Spain: Cajamar delivers Cash to the Homes of the Elderly

Categories : Innovation contributes to the efficiency of cash

June 11, 2020

Published in : Access to cash, Commercial bank, Innovation, Spain

Cajamar, the Spanish rural savings bank partners with local municipalities to facilitate access to cash for the elderly, without leaving their homes.

The ‘Banco en casa’ initiative or bank at home will allow elderly people to access cash without leaving their homes and having to visit a branch or ATM.

An agreement has been signed with different municipalities whereby council staff will be empowered to perform the cash service. The client must expressly authorise the town official to withdraw money from deposit or savings accounts held with Cajamar. The customer is required to sign a letter of authorisation for the withdrawal of funds, which will be unique and will only be valid on the day of issue, for the specified amount. It must be accompanied by the client’s original ID. The city council will designate public officials who provide home care services to carry out this function.

The initiative joins a series of innovations around the globe aimed at facilitating access to and acceptance of cash during the pandemic.

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