Sun Jul 30, 2017, 07:28 AM
Le Gaucher (1,547 posts)
Japanese post offices provides banking service. Why cant we do it as well?
Most customers need just basic banking services.. Deposit and withdraw cash.
Post offices exist everywhere .. And can easily add retail banking service with little overhead.
Post offices can invest the money in long term treasury bonds.
Food stamps / Unemployment insurance etc now use bank issued debit cards ..This can be replaced with postal debit card.
NJ uses bank of America debit cards..( yeah fuck the banks.. We dont need the bastards to profit from unemployment)
It all makes so much sense..but I guess it threatens easy profits..
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Author |
Time |
Post |
 Japanese post offices provides banking service. Why cant we do it as well? (Original post) |
Le Gaucher |
Jul 2017 |
OP |
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Vinca |
Jul 2017 |
#1 |
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DFW |
Jul 2017 |
#4 |
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Ezior |
Jul 2017 |
#5 |
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DFW |
Jul 2017 |
#7 |
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TreasonousBastard |
Jul 2017 |
#2 |
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FBaggins |
Jul 2017 |
#6 |
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Not Ruth |
Jul 2017 |
#3 |
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drray23 |
Jul 2017 |
#8 |
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procon |
Jul 2017 |
#9 |
Response to DFW (Reply #4)
Sun Jul 30, 2017, 08:17 AM
Ezior (505 posts)
5. Though Deutsche Post is not a government agency, it's a private corporation
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And, strangely, Postbank is no longer owned by Deutsche Post. So when there are Postbank employees at a post office, this is just a cooperation between two independent private corporations who share only the "Post" part of their names.
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Response to Ezior (Reply #5)
Sun Jul 30, 2017, 09:21 AM
DFW (50,517 posts)
7. The were separated on paper, but the physical presence of the Postbank remained where it was
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The USPS is still a government agency, but it's structure is similar to that of a private corporation. At this point, I doubt Congress would approve its going into the retail banking business, seeing as how they want to privatize just about everything else the government does.
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Response to Le Gaucher (Original post)
Sun Jul 30, 2017, 07:39 AM
TreasonousBastard (42,076 posts)
2. We used to have Postal Savings, but back in the 60s bank branches became...
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more common and started giving better interest rates, so the program was cancelled.
Don't kid yourself about it being so easy. Offering deposit accounts means deposit insurance, added security for the expected debit cards and moving cash around, and other expenses banks are already set up for.
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Response to Le Gaucher (Original post)
Sun Jul 30, 2017, 09:46 AM
procon (15,805 posts)
9. Republicans have been trying to privatize the PO for years by eliminating
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services and tying up their funding in unnecessary spending schemes. While it makes perfect sense for the PO to offer basic banking services, and most other Federal services as well, the Republicans will never allow them to achieve success. They will break up the postal services and auction them off to corporate giants to compete with other shipping and delivery companies.
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