Stop the Post Office from Discriminating against the Underbanked
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For years now, thousands of Americans have relied on the Post Office to accept Pre-paid debit cards to purchase USPS Money Orders. They do this to avoid check cashing places/online transfer sites which charge exorbitant fees to transfer money from prepaid debit cards to Money Orders. Most of the time the Money Orders are then used to pay bills.
However, recently the Post Office has changed their POS system to prohibit the purchase of Money Orders with pin based pre-paid debit cards. Not only does this action go against the Post Offices' written policy of allowing Pin-based debit cards to be used for the purchase of money orders, but this policy change is not compliant with federal regulation.
1. The Post Office specifically states that Money Orders can be purchased with pre-paid debit cards. Pre-paid debit cards are pin based debit cards. They are not "giftcards" as some misinformed Postal Employees might argue. Giftcards are classified as "closed loop" cards, which can only be used at specific store(s).
2. The Durbin Amendment to the Dodd Frank Act specifically prohibit the Post Offices' actions. The Post Office restricts the ability to use the Pre-paid debit cards over the debit card network. The Post Office only allows Pre-paid debit card transactions to be run over credit networks, which would be a violation of the Durbin Amendment. Furthermore, the Post Office has implemented this action to target only a select few banks, not all banks that issue debit cards, again another violation of the Durbin Amendment.
We hope the Post Office not only follows its own policy, but also Federal Law. We know that it is the holiday season, so it might take some time for the Post Office to change the POS system to once again help thousands of Americans who rely on the Post Office to accept Pre-paid debit cards to purchase USPS Money Orders. However, we are looking for a swift resolution.
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