💸 How to Start Money Transfer and Deposit Services – Step by Step Guide in Simple Language

In today’s time, money transfer services have become very popular in villages, towns, and small cities. People working in cities often need to send money to their families in rural areas. This creates a big demand for domestic money transfer (DMT) and deposit services.

If you are planning to start this as a business or want to add it to your Jan Seva Kendra / CSC / Shop, this blog will explain the entire process in simple words.

---

📌 What is a Money Transfer and Deposit Service?

It is a service where people can send money to any bank account (mostly within India), using Aadhaar, debit card, UPI, or cash. The customer gives you money in cash, and you help them transfer it to their desired bank account using an online portal or mobile app.

You can also offer cash deposit services in customer’s bank accounts.

---

✅ Benefits of Offering Money Transfer & Deposit Service

• Earn commission on every transaction

• Daily income opportunity

• Increase footfall to your shop or Jan Seva Kendra

• Easy to start with minimal investment

• High demand in rural and semi-urban areas

• No need to be a bank employee

---

🧾 Documents Required to Start the Service

To start a money transfer and deposit service, you will need:

1. Aadhaar Card

2. PAN Card

3. Passport-size photo

4. Mobile number

5. Bank account details

6. Email ID

7. Shop proof (if available)

---

🏪 Where Can You Start This Service?

You can start money transfer services at:

• Jan Seva Kendra

• Common Service Center (CSC)

• Grocery store or mobile shop

• Stationery or cyber cafe

• Any retail shop in rural or urban area

---

🔧 How to Start Step-by-Step

Step 1: Choose a Money Transfer Provider (Aggregator)

There are many companies or service providers that give you a portal or app to provide this service. These are called Money Transfer Aggregators.

Some popular companies include:

• PayNearby

• Spice Money

• RapiPay

• Fino Payment Bank

• Ezeepay

• NSDL / CSC

• Bank Mitra service providers

You can register with any of them.

---

Step 2: Register Yourself as a Retailer or Agent

Go to the official website of the provider (e.g., www.paynearby.in, www.spicemoney.com). Click on “Join as Retailer” or “Agent Registration”.

Fill in your details:

• Name

• Mobile number

• Aadhaar and PAN

• Shop location and address

They may also ask you to upload your documents and take a live photo/selfie for verification.

---

Step 3: Complete KYC and Activation

Once you submit your documents:

• Your KYC (Know Your Customer) will be done

• You’ll get login credentials for the portal/app

• Your service will be activated in 24–48 hours

• You’ll receive a Retailer ID or Agent ID

---

Step 4: Add Balance (Wallet Recharge)

To do money transfer, you’ll need to add money (called Retailer Wallet) in your portal.

You can recharge your wallet using:

• UPI

• Net banking

• Bank deposit

This is the money that you use to send money on behalf of your customers.

---

Step 5: Start Doing Transactions

Once activated:

1. Open the money transfer portal or app

2. Enter customer details (name, mobile, receiver bank account)

3. Take cash from the customer

4. Enter the amount and send

5. Share the receipt or SMS confirmation with the customer

✅ You’ll get instant commission after each successful transaction.

---

💰 How Much Commission Will You Earn?

Commission varies by provider, but on average:

Transaction Amount	Commission
₹100 to ₹500	₹1–2
₹501 to ₹1000	₹3–5
₹1001 to ₹3000	₹8–15
₹3001 to ₹5000	₹15–25
₹5001+	₹25+

Some providers also give monthly bonuses for more transactions.

---

🛠 Extra Services You Can Offer Together

Once you register with a money transfer provider, you can also offer:

• AEPS (Aadhaar ATM)

• Mini ATM withdrawal

• Mobile & DTH Recharge

• Electricity and Gas Bill Payment

• PAN Card Services

• Insurance, Loan, and EMI Payment

This will increase your income and attract more customers.

---

⚠️ Things to Keep in Mind

• Always give receipt or SMS confirmation to customers

• Keep enough wallet balance for daily needs

• Do not share your agent ID and password with anyone

• Maintain records of transactions in a register or digitally

• Avoid fake or suspicious transactions

---

📞 Where to Get Support

If you face any issue, your service provider will give you:

• Retailer helpline number

• WhatsApp support

• Email support

• Training videos

Most portals also have live dashboards to track earnings, transactions, wallet balance, etc.

---

🏁 Final Words

Starting a money transfer and deposit service is one of the easiest ways to earn daily income in small towns and villages. With rising digital payments and banking needs, more people are looking for trusted agents who can help them send money.

You don’t need a lot of investment — just a smartphone, internet, and a small place to operate. You can also expand into other digital services later.

---

Want help choosing the best DMT provider or making a comparison?
Let me know — I can guide you or even help you register step-by-step.

Would you like this guide in Hindi, or turned into an Instagram post? Just ask!