- 13 April 2020
- Transport / Logistics Services
The UK Post Office is making it easier for those in isolation or shielding to access cash through its system. The Payout Now and Fast PACE are now available to all UK banks, building societies and credit unions.
Those in isolation or shielding can now contact their banks to see if they are offering the services that allow a friend, carer, support worker or family member to withdraw cash quickly from local Post Office branches.
The Payout Now scheme enables banks and building societies to send a barcode voucher to someone’s phones by text or email, and the barcode converted into cash at the Post Office.
The Fast PACE scheme is a development of the pre-authorised cheque encashment service. Under the new scheme a nominated supporter can now encash the cheque on someone’s behalf.
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.”