Correos promotes its services to achieve financial inclusion for the elderly ...

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The company has just added functionalities to its Correos Prepaid Mastercard Card that now allows you to carry out the basic operations of a bank account

With the incorporation of the IBAN service on the card it is possible to collect payroll or pension, pay bills or make national and international transfers, among other operations.

Financial product, easy and safe to use, that can help the financial inclusion of older people, residents of rural environments and other groups with problems accessing banking services

It can be purchased at any of the 2,370 Post Office offices and through the Correos Prepaid website and app.

According to various reports, since 2008, nearly 25,000 bank Special Data offices have closed in Spain, which has meant that there are currently 20% of municipalities without the possibility of having banking services in person. Furthermore, digitalization and new technologies have left a large sector of the population, over 65 years of age, at risk of financial exclusion.

Against this backdrop, companies like Correos are working to promote their services, including financial ones, to reverse the situation. With a network of offices of around 2,400 spread throughout Spain, the company began a diversification process a few years ago to provide much more than postal and parcel services to all parts of the national territory. Thus, it has signed agreements with financial entities so that its offices offer citizens the possibility of paying bills, withdrawing cash or carrying out procedures with the Administration.

Correos helps so that the closure of bank offices does not represent a new setback for rural Spain
By Virginia López
Wednesday, August 18, 2021



Now, it is expanding the service of its successful Correos Prepaid Mastercard Card , which, as a novelty, allows you to have an associated IBAN number , making it possible to carry out the basic operations of a bank account, whether collecting payroll or pension, paying bills. supplies and taxes or make national or international transfers , both standard and immediate.

This new functionality is designed to help the financial inclusion of older people, immigrants and other groups with difficulties accessing banking services and in rural environments where essential financial services have been reduced or even disappeared.  

The Correos Prepaid card , which only allows you to spend the amount of money previously loaded , is not linked to any checking account, making it a convenient and secure means of payment that allows control of the operations carried out.

Users can pay with their card at more than 35 million points in Mastercard's global network and withdraw cash at ATMs and at any logistics company office.