 countries, and employs over 14,000 people who

service some 20 million customers a year. With two core business lines-Travel

Related Services and Financial Services- Thomas Cook is the world's largest

supplier of travelers cheques outside the U.S. and owns the world's largest

network of foreign exchange bureaux.

"They are delighted to add Money Gram International money transfers to

their new branches as it helps them provide a bouquet of services to their

existing customer base and also helps attract new customers," said Mr

Madhavan Menon, Managing Director, TCIL

Thomas Cook (India) operates in the following areas of business, namely:

Leisure Travel, Corporate Travel Management, MICE, Foreign Exchange,

SWIFT Network, Travel Insurance, Credit Cards, Pre-Paid Cards, Life Insurance

and E-Business.

Money Gram International Ltd., which will focus sales efforts on identifying

new agents such as bureau de change, banks and related financial institutions

and retailers in major worldwide locations, is owned 51 percent by Money

Gram Payment Systems Inc. and 49 per cent by Thomas Cook. It will utilize

the Thomas Cook sales force to contact and reach agreements with new

Money Gram agents.


54/150



54

Exceptional Service from Exceptional People.

Taking Personal Responsibility For Achieving the Mission

Pursuing Excellence in Everything they do Displaying Honesty and

Trust in all our Relations with Customers to deliver outstanding

service to them at all times minimizing and respecting the needs

of individual.

The companies currently have an agreement under which Thomas Cook is

an agent for Money Gram money transfer services throughout the Thomas

Cook worldwide retail network.

:

Wire transfer

Bank draft

Internet

Money order


55/150



55

Individual travellers:

Foreign exchange for leisure outbound travellers Foreign Exchange for migration, employment, medical treatment Remittances for students studying abroad, gift remittances etc Encashment services & inward remittances for inbound tourists

visiting India, Non Resident / Resident Indians.

Corporates: Travel money and remittances for business travellers. Onsite support for inbound tour conferences. Film production houses travelling for shoots abroad. Remittances of tour proceeds for tour operators.

Institutions: Bulk purchases and sales of foreign currencies from Banks, Non

Bank Retailers and Money Changers. .


56/150



56


57/150



57

Housing Development Finance Corporation Limited, more popularly known asHDFC Bank Ltd, was established in the year 1994, as a part of the liberalization

of the Indian Banking Industry by Reserve Bank of India (RBI). It was one of the

first banks to receive an 'in principle' approval from RBI, for setting up a bank

in the private sector. The bank was incorporated with the name 'HDFC Bank

Limited', with its registered office in Mumbai. The following year, it started its

operations as a Scheduled Commercial Bank. Today, the bank boasts of as

many as 1412 branches and over 3275 ATMs across India.

Our mission is to be a World Class Indian Bank, benchmarking ourselves

against international standards and best practices in terms of product

offerings, technology, service levels, risk management and audit & compliance.

The objective is to build sound customer franchises across distinct businesses

so as to be a preferred provider of banking services for target retail and

wholesale customer segments, and to achieve a healthy growth in profitability,

consistent with the Banks risk appetite. We are committed to do this while

ensuring the highest levels of ethical standards, professional integrity,

corporate governance and regulatory compliance.

To be a progressive bank with strong brand equity, enhancing value for all

the stake holders through excellence in performance and good governance.


58/150



58

:

India LinkCheque Lock Box Quick RemitTelegraphic Transfer

Travellers Cheques.

Foreign Currency Cash.

Foreign Currency Drafts.

Cheque Deposits.

Remittances.

Cash to Master.

Trade Services.

Forex Services Branch Locator.

Important guidelines and schedules.
http://www.sendmoneyindia.org/http://www.sendmoneyindia.org/


59/150



59


60/150



60


61/150



61

COMPETITORS

WESTERN UNION

ICICI BANK

HDFC BANK

AXIS BANK

UNION BANK

MONEY GRAM

FEDEXSBI BANK

THOMOS COOK

CITI BANK


62/150



62


63/150



63

QUESTIONNAIRE - MONEY TRANSFER SERVICE PROVIDERA STUDY ON CONSUMER BHAVIOUR WITH RESPECT TO WESTERN UNION & OTHER

MONEY TRANSFER SERVICE PROVIDERS

Name of service provider : -...............................................................................................

Name of manager : -..............................................................................................

Address : -........................................................................................

..............................................................................................

Contact No. : ...........................................................................................

Area of operation : ..........

1. Since when you been into this business?

A. < 3yrs C. 5 to 10

B. 3 to 5 D. > 10 yrs

2. How May branches do you have across India?

A. Up to 100 B. Up to 200

C. Up to 500 D. More than 500

3. What are your destinations for delivery?

A. International B. National

C. Both

4. What are the price charges?

A. National B. International

5. Who are your nearest competitors?

A. SBI B. Money gram

C. GE Money D. HDFC

E. Thomas Cook F. Other

6. Which mode of transportation do you prefer for money transfer?

A. Wire transfer B. Bank draft

C. Money order D. Internet


64/150



64

7. Which mode of physical transfer do you use?

A. By road B. By air

C. By Ship D. No answer

8. Which type of securities do you provide?

A. Insurance...............................................................................................................

B. If any other............................................................................................................

9. Minimum transfer amount.

A. 0 to 5000 B. 5000 to 10000

C. 10000 to 15000 D. 15000 & above

10. Who deciding money exchange rate?

A. Forex B. RBI

11. Do you offer any schemes to your customers?

A. Yes B. No

12. How many workers & employees are engaged in your business?

.........................................................................................................................................

.........................................................................................................................................

13. What are the benefits given to the workers & employees?

A. Weekly off B. Overtime Wages

C. Uniform D. Transportation

E. Others

14. What kind of documents for evidence or proof is provided?

A. Receipts B. Passport

C. Text Message D. Other

15. How are the grievances of customers solved?

A. Personal Attention B. Customer Care

C. Refund D. Other

16. Suggestions:

.....................................................................................................................................

..........................................................................................................................................

..................................


65/150



65


66/150



66

A STUDY ON CONSUMER BEHAVIOUR WITH RESPECT TO WESTERN UNION &

OTHER MONEY TRANSFER SERVICE PROVIDER

Name :...........................................................................................................................

Gender : Male Female

Address : .........................................................................................................................

...........................................................................................................................

Contact No. :...........................................................................................................................

1. Income per month.

A. 0 to 5000 B. 5000 to 10000

C. 10000 to 15000 D. 15000 & above 2. Do you transfer money to inside or outside India?

A. Yes B. No

3. How much amount you transfer per annum (average)?

A. 0 to 1000 B. 1000 to 10000

C. 10000 to 20000 D. 20000 & above

E. No answer

4. How much is your average money transfer expenditure in a month?

A. Up to 100 B. 100 200

C. 200 500 D. 500 and more

E. No answer

5. Which money transfer service providing company do you usually prefer for your

purpose?

A. Western Union B. HDFC

C. SBI D. Money Gram

E. Thomas cook E. Others: - _______________


67/150



67

6. Do you prefer western union?

A. Yes B. No

7. If yes. Why? , If no. Why?

.............................................................................................................................................

...................................................................................................................................................

8. Are you satisfied with the service provided by the company which you prefer?

A. Yes B. No

If Yes than give reason

...............................................................................................................................................

....................................

9. What services do you expect from your service provider?

A. Wire transfer B. Money order

C. Bank draft D. Internet

10. Is your money timely delivered?

A. Yes B. No

11. Insurance is provided by the service provider company?

A. Yes B. No

12. by, safety & security, Rate western union

A. Best B. Better

C. Good D. Average

E. Worst

13. What schemes do you expect from the service provider?

.............................................................................................................................................

.............................................................................................................................................

14. Do you use online feedback of the service providers?

A. Yes B. No

15. Suggestions:

..........................................................................................................................


68/150



68
http://www.google.co.in/imgres?imgurl=http://www.artsjournal.com/dewey21c/vision.jpg&imgrefurl=http://www.artsjournal.com/dewey21c/2009/03/obamas-vision-of-education.html&usg=__Q9P80P7l6SC_4RpYWqBmpvVrWTY=&h=480&w=640&sz=66&hl=en&start=10&zoom=1&tbnid=ANZfiNAL385RmM:&tbnh=103&tbnw=137&prev=/images?q=vision&hl=en&sa=G&gbv=2&tbs=isch:1&itbs=1


69/150



69

1. since when you have been into this business?

Up to 3 2/190*100 10%

3 to 5 5/190*100 25%

5 to 10 3/190*100 15%

More than 10 10/190*100 50%

0%

10%

20%

30%

40%

50%

60%

up to 3 3 to 5 5 to 10 more than 10

up to 3

3 to 5

5 to 10

more than 10


70/150



70

INERPRETATION:-

From the survey it is inferred that the money transfer service has beenrepresent and serving the society for up to 3 years which is 2

respondents, out of 20 (sample size) respondents which represents 10%

of the total.

The banks which are engaged in providing money transfer service 3 to 5

which is 5 respondents, out of 20 (sample size) respondents which

represents 25% of the total.

The banks which are engaged in providing money transfer service 5 to 10consist of 3 respondents, out of 20 (sample size) respondents which

represents 15% of the total.

And the banks which are engaged in providing money transfer service

more than 10 which is 3 respondents, out of 20 (sample size)

respondents which represents 50% of the total.


71/150



71

2. How many branches do you have across India?

Up to 100 4/20*100 20%

Up to 200 3/20*100 15%Up to 500 3/20*100 15%

More Than 500 10/20*100 50%

0%

10%

20%

30%

40%

50%

60%

upto 100 upto 200 upto 500 more than 500


72/150



72

INTERPRETATION:

Having the largest network gives a competitive advantage to the banks.

The bank can have a large market share. The banks having more & more

branches across India can gain this competitive advantage.

Most of the banks, which are engaged in providing money transfer

service, have

Up to 100 branches across India, it represents 25% of the total. i.e.

5 respondents, out of 20 (sample size) respondents.

Secondly, there are banks which are having up to 200 branches

across India. It represents 0% of the total. i.e. no respondents, out

of 20 (sample size) respondents.

The banks which are having branches up to 500 across India.

Contributes 0% to the total. i.e. no respondents, out of 20 (sample

size) respondents.

The banks which are having branches more than 500 across India.

Contributes 75% to the total. i.e. 15 respondents, out of 20

(sample size) respondents.


73/150



73

3. What are your destinations for delivery?

INTERNATIONAL 7/20*100 35%

NATIONAL 5/20*100 25%BOTH 8/20*100 40%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

INTERNATIONAL NATIONAL BOTH

INTERNATIONAL

NATIONAL

BOTH


74/150



74

INTERPRETATION:

There are companies which transfer money only to national destination

& there are companies which transfer money only to international

destinations.

There are companies which transfer money to both national &

international destinations. This type of companies can have a varied

customer base & a very large market share.

The money transfer services are provided by the international

destination which represent 35% of the total i.e. 7 respondents

out of 20 (sample size) respondents.The money transfer services are provided by the national

destination which represent 25% of the total i.e. 5 respondents

out of 20 (sample size) respondents.

The money transfer services are provided by both international &

national destination which represent 40% of the total i.e. 8

respondents out of 20 (sample size) respondents.


75/150



75

4. What is the price charge for money transfer?

NATIONAL 10/20*100 50%

INTERNATIONAL 5/20*100 25%NO ANSWER 5/20*100 25%

0%

10%

20%

30%

40%

50%

60%

NATIONAL INTERNATIONAL NO ANSWER

NATIONAL

INTERNATIONAL

NO ANSWER


76/150



76

INTERPRETATION:

Maximum companies providing money transfer services charge a

minimum price of up to Rs. 100/- from their customers. Generally the

companies are providing national and international services to their

customers with minimum charge for money transfer.

The companies are providing National money transfer service

charge, which represent 50% of the total i.e. 10 respondents out

of 20 (sample size) respondents.

The companies are providing International money transfer service

charge, which represent 25% of the total i.e. 5 respondents out of20 (sample size) respondents.


77/150



77

5. Who are the nearest competitors?

SBI 7/20*100 28%

MONEY GRAM 6/20*100 24%GE MONEY 2/20*100 8%

FEDEX 0/20*100 0%

THOMAS COOK 7/20*100 28%

OTHERS 3/20*100 12%

0%

5%

10%

15%

20%

25%

30%

SBI MONEY GRAM GE MONEY FEDEX THOMOS COOK OTHERS


78/150



78

INTERPRETATION:-

There is a cut threat competition among the service providers from the

survey we can conclude that 28% of respectively i.e. 7 respectively out of

20 (sample size) respectively feel that SBI is their nearest competitors.

After money gram most of the respective feel that SBI is their nearest

competitors which represents 24% of the total .i.e. 6 respectively out of

20 (sample size) responds.

After GE money most of the respective feel that SBI is their nearest

competitors which represent 8% of the total .i.e. 2 respectively out of 20

(sample size) responds.

Today in a competitive area if a well established player does not take

appropriate steps to maintain its market share than the local players

would take up that part.

Some is the case here; the other competitors represent 12% of the total

.i.e. 3 represent out of 20(sample size) responds.

The other local player in the market are the following:

SBI

MONEY GRAMGE MONEY

FEDEX

THOMAS COOK

BANK OF BARODA

HDFC

After other local player in the market, most of the respectively feel that FedEx

is their nearest competitor which represents 0% of the total i.e. 0 respectiveout of 20 (sample size) respectively.

After FedEx most of the respective see that Thomas cook which represents

28% OF their i.e.7 respectively out of 20(sample size)) respectively.


79/150



79

6. Which mode of transportation do you prefer for money transfer?

Wire transfer 8/20*100 33.33%

Bank draft 3/20*100 12.5%

Money order 0/20*100 0%

Internet 13/20*100 54.17%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

WIRE TRANSFER BANK DRAFT MONEY ORDER INTERNET

WIRE

TRANSFE

R

BANK

DRAFT

MONEY

ORDER

INTERNET


80/150



80

INTERPRETATION:-

The mode of transportation becomes an important part of the money

transfer service as it is the main expenditure to be incurred by the

money transfer service in this field.

Most of the service providers preferred mode of money transfer is by

INTERNET which is 54.17% i.e.13 respondents out of20 respondents.

The second most preferred mode of money transfer is by WIRE

TRANSFER which represents 33.33%of the total i.e. 8 respondents out of

20 respondents.

BANK DRAFT represents 12.5% of the total i.e. 3 respondents out of20

respondents.

MONEY ORDER is used simultaneously represents 0% of total i.e. no

respondents out of20 (sample size) respondents.ss


81/150



81

7. Which mode of physical transfer do you use?

By road 7/20*100 38%

By air 11/20*100 55%By ship 0/20*100 4%

No answer 2/20*100 3%

0%

10%

20%

30%

40%

50%

60%

BY ROAD BY AIR BY SHIP NO ANSWER


82/150



82

INTERPRETATION:-

The mode of transportation becomes an important part of the moneytransfer service as it is the main expenditure to be incurred by the

money transfer service in this field.

For domestic service providers the preferred mode of transportation is

by AIR which is 55% i.e.11 respondents out of 20respondents.

The second most preferred mode of transportation is by ROAD which

represents 38%of the total i.e. 7 respondents out of 20 respondents.

Water ways represents 4% of the total i.e. no respondents out of 20

respondents. Water ways is the least preferred mode of transportation.

Other modes of transportation used simultaneously represents 3% of

total i.e. 2 respondents out of 20 (sample size) respondents.


83/150



83

8. Which type of securities do you provide?

Insurance 8/20*100 40%

If any other 2/20*100 10%No answer 10/20*100 50%

0%

10%

20%

30%

40%

50%

60%

insurance if any other no answer


84/150



84

INTERPRETATION:

Insurance means the promise to pay a sum of money as

compensation in event of loss.

From the above data very fewer respondents provide insurance to

their customers which represent 40%of the total. i.e. 8


From the above data less respondents provide any other securities

to their customers which represent 20% of the total. i.e. 2


From the above data we observe that so many respondents notprovide any type of securities to their customers which represent

50% of total. i.e. 10 respondents out of 20 (sample size)

respondents.


85/150



85

9. Minimum transfer amount.

0 to 5000 11/20*100 55%5000 to 10000 0/20*100 0%

10000 to 15000 1/20*100 5%

15000 & above 7/20*100 35%

No answer 1/20*100 5%

0%

10%

20%

30%

40%

50%

60%

0 to 5000 5000 to 10000 10000 to 15000 15000 & above no answer

percentage

Column1

Column2


86/150



86

INTERPRETATION:

Most of the respondents transfer 0 to 5000 rs. Minimum which

contributes to 55% of the total. i.e. 11 respondents out of 20


There so many respondents who transfer 5000 T0 10000 rs.

Minimum which represent to O% of the total. i.e. 0 respondents

out of 0 (sample size) respondents.

There is very fewer respondents transfer 10000 TO 15000 rs.

Minimum which shows 0% of the total? i.e. 0 respondents out of

20 (sample size) respondents.There are very fewer respondents transfer 15000 & above rs.

Minimum this shows 5% of the total. i.e. 1 respondent out of 20



87/150



87

10. Who deciding money exchange rate?

Forex 11/20*100 55%RBI 7/20*100 35%

No applicable 2/20*100 10%

0%

10%

20%

30%

40%

50%

60%

forex RBI no applicable

percentage

Column2

Column1


88/150



88

INTERPRETATION:-

In the market all the money transfer service providers follow the

money exchange rate.

From the above data we observe the all most respondents follow

the forex money exchange rate which represent 57.14 % of the

total. i.e. 12 respondents out of 20 (sample size) respondents.

From the above data we observe that the very few respondents

follow RBI money exchange rate which shows 33.33% of the total.

i.e. 7 respondents out of 20 (sample size) respondents.


89/150



89

11. Do you offer any schemes to your customers?

Yes 13/20*100 65%

No 6/20*100 30%

No Answer 1/20*100 5%

65%

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

Yes NO NO Answer

Column1

Precentage(%)

Number


90/150



90

INTERPRETATION:-

Todays attraction to customer are offer and schemes, but from the trend seem in the

survey data, we can say that 30% of the total companies i.e.6 respondents

out of 20 respondent dont provide any scheme and offers.

The companies which provide scheme and offers companies of only 65% of

the total companies i.e. 13 respondents out of 20 respondents.

Generally the type of scheme and offer are as under

Yearly discount to customers.

Lower charges from regular customers.

Gift are given during festivals.

Generally, most of the companies give offer & schemes during festivals

like Diwali, Rakshabandhan, New Year, Christmas and list goes on.


91/150



91

12. How many workers & employees are engaged in your business?

Workers &employees NUMBER PERECENTAGE (%)< 5 3/20*100 15%

6 TO 10 6/20*100 30%

11 TO 20 5/20*100 28%

20 & ABOVE 3/20*100 15%

NO ANSWER 3/20*100 15%

0%

5%

10%

15%

20%

25%

30%

35%

Less than 5 6to10 11to20 20 above No answer

Less than 5

6to10

11to20

20 above

No answer


92/150



92

INTERPRETATION:-

The company which has a large work force can provide good customer

service and on time delivery of the money. On the negative side the

company has to pay a large amount of salary to them with all the

benefits.

Most of the companies engaged in providing money transfer service

have a work force of above 20 employees in one branch of the company.

This represents 15% of the total i.e. 3 respondents out of 20 (samplesize) respondents.

In second position there are companies who are having a work force of

between Workers,6 to 10 which contribute 30% of total i.e. 6


The third positions there are companies who are having a work force of

t.y. project

Documents