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Daily Record
Daily Record
Lifestyle
Vicky Shaw & Linda Howard

Post Office launches new scheme to help vulnerable and self-isolating people access cash more easily

The Post Office is making two of its products available to all UK banks and building societies to make it easier for people who are vulnerable or self-isolatin g to access cash more easily.

Those who are unable to pick up essentials during the coronavirus pandemic will be able to ask a friend or volunteer to withdraw cash using the Post Office's latest scheme - without sharing their card details.

Payout Now is a barcode voucher sent by text, email or post to a customer who can share it with a trusted person to withdraw cash.

Previously, only a named individual such as a carer could collect money in this way on someone's behalf.

Working with the Treasury, the Financial Conduct Authority (FCA) and UK Finance, has also sped up a process allowing cheques to be cashed at any branch.

Customers need to contact their bank or building society first to check if they are providing this service. 

If they are, simply write a cheque to ‘The Post Office’, print the name on the back of the cheque of the person collecting it and sign that side too.

That individual can then collect the cash from a Post Office branch once their ID has been verified.

The process can take as little as a day to go through.

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.

"Our Payout Now and Fast Pace services mean 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."

The Post Office said branches do have to close at short notice for self-isolation reasons and some have reduced their opening hours since the start of the coronavirus outbreak.

Mr 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."

Post Office customers can find the latest information on branch opening hours using its branch finder here.

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