Correos offers solution to communities with no bank
SPAIN’S post office is offering a ‘hole in the wall’ to rural towns left without banks helping communities combat ‘financial exclusion’.
Correos is about to complete a project to install ATMs in 109 municipalities left without a bank or about to lose banking services and has identified another 20 municipalities of between 500 and 3,000 residents across the country that would benefit.
In collaboration with central government, the publicly-owned port office will install a cash machine in communities where it enjoys an office but there are no banks; offering people access to cash.
It is part of the central Correos strategy, to “bring its services closer to people and offer them new services that facilitate their day-to-day activities”.
Taking advantage of its network of post offices, Correos said it was aiding economic development and fighting against “financial exclusion in rural areas of Spain”.