Friday, June 3, 2011

Mobile Bank Bus - Hop Aboard!

There are many incarnations of mobile bank buses.  The picture at right shows one used in Virginia, USA which allows people to file taxes, get online banking tutorials, run credit reports, and access bank and mortgage services from BB&T Bank.

Similar buses are being used across the developing world to bring banking to remote areas that otherwise would be too small and distant to warrant a bank branch.  In Nagpur India, for example, IDBI has launched "Mobile Bank" Buses.  They have promised not to charge account holders for savings accounts for the first five years of service.

These buses will target 73,000 villages with populations under 2,000 each.  IDBI is planning to open hundreds on bank bus branches this year. (Source:  NewKerala.com: IDBI Launches 'Mobile Bank' Bus)

If successful, these bank buses could bring banking services, loans, savings and investment to those who would otherwise have extremely limited access.

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