To upgrade the functionality of the Postal Settlement System (PSS), Latvijas Pasts has implemented a number of improvements: a mobile text message service has been introduced to record the balance on the customer accounts, while the bill payment processing times have been speeded up in accordance with modern settlement principles.
Latvijas Pasts provides a variety of financial services: the post offices offer the opportunity to pay all types of bills, carry out money transfers, deposit money to one’s own payment account or the account of another Latvijas Pasts customer, make transfers to the accounts of legal entities or private individuals in domestic or foreign credit institutions, service transactions on PSS accounts and receive other financial services.
The most popular financial service in post offices is a payment account with the PSS, the advantages of which are currently used by almost 306,000 individuals and legal entities. Post offices in rural regions are often the only place where financial transactions can be made, such as paying bills and receiving cash pay-outs. A convenient way to get a cash pay-out from a PSS account at the place of residence is through the intermediary of a postman.
With the modernisation of the PSS service, payment account holders have the opportunity to obtain information about the incoming and outgoing transactions on their account without visiting the post office, but by receiving a text message (SMS) on their mobile phone. It is possible to apply for this service in any post office: the first two text messages within one month will be sent to the customer free of charge. Since the introduction of the text message service, an average of 50,000 SMS have been sent this way to Latvijas Pasts customers per month, and their number continues to grow. More information about the service is available here.
In accordance with the modern settlement principles, Latvijas Pasts has speeded up the payment processing time of the bills in post offices to one business day at the most, ensuring payment of bills in a quick, convenient and favourable way. The service fee established by the company in cash is in the lowest country: the service cost of paying bills depends on how the service provider draws up the bill: if it contains a barcode (giro bills), payment of the bill is cheaper and costs 0.60 euro, whereas the service fee for bills which do not have a bar code amounts to 2.50 euro.
In order to open a PSS account, the customer must go to the post office bringing along his or her passport or ID card. The opening of an account is free of charge. Holding a payment account in the post office provides a convenient way to receive salaries, pensions, benefits and other payments, make transfers to the accounts of legal entities or private individuals in the post offices, as well as credit institutions in Latvia and abroad, deposit and withdraw cash from one’s account, pay bills for rent, utilities and other services. Detailed information is available here.
About SJSC Latvijas Pasts
Latvijas Pasts ensures the widest availability of postal services throughout Latvia by maintaining more than 600 post offices. The primary function of the company is provision of the universal postal service; Latvijas Pasts also provides commercial transport, express mail, payment, press subscription, retail and philatelic services. Latvijas Pasts is a wholly State-owned company with more than 4,200 employees. The quality measurements of Latvijas Pasts domestic mail deliveries are regularly conducted by Kantar TNS, one of the leading market, social and media research agencies in Latvia. In turn, the quality measurements of the cross-border deliveries are provided within the framework of the International Post Corporation through the intermediary of the research companies Kantar TNS, Ipsos and Quotas.