Cyprus Post to open Sundays for MoneyGram service

Cyprus Post is entering the highly competitive business of money transfers by becoming a Master Agent for MoneyGram in Cyprus, a commercial venture that will significantly improve its earnings.
The state postal service, that has been one of the few government departments to brace for changes by adopting new products and services, will allow customers to send or receive cash from all its 50 locations.
In addition, some district post offices already operate in afternoons and Saturdays, while Cyprus Post is also planning to open five locations for MoneyGram services on Sundays as well, that will become very popular among its primary customers of students and foreign workers.
Deputy Director Pavlos Pavlides told the Financial Mirror that the new service is part of Cyprus Post’s strategic plans that include commercial ventures to supplement the loss of revenue from the gradual decline in traditional postal services.
Already, the express-parcel Datapost service is very competitively priced, often costing half or less of what other operators charge.
“We have discussed the new services and other plans with the postal workers and the trade unions and we are in agreement,” Pavlides explained, responding to concerns that Cyprus Post is a government service and operates according to rigid timetables.
“Staff who want to, already work on afternoons and Saturdays. Naturally, they will receive relevant compensation for Sundays as well,” he said.
Pavlides said that Cyprus Post has a number of international obligations such as Datapost and postal cheques, that will continue to be provided, maybe even enhanced. It has already introduced novel services, such as the Personalised Stamp, whereby customers can order sheets of stamps with a photograph of their choice appearing on a selection of backgrounds.
MoneyGram International already operates in Cyprus through its other Master Agent, Ellinas Finance, that has employed sub-agents in all towns, including independent operators as well as the existing branch network of Piraeus Bank.
To send up to 1,500 euros to India, Nepal, Pakistan or Bangladesh, the MoneyGrame fee is just 8.50 euros, while for Sri Lanka it is 7.90 euros.
In addition, when sending money from Cyprus to the Philippines, MoneyGram can deliver direct to the home of the recipient or via an ATM card.