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UK post offices have been offering banking services for decades, in the form of savings accounts, current accounts and access to financial services. It has eve
by rm445 12y ago
UK post offices have been offering banking services for decades, in the form of savings accounts, current accounts and access to financial services. It has even entered the argot, with people likely to refer to the concept of cash savings as 'having a few quid in the post office'.
Please note that it hasn't saved the world, or even prevented post offices from closing. But it does provide widespread access to banking, both for people who might otherwise be un-banked and elderly people who might have trouble travelling to the nearest branch of a high-street bank.
It would seem to run against the grain for the USA, stepping in to an industry that already has strong private services and competition. As a way to provide a social good it seems to work reasonably, but isn't the Internet going to leapfrog the need for most in-person financial services anyway?