Text 1.2. Financial Services of Post

Post provides a variety of financial services to assist you with your personal and business financial requirements. Banking at Post allows you to use your credit or debit cards at postal outlets to undertake a variety of financial transactions including deposits, withdrawals, account balance enquiries, account opening, and payments for credit card bills. Getting cash at any Post Office branch is free, easy and safe with the automated banking service – all you need is your card and Personal Identification Number (PIN). Automated banking is safe and secure, as you can only take out money using your card and your PIN. The PIN pad screen is designed to prevent anyone else seeing the number you are entering. Unlike cash machines, you won’t be limited to a certain sum, but can withdraw just the amount of money you need.

Paying your bills at a Post Office branch takes the hassle out of it and you are able to pay bills securely and conveniently either in person, by phone, or over the internet. Select the method that suits you best. The Post Office accepts payment and pre-payments towards a whole range of bills, including telephone, cable TV, gas, electricity, water, mail order, Inland Revenue self assessment bills, insurance, and TV and video rentals. Many of these schemes offer some kind of budgeting facility, such as savings stamps or payment cards. You can also pay most of these bills by cheque. Simply present your bills over the counter together with your chosen method of payment and receive an immediate receipt. It’s friendly, flexible and secure, all in one place with one easy payment. As soon as a payment has been processed you are given an immediate receipt, with details of the transaction for your own records. Details of your payment as well as funds are quickly passed on to the billing company.

Sending cash through the mail is risky. Money orders are a hassle-free, convenient, safe and economical alternative to cheques. They’re easy to buy, easy to cash and readily accepted as a form of currency. They provide you with the security of a bank cheque, at a lower price. As there’s no need for a bank account you don’t need to wait days for it to clear. As well as being cashed on-the-spot, money orders can be deposited directly into a bank account, subject to a clearance period. Express Money Order is the ideal way to send cash to cover unexpected holiday expenses, a car breakdown or to clinch an important deal.

Comprehension Practice

Exercise 1. Comment on the statements based on the text you’ve read. While doing the task, you should, first, say which of the statements are true, which are partly true and which are false, and then elaborate on them.

1. Post provides a variety of financial services to assist you with your personal and business financial requirements.

2. The variety of financial transactions include deposits, withdrawals, account balance enquiries and account opening.

3. To use the automated banking service one needs their credit or debit card.

4. Automated banking is risky and insecure.

5. Unlike ATMs, the customer is not limited to a certain sum.

6. One can pay bills at a Post Office branch only in person.

7. The Post Office accepts payments towards a limited range of bills.

8. The schemes for paying bills at a Post Office are convenient, secure and economical.

9. You cannot keep records of the transactions if you pay your bills at a Post Office.

10. Money orders do not differ much from cheques.

11. Money orders provide you with the security of a bank cheque, but they are cheaper.

12. Money orders take a long time to cash.

13. Money orders can be deposited directly into a bank account in no time.

Exercise 2. Answer the following questions about the text.

1. How does Post facilitate one’s personal and business financial requirements?

2. Why is paying bills at a Post Office branch convenient and hassle-free?

3. How can the customer obtain the details of his payment?

4. What are the advantages of money orders over other means of transportation of cash?

Exercise 3. Find the following words in the text and paraphrase sentences in which they are used.

a postal outlet a deposit a withdrawal account balance enquiry a cash machine

cash the money order take the hassle out budgeting facility on-the-spot