Postal Corp introduces debit card service

More money will be injected into the Vincentian economy through the introduction of Postcash, its CEO Jeff Pressman projects.

“The less you pay for money transfer, the more money gets into the Vincentian economy,” Pressman said. The cost is fixed at US$9.95 for each transfer of funds.{{more}}

The plastic money can be used in the same way as a credit or debit card.

Relatives overseas can deposit money on the account. This will cost $9.95 and within 15 minutes the money is available to the account holder in St Vincent and the Grenadines.

The card can be used to withdraw money at any ATM on the Visa Plus network or used to shop on the Internet.

Compared to other money transfer programmes, Pressman said that postcash is more competitive.

A Postcash account can be opened at any Post office.

St Vincent and the Grenadines is the eighth Caribean country to implement Postcash.

Conrad Sayers, Minister with Responsibility for Postal Services, highlighted improvements in the postal service since the Unity Labour Party took over following the March 28, 2001 general elections.

He cited that letters, and other items sent through the Post Office were properly accounted for, and alluded to additional security measures including close circuit cameras at the Post Office.

An Online mail-tracking device also helps clients track registered mails and parcels, and Sayers underlined other improvements credited to the new Postal Corporation.