Postmen also deliver cash in rural areas
Postmen and postwomen are fundamental figures in village life. Not only do they deliver the mail, but they are also the communication channel for the sometimes dispersed community, they act as health agents for the elderly, and now they will also be the bank branch.
The banking associations (AEB, ECA and UNACC) and Correos (the Spanish postal service) signed an agreement this summer to facilitate cash withdrawals and improve access to basic financial services in rural areas throughout Spain.
Correos opens up its "Correos Cash" (Post Office Cash) service to all financial institutions. This service enables cash withdrawals and deposits to be made at 4,675 customer service points, including branches and rural services, further supported by the work of more than 6,000 rural postmen and postwomen. These postal workers, upon request, will be able to distribute cash to people’s homes, without the customer needing technological means or know-how. Each bank will agree with Correos on the services they can provide.
This initiative by Correos and the banking associations is a response to the growing concern about the risks of financial exclusion in rural areas. The main objective is to ensure that all citizens, regardless of their place of residence, have access to cash with as little travel as possible.
The banking associations thus undertake not to leave any social group unattended and to move towards an inclusive economy. This was set out in the Strategic Protocol they signed with the government to strengthen banks’ social and sustainable commitment, which was updated in February 2022. Correos, in turn, emphasises its vocation to bring its services closer to the public and to consolidate itself in rural areas as a useful instrument to contribute to economic development, the fight against depopulation and the promotion of financial inclusion.
For more detailed information on this new collaboration agreement, please consult the statements by the banking associations and Correos on this matter, which are available at the following links: https://www.correos.com/sala-prensa/correos-y-la-banca-colaboraran-para-mejorar-el-acceso-a-dinero-efectivo-en-el-mundo-rural/ and https://s2.aebanca.es/wp-content/uploads/2022/07/la-banca-y-correos-colaborarn-para-mejorar-el-acceso-al-efectivo-en-el-mundo-rural.pdf.