Two years after the failed launch of a lending program, Canada Post looks to be making another foray into banking services.
Based on a document posted to the Canadian Union Of Postal Workers website, the postal service will soon be launching a chequing and savings account in partnership with Koho Financial Inc.
The document, which was online for a brief time before being taken down, says Canada Post will start testing the MyMoney account this month with a national launch next year.
It says accounts will have features such as cash back, high interest and options to build or improve credit and will use a prepaid, reloadable Mastercard.
The apparent plans come after Canada Post launched a lending program with TD Bank Group in late 2022, only to shut it down weeks later because of what it said were processing issues.
Canada Post did not respond to a request to confirm the plans.
