Can you give me an example of one community in the entire US with a postal service but not a bank?
Not to mention neobanks. All you need is a $100 smartphone for that.
Not to mention neobanks. All you need is a $100 smartphone for that.
“According to a 2019 report by the Federal Reserve, 22% of American adults, or 63 million, are either “unbanked” or “underbanked,” meaning they don’t have easy access to a financial institution to do things like cash checks or save money.”
“At the same time, millions of people who live in “bank deserts” are in need of banking access. Post offices seem like an apt solution: 59% of them are in zip codes that have no banks at all.”
And smartphones as a requirement for neobanks or online only banks is an equity issue. Not everyone can afford a smartphone, even one as inexpensive as $100. A debit card can be issued for a few dollars, and postal workers are already working the retail counter.
I don't think that means dont have access so banks. I live in an area 10 miles away from the nearest bank or office and I'm in a suburb.
...and the time and sophistication to know about "neobanks," choose one, and sign up.
> Chime has 13.1 million accounts.
That kind of proves my point. There are more than 300 million people in the US, and they've only reached 4%. Hardly the kind of thing that will solve the problem for less sophisticated people.
Also, the problem of unbanked/underbanked people exists despite them, so that's another clue that they're not the solution.
Gold Bar, WA
Skykomish, WA
At least from Apple Maps, they’ve all got a USPS but no bank.