Postal Service Changes Will Alter American Bill Payment Habits
On May 15th of this year, barring any last minute delays, there will be sweeping changes to the way many Americans pay their bills. For quite some time the Postal Service has been in negotiations with Congress over how and when changes to mail processing and delivery will occur. American Banker reports, “The deal with lawmakers comes on the heels of several recent proposals by the Postal Service to examine the possible closure of more than half its 487 mail processing centers and elimination of overnight First Class mail delivery. The agency has also proposed cutting Saturday delivery as part of efforts to reduce operating costs by $20 billion by 2015.”
For many of us the changes will not create a major disruption in how we conduct our business. One recent study revealed that 61% of Americans are now using online banking and bill pay services. This number has been steadily increasing, as witnessed by the New York Times report in 2006 stating that 35% of us were paying our bills online. The number of Americans utilizing online banking will very likely grow at an even faster rate as postal services are trimmed back.
Online banking is nothing new to Regents Bank. We offer a complete menu of online banking services which can be found at https://www.regentsbank.com/#/business-online-banking-services. Electronic statements are available as well. Signing up for online banking with Regents is as easy as filling out the necessary forms online for our existing customers, and new customers can have the services added when they open their new accounts.
Visit a Regents Bank office today to add online services, open a new account, or talk personally with one of our experienced bankers about which are the best options for you. We have branch offices conveniently located in San Diego, La Jolla, El Cajon and Carlsbad, as well as our office in Vancouver, WA.