- Category: Widget
- Published: Wednesday, 28 January 2015 14:00
- Written by Isaac
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New Postal Rule Discounts Parcel Shipments
Staten Island commercial bank notes barcode compliance can cut business costs
STATEN ISLAND, N.Y. – As of three days ago, any business that mails its products is now obliged to use an Intelligent Mail Package Barcode (IMpb) in order to continue qualifying for reduced mailing rates.
Victory State Bank, Staten Island's only community-based business bank, views the barcode's use as a way for a firm to save money on sending its wares.
The U.S. Postal Service had a phase-in countdown to Jan. 25, starting back in 2013, when a postal bulletin announced changes to its Domestic Mail Manual (DMM) with “New Standards to Enhance Package Visibility.”
That interval allowing businesses to adapt and prepare ended this past Sunday.
A writer for Forbes has outlined advantages of using the IMpb.
- It provides an end to end tracking service where packages will be scanned up to 11 times, making it easier to get tracking information for companies and customers alike.
- The so-called Intelligent Barcode's use will also grant free insurance without having to go to the post office to buy it.
- And businesses that use it will be able to save 5 to 50 percent on postage, compared to typical commercial rates, depending on the packages’ weight, class and distance.
Pitney Bowes (PB), which sells software for generating shipping labels containing the barcode, says the Postal Service uses the tracking data to expedite package delivery and reduce costs.
After Jan. 25, PB says, “shippers will be charged the full retail shipping price, but will get discounted shipping and other benefits if they use the new Intelligent Mail® Package Barcode.”
The Postal Service made the IMpb requirements effective Jan. 26, 2014, but initially posted an extended transitional period until July 27 to allow additional time for mailers to modify their systems.
There were some exceptions to allow additional time, but the USPS said in its DMM postal bulletin, “All mailers must be fully IMpb-compliant … by January 25, 2015.”
About Victory State Bank
VSB Bancorp, Inc. (OTCQB: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.