Coronavirus support:
Coronavirus support:
As large numbers of people up and down the UK shield, self-isolate and struggle to leave their homes, the availability of cash to help them pay for informal services has taken on a greater significance than ever before.
In order to help the most vulnerable in society, Post Office is partnering with as many financial institutions, local councils and central government departments as possible to offer 3 new services.
If you think your organisation could benefit, or would like to learn more, then please send us a message via our general enquiry form . We ask that you refrain from contacting our call centre if possible during this time in order that we can privilege our vulnerable customers.
Customers who are interested in receiving cash through one of these products should contact their financial institution or payment authority to understand what options they provide to support access to cash.
Those who are unable to leave their homes – whether because they can’t or in order to minimise their risk of infection – often rely on others to perform tasks for them, such as grocery shopping or picking up prescriptions.
Many people rely on cash and cheques to pay for these services and reimburse their helpers.
Obtaining cash without leaving the house could require a person to entrust their card to someone, leaving vulnerable people open to risk.
Our 3 new services mitigate that risk.
Payout Now and Fast PACE allow people to control the amount of cash that another person can withdraw on their behalf. In the first instance, someone can request a voucher for a specific amount that can then be exchanged in a Post Office branch. In the second, a cheque for a specific amount can be written and cashed on the same day.
Those who offer their time to help vulnerable people can therefore receive reimbursement far sooner than normal.
Some people may opt not to ask someone to get cash on their behalf using Payout Now or Fast PACE. To help support these customers we can offer Cash Direct.
This service provides customers with a voucher barcode which can be taken into any Post Office branch and exchanged for cash.
Payout Now is a valuable service with a lifespan beyond the current crisis. It has several advantages for financial institutions: it’s highly secure, it requires no IT integration so can be rolled out rapidly, and payments to customers can be provided quickly and safely.
A customer can call their financial institution requesting a payment, the financial institution then sends them a text or email, and the customer can go into a Post Office to scan their barcode or voucher. From beginning to end, the process can take minutes.
This is one service that exemplifies how the coronavirus pandemic has shone a light on how we can do more for our customers, and vulnerable customers in particular.
Fast PACE is a same-day cheque encashment service, enabling those who can’t or mustn’t leave their home to write a cheque for a trusted person to then cash at their nearest Post Office.
Customers are pre-approved for this service by their financial institution before coming to cash their cheque.
Cash Direct is a next-day cash delivery service to get cash to customers who are required to stay at home, for instance to shield from coronavirus.