What is “Bank Time”

Answer: “Bank Time” is a term used to define the time accumulated on a route as a result of adding new boxes, miles, etc. to the route. This time is accumulated each time a PS Form 4003 is submitted with new data. This accumulated time is printed on the bottom of the PS Form 4241-A until the route accumulates an additional one hour of time. At that time an interim adjustment is triggered in the route’s evaluation. The “bank” disappears each time an interim adjustment becomes effective, or when the route undergoes a mail count Related Information:

Additional Question: How do I know how much time I have accumulated toward the next one-hour adjustment? Answer: Carriers whose routes were recently counted will receive a new PS Form 4241-A. These routes will no longer have any “bank” time as a result of the mail count. At this time routes that were not counted will have to refer to the most recent PS Form 4241-A received prior to the base hour change to see the “bank” time. A copy of this form should be in the route book at the carrier’s case. Carrier’s are encouraged to keep track of their own copy of this form at home. Question: Will I receive an updated PS Form 4241-A, which will show the amount of time accumulated toward my next one-hour adjustment? Answer: Carriers whose routes were recently counted should have received an updated PS Form 4241-A as a result of the mail count. There is currently discussion being held as to the possibility of providing those carriers whose routes were not being counted, an updated PS Form 4241-A, once the mail count has been properly processed. (Ref.: NRLC Mag. 11/11/00) Reference: (Ref.: NRLC Mag. 11/11/00)

Log in or Register to save this content for later.