The New School Year Boosts Volumes of Money Orders

Oct 31, 2013

According to Lithuania Post’s estimations, with the new school year the number of money orders sent within Lithuania has increased by 14%, and the volumes of money orders sent abroad increased by 22%, if compared with summer season. A possible reason for this might be money flows sent by parents to their children studying in Lithuania and other countries.

“The money order is one of the most convenient ways to transmit money to a child studying in another city or country. The main advantage is that neither the sender nor the receiver must have an account with a bank. Everything you need is the recipient’s name and surname, and the money order can be sent from any post office out of more than 600 or any PayPost outlet out of 110,” Head of Financial Services Department of Lithuania Post Neringa Knyvienė said.

The money order service is similar to the money transfer service provided at banks: the payer pays money at a post office or PayPost outlet, and in the course of several minutes the payee can collect the order.

According to Ms Knyvienė, there was a case when a customer from Pasvalys district had used the money order service to transmit money to her daughter who was shopping in a shopping centre in the capital.

For the convenience of customers, the money order can be delivered to the payee in person at his or her living address. This is especially convenient to senior customers and the handicap that have difficulties with arriving at the post office or PayPost outlet to collect the money order.

The amount sent within Lithuania is approximately 230 litas, and about 800 litas are sent to payees abroad.

The Public Limited Company Lietuvos paštas runs the widest network of points giving access to postal and financial services. At present, more than 720 post offices and 110 PayPost outlets rendering financial services are open to the public.