Article doesn’t say much. Just some daydreaming on how successful a successful company could be.
What does a post office offer that a traditional bank does not? Banking can be done online now, you hardly need to go in. I’m not sure how a post office can step in.
It also doesn’t mention how many billions it will take to start up a bank and what the costs will be.
Also doesn’t mention any marginal gain. If a post bank holds $60b in deposits, that $60b will be taken from the other banks, it’s not new, so what’s the benefit?
tysonfromcanada on
The article, which reads suspiciously like AI regurgitation, ignores the presence of credit unions but doesn’t propose any advantage post would have aside from not being a big, bad charter bank.
I think this idea is dead in the water, personally.
[deleted] on
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StickmansamV on
The main advantage to postal banking is having potentially broader spread of physical locations, particulary in rural areas. I see the main advantage as saving a few days for the few things that are still commonly physical. So bank drafts, certified cheques, large cash payments, and the like. But the market there is likely not significant enough to help Canada Post financially.
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Article doesn’t say much. Just some daydreaming on how successful a successful company could be.
What does a post office offer that a traditional bank does not? Banking can be done online now, you hardly need to go in. I’m not sure how a post office can step in.
It also doesn’t mention how many billions it will take to start up a bank and what the costs will be.
Also doesn’t mention any marginal gain. If a post bank holds $60b in deposits, that $60b will be taken from the other banks, it’s not new, so what’s the benefit?
The article, which reads suspiciously like AI regurgitation, ignores the presence of credit unions but doesn’t propose any advantage post would have aside from not being a big, bad charter bank.
I think this idea is dead in the water, personally.
[removed]
The main advantage to postal banking is having potentially broader spread of physical locations, particulary in rural areas. I see the main advantage as saving a few days for the few things that are still commonly physical. So bank drafts, certified cheques, large cash payments, and the like. But the market there is likely not significant enough to help Canada Post financially.