Post Office makes access to cash available faster for self-isolating customers


Post Office is making two of its products – ‘Payout Now’ and ‘Fast PACE’ (a pre-authorised cheque encashment service) – available to all the UK’s banks, building societies and credit unions to offer to any of their customers who are most in need of access to cash simply and speedily during this national emergency.


The improved services mean that self-isolating or vulnerable citizens affected by the coronavirus pandemic can now contact their financial institution if they choose to offer these services and arrange to withdraw cash quickly from their normal accounts through any local Post Office branch, with the help of a friend, family member, carer or local support worker.


Payout Now

In order to take advantage of this service offered by Post Office, a customer needs to:

  • Contact their bank, building society or credit union who will be able to issue a barcode voucher to their customer

  • The one-time use barcode voucher will be issued for a nominated amount and will be sent to the customer via SMS text, email or post

  • The barcode voucher can be exchanged in a Post Office branch on their behalf by a family member, friend, carer or volunteer for cash.


Fast PACE

In order to take advantage of this service offered by Post Office, a customer needs to:

  • Contact their bank and inform them that they want to withdraw cash using the Fast Track Cheque Encashment service

  • The bank will then inform the Post Office of the maximum cheque amount they are allowed to cash

  • The customer can arrange for any family member, friend, carer or volunteer to collect the cheque from them. They complete the cheque as normal, payable to ‘The Post Office’, print the name on the back of the cheque of the third party collecting it for them and sign that side too.

  • That person then presents the cheque with their own ID such as bank card or driving licence. They can do this at their local Post Office or any other Post Office that is open. They then take the cash back to the individual who is self-isolating while following safe social distancing guidelines.

  • The Fast PACE service also means that if a helper has bought supplies for someone self-isolating, they can be reimbursed immediately by simply presenting the customer’s cheque at any Post Office.


https://www.onepostoffice.co.uk/secure/latest-news/our-products/post-office-makes-access-to-cash-available-faster-for-self-isolating-customers/


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