OREANDA-NEWS. November 26, 2007. Since the middle of December 2007 citizens of the Russian Federation and France can exchange electronic money orders, reported the press-centre of Russian Post.

Agreement concerned was signed by FSUE Russian Post Acting Deputy General Director Andrey Konoval and the President of Postal Bank of France (La Poste department) Philippe Bouget. The event was held within the framework of 12th Session of Bilateral Commission on Cooperation between Russia and France at the Cabinet Ministers level. Prime-Ministers of France and Russia Francois Fillon and Viktor Zubkov respectively attended at the agreement signing. They started negotiating a wide range of economic relations between two countries in Paris.

In accordance with the agreement citizens of Russia and France can send mails by post offices though the International Finance System and Secured Transfer of Electronic Financial Information (STEFI) of Universal Postal Union. Money order will be delivered within 2 days. Maximal order sum can be sent is 1,5 thousand euro. Money orders in Russian Federation will be received and paid in Russian rubles, in France in euro term. Receiving or delivering mails from/to France Russian Post converts sum in Russian rubles dated on the exchange rate. It is set by the serving bank of FSUE Russian Post of mail delivering/receiving date. Individuals only can exchange money orders. In France all post offices grant the service, in Russia in all post offices except for remote ones in rural settlements.

Tariff rates for the services will amount from 2 to 5% depending of the sum of order that corresponds the existing tariff rates for international money orders.

Presently Russian Post is the most serious player in money order market within Russia. Annually it delivers 190 mln postal orders to any parts of the country at the highest level. France is the second far-abroad country and the first European one Russian Post grants the service of money orders. This summer the enterprise has already signed the agreement with China on granting the same services. Enlargement of geography of the service on money orders will increase Russian Post’s share in the market of international money orders and improve technological development of post.