CaixaBank and Correos have signed a collaboration agreement to expand access to cash throughout Spain. This bilateral agreement is part of the collaboration agreement signed by Correos with the Spanish Confederation of Savings Banks (CECA) and other professional associations in the financial sector (AEB and Unacc) to facilitate cash withdrawals throughout Spain.
The aim is for all citizens, regardless of their age and place of residence, to have access to cash with as little travel as possible. To this end, the collaboration protocol provides for CaixaBank customers to be able to request home delivery of cash, up to a maximum of 500 euros, which will be delivered to them by postmen and rural wallets. The agreement also includes the possibility for bank customers to deposit and withdraw cash at all the postal company’s customer service points.
The signing of the agreement was attended by Juan Manuel Serrano, Chairman of Correos; Gonzalo Gortázar, CEO of CaixaBank; and Jaume Masana, Business Director of the financial institution. Juan Manuel Serrano, Chairman of Correos, stressed that “at Correos we offer CaixaBank the capillarity and full territorial coverage of our network of branches and rural services, to contribute to financial inclusion throughout Spain and guarantee access to cash to all citizens, also in rural areas”.
Presence in more than 2,200 municipalities
For his part, Gonzalo Gortázar highlighted how the agreement reinforces the bank’s service model: “CaixaBank, with a presence in more than 2,200 municipalities, is the Spanish bank with the largest branch network and also the one that offers the best coverage in rural areas: 40% of our branches are in towns with less than 10,000 inhabitants. Not only are we firmly committed to maintaining our presence in all the towns in which we are present, but we also serve a further 628 municipalities through mobile branches. In this context, joining forces with Correos helps us to reinforce the service model for people in all geographical areas”.
A broad geographic presence throughout Spain thanks to the agreement between CaixaBank and Correos
According to CaixaBank’s estimates, around 900,000 people currently live in a town or city without branches or ATMs of any banking institution, in addition to the fact that many of them are elderly.
The agreement with Correos will enable the bank to boost access to cash to its customers throughout Spain. As a result, Correos offers CaixaBank its network of 2,389 branches and nearly 6,000 postmen and postwomen and rural postmen and postwomen, which will enable CaixaBank customers who find it difficult to get to a bank branch, due to mobility problems or because they live in rural areas, to use the services of a postman or postwoman with which CaixaBank customers who find it difficult to travel to a CaixaBank branch, due to mobility problems or because they live in towns where the bank has no branch, will be able to benefit from a reinforced service and improved access to cash.
The agreement with Correos will enable the bank to improve access to cash to its customers throughout Spain. In this way, Correos will provide CaixaBank with its network of 2,389 branches and nearly 6,000 postmen and postwomen and rural postmen and postwomen, giving CaixaBank customers who find it difficult to travel to a branch of the bank, due to mobility problems or because they live in towns where the bank has no branch, a reinforced service and better access to cash.
The agreement will be developed in the coming months through the creation of a specific protocol, which will adapt the services offered by Correos to the characteristics of CaixaBank’s service model for rural areas. To explore the best form of collaboration, a joint multidisciplinary team has been set up to implement access to the new services for CaixaBank customers in a way that prioritises accessibility for people of all ages, without the need for an internet connection or smartphone.
Commitment to financial inclusion throughout Spain
Correos is thus contributing to financial inclusion throughout Spain and helping to guarantee access to cash to all people, both those living in rural areas and those most affected by the digital divide, which will also have a positive impact on the economic development of these areas.
Correos will continue to offer its services to companies, institutions and administrations to promote and develop the activity of its network of offices, an asset that guarantees access to public services for everyone, and contributes to territorial cohesion and the economic development of people and companies, both in urban and rural areas of Spain.