The bank industry, according to the Baltimore Sun, is using the struggles of another industry for its marketing: The Postal Service. JPMorgan Chase & Co , Bank of America Corp , Citigroup Inc, and Wells Fargo & Co are all using the looming threat of postal service cuts to sell bank services such as electronic payments and remittance pickups that can speed payments likely to be slowed by diminished mail service.
“It is a conversation starter,” said Daniel Peltz, head of Wells Fargo’s Treasury Management division.
Customers may have to wait up to four days longer for invoices to be delivered and payment returned if Saturday postal service is eliminated, according to one bank official.
