Spanish postal operator Correos and Banco Santander have extended their financial inclusion partnership to allow cash delivery at home of up to €500 (US$532) without the need for access to online banking services or visiting the post office.
Customers simply tell the postal worker how much money they would like delivered and have their identity verified on the postal worker’s mobile device. This will then inform Correos that the person is a customer of the bank and that they have enough balance in their account.
Once the request is made, the customer will be informed via an SMS on the day of delivery of the cash. The postal worker will then securely deliver the requested amount of money to the customer’s home.
In addition, the Correos Cash service allows customers to make free cash withdrawals and deposits at more than 4,600 Correos service points using just ID verification and a bank card.
Through its partnership with Correos, Banco Santander is present in 46% of Spanish municipalities, covering 97% of the population.