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The Postal Savings System was established as a result of lobbying by farmers and workers with grievances against the private banking system due to numerous bank closures and inadequate credit opportunities. [3] After the Panic of 1907, the Republican Party supported a postal banking system, while Democrats preferred deposit insurance.
The Philippine Postal Savings Bank (PPSB), also known as PostalBank, is the state-owned postal savings system in the Philippines. It is the smallest of the Philippines' three state-owned banks and is governed separately from PhilPost.
Depositors in the system were initially limited to hold a balance of $500, but this was raised to $1,000 in 1916 and to $2,500 in 1918. The initial minimum deposit was $1. In order to save smaller amounts for deposit, customers could purchase a 10-cent postal savings card and 10-cent postal savings stamps to fill it.
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The United States Postal Service just announced that it is cutting Saturday delivery in August, moving to a five-day schedule as part of a multiyear effort to reduce costs and remain viable. That ...
Postal banking may be making a comeback. The U.S. Postal Service will announce Monday that it has started testing a handful of new financial services.
1911 - United States creates a postal savings system. 1912 - last stamps of Anjouan, superseded by Madagascar; 1913 - first stamps of Australia, superseding those of the various former colonies; 1913 5 May - first stamps of Albania; 1913 - United States initiates parcel post service, using special stamps.
Given the Postal Service’s popularity, not to mention laws forbidding any persons other than USPS personnel from touching your mailbox, the conservative drive to undermine mail delivery makes no ...