Postal Banking

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4 Terms

1
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Postal banking - what is it?

Carrying out banking by post, such as sending cheques or using Post Office services.

2
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Postal banking - why is it important?

It gives access to banking for people in rural areas or without internet or branch access.

3
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Postal banking - advantages

Useful if you can't get to a branch, and needs no internet.

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Postal banking - disadvantages

Slow, with a risk of post being lost or stolen, and no instant confirmation.