Management of international money transfer: State and perspective of Post of Serbia

For each country, and especially for developing countries, the influx of monetary remittances from the diaspora is of utmost importance, as a source of additional financial resources. Institutional creation of conditions in developing countries allows a controlled inflow of regular financial funds from abroad. Apart from the necessary safety and technological conditions, the transfer time of the money is certainly influenced by the transfer time and the total price of the complete service. The paper presents an analysis of the transfer time and the price of transferring money from France, Bosnia and Herzegovina - the Republic of Srpska and Montenegro. The selected countries are comparable with the Post of Serbia because their postal administrations also provide money transfer through an international postal order. The transfer price and deadlines were analyzed in relation to other specialized money transfer funds (Western Union, RIA, Money Gram) and it was concluded that the Post of Serbia with its service, an international postal order, has all the necessary conditions for organizing a competitive international money transfer service , and in the following period it is necessary, because of the significance of the service it has for the Serbian diaspora, to extend it to all other countries that have a significant number of inhabitants originating from the territory of Serbia. The paper also presents the analysis of the number of international postal orders in the field of Regional Working Unit 'Jagodina, Krusevac, Kragujevac' of the Post of Serbia from which it can be seen that the need for this service is growing