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Daily Mirror
Daily Mirror
Business
Emma Munbodh

Post Office launches voucher scheme to help isolated people access cash

Vulnerable or self-isolated people who are unable to pick up essentials during the coronavirus pandemic will be able to ask a friend or volunteer to withdraw cash at any using the Post Office's latest voucher scheme.

A new initiative that's being extended across all banks, building societies and credit unions will allow those at risk to access money without sharing their card details.

Payout Now allows you to withdraw cash in the form of a voucher. The customer can request their withdrawal amount, and then ask for the barcode to be texted to a friend of relative who can then cash it in at any Post Office branch.

Previously, only a named individual, such as a carer, could collect cash in this way on someone's behalf. Now any trusted neighbour or volunteer can do so.

The idea of the Payout Now scheme is to allow people who are shielded or self-isolating, mainly elderly, to maintain access to cash without having to hand over a debit card and Pin to somebody else.

They tell their bank exactly how much they want to withdraw from their account, up to a limit set by the bank, and allow a family member, trusted friend or volunteer to collect it on their behalf in exchange for the voucher.

Have you been approached by fraudsters during the coronavirus pandemic? Get in touch: emma.munbodh@mirror.co.uk

Martin Kearsley, banking director at the Post Office, said: "Being able to easily access cash is a vital service for older people and those self-isolating.

"[This] means they can access cash quickly and securely to repay someone for a helpful service like shopping, or simply manage their finances, providing peace of mind that cash can be securely sourced with the help of any trusted helper."

A service that allows vulnerable customers to contact their bank and arrange to cash a cheque at a Post Office branch is also being sped up.

Under the Fast PACE system, the customer should contact their bank and check they can use the service. They would then write a cheque to "The Post Office", print the name on the back of the cheque of the person collecting it for them and sign that side too.

That individual can then collect the cash from a Post Office branch after their ID is verified.

"Anyone collecting cash on behalf of another person must remember to practise safe distancing and should consider arranging with the recipient how the cash can be safely handed over - perhaps through a person's letterbox, for example," Kearsley added.

Self-isolating or vulnerable people affected by the coronavirus pandemic will need to contact their financial institution to see if they offer the services (Getty Images)

Both schemes come with a warning that people should only use friends and volunteers who are completely trusted.

There have been reports of fraudsters offering to help customers who cannot leave their home - only to take the money and then disappear.

In recent weeks, Marks & Spencer and Asda have also launched new gift card initiatives to help elderly, vulnerable and isolated people get access to essentials without having to share their card details.

The cards, which can be topped up online, can be shared with a friend or neighbour who can pick up the supermarket items.

The Post Office has a UK network of more than 11,500 branches - many are open as usual, however some have had to revise their opening hours due to the pandemic.

Kearsley added: "The vast majority of post offices are open, however there are branches that have to close for self-isolation reasons.

"Many Post Offices have floor markers and other information on posters to help customers stay two metres apart."

He said anyone collecting cash on someone else's behalf must remember to practise safe distancing and should consider arranging with the recipient how the cash can be safely handed over - perhaps through a person's letterbox, for example.

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