Post Office announces “Payout Now” Scheme to help older people

The Post Office is making its Payout Now Scheme available to all UK banks to help older people and those self-isolating.

The 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 the pandemic.

The scheme means that self-isolating or vulnerable people affected by the coronavirus pandemic can now contact their Banks and Building Societies (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.

Many local Age UKs are seeing an increasing number of enquiries from local people concerned about accessing their money during the crisis to pay for shopping and supplies. This scheme may provide an opportunity for local Age UKs to support with helping people access their cash quickly and safely.

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