UzPost: How to transfer cash receipts to an account through a post office?

**UzPost: New opportunity to transfer cash receipts to an account through a post office**

For small and medium-sized businesses (shops, pharmacies, etc.), depositing daily cash receipts into a bank account often requires leaving the workplace and going to the bank. This creates additional burdens for entrepreneurs, such as travel time, waiting in line, loss of time, and ensuring the safety of cash, which often takes up half of the working day.

UzPost has launched a new service to solve this problem: now entrepreneurs can transfer daily sales receipts to the nearest post office, and the funds will be automatically transferred to their bank account.

This project, developed by the national postal operator UzPost, is aimed at supplementing traditional financial services in regions with insufficient banking infrastructure. UzPost’s extensive network, including remote settlements, serves as a ready-made financial and payment platform for entrepreneurs. As part of the project, UzPost is responsible for providing post office infrastructure, accepting cash, and servicing entrepreneurs. The main goal of the service is to enable business representatives, especially in areas with few nearby bank branches and ATMs, to transfer sales proceeds safely and conveniently near their workplaces.

“Today, “Uzbekistan Post” JSC (UzPost) is not only a national postal operator, but also a payment organization, accepting various daily payments from the population, providing agency banking services and other financial services. In order to create convenience for small and medium-sized business entrepreneurs, UzPost, in cooperation with “Davr Bank” JSCB, has launched a daily cash collection service for entrepreneurs. The collection process through UzPost branches takes a few minutes. In the future, we aim to develop this system as a single and popular financial model for other banks,” says Rustam Dadamuhamedov, Finance Director of UzPost.

At the initial stage of the project, “Davr Bank” JSCB will provide the banking part of the service and will be responsible for maintaining customer accounts, processing transactions, bank control and transferring funds. Such a division of tasks ensures the transparency of the system. While UzPost is engaged in cash receipts and direct customer service, the bank carries out operations within the framework of a regulated financial system. As a result, the entrepreneur will be able to carry out all financial operations through the nearest national post office where he conducts his business, without visiting the bank.

**The procedure for transferring cash sales proceeds to a bank account:**

For example, instead of taking daily receipts to a bank in a neighboring city, small and medium-sized businesses in the district center (shop, pharmacy, etc.) can transfer their daily receipts to the post office near their workplace in a few minutes, and these funds will be credited to the account in accordance with bank procedures.

The technological basis of the service is the solutions of the Finnova vendor developed in collaboration with the company's specialists, the service fee and commission payments are determined based on the official tariffs of the bank's product.

Since the service is carried out within the banking system, each operation undergoes mandatory identification; in which legal entities and individual entrepreneurs are checked by TIN (INN) and account number. All operations are recorded in digital format in electronic registers, which allows for mutual comparison and control of these cases. The movement of funds is completely transparent, and each stage is confirmed by digital data.

“Davr Bank, together with the post office of “Uzbekistan 1” JSC, is bringing integration services closer to entrepreneurs. Now cash sales proceeds can be transferred through any post office - conveniently, safely and without unnecessary visits to the bank branch. The operation is transferred to the account in the Davr Bank banking system,” said a representative of Davr Bank.

The service is implemented in all contact points of the UzPost network throughout the country and allows entrepreneurs to transfer sales proceeds to the nearest branch, regardless of their region. Terms of service and contact information for applications are published on the official resources of UzPost and Davr Bank.

UzPost sees this project as a single service model with the possibility of connecting other bank partners and new financial products in the future, as well as an important stage in the development of popular financial services. UzPost plans to further improve this service based on the feedback of entrepreneurs. For small and medium-sized businesses, this will serve as an additional factor that complements traditional bank cash desks, brings financial services closer to the regions, and strengthens confidence in working with cash receipts through the postal network.

UzPost (“Uzbekiston Pochtasi” JSC) provides a wide range of financial and banking services to the population in all regions of the country. This is done through the centralized “AVVAL” payment system and mutual integration with the systems of commercial banks. UzPost financial services combine traditional postal, banking, and some agency services of state and commercial structures. Their main feature is to provide access to basic financial instruments in remote and hard-to-reach areas of the country.

The following financial services are provided by UzPost:

* All payments are made by operators at branch cash desks, as well as by postal couriers on site using smart mobile devices.

* Payment is made by accepting cash, as well as by UZCARD and HUMO national bank cards.

Contact the project coordinator: (+998) 90-912-00-23.

Based on advertising rights.