Should the Post Office Offer Financial Services?
by YES! Magazine on Aug 14, 2014 | Views: 322 | Score: 0
| Percent of those who already use this nonbank service who would be very or somewhat likely to use the Post Office to do it, if offered at a lower price | |
|---|---|
| Prepaid cards | 59 |
| Payday loans | 71 |
| Bill-pay | 79 |
| Check cashing | 81 |
%
Sources:
pewtrusts.org, yesmagazine.org
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Thirty-eight percent of Americans—88 million people—either have no bank accounts (the “unbanked”) or are at least partially dependent upon high-cost services like payday lending (the “underbanked”). These households pay dearly for basics, with underbanked families spending about as much on financial services as food. Learn how the Post Office could make banking and other services affordable and accessible: bit.ly/1qXh0ar