Post Office Card Accounts Valid Until 2021

[TimeLord]

Hi all, anyone that still has benefits paid into Post Office card account. The DWP are ramping up the letterbox again with a different letter title below.


How we pay you is changing

Please Call Us So We Can Help You.
_____________________________________

We Currently Pay your Benefits or Pension into a Post Office Card Account. Our Contract is ending.
We would like to tell us which account we should pay your money into instead.

________________________________________________ex ample

Well the contract is ending but in November 2021 so for anyone that still has one it still isn't compulsory or mandatory as yet. So don't be concerned about the latest tactics to get those with them to switch.

Link Below for reference.
http://www.disabilitynottinghamshire...november-2021/

[druid]

I have to say most people have bank accounts these days but still insist there money is paid onto a post office card.. I think people who have bank accounts should have it paid there .. A few years back the government brought in rules that all banks should offer people on benefits a "basic" free bank account.

[nukecad]

It's quite simple why they keep pushing this - It costs them more money to deposit your benefit to a PO account than to a bank account.

The last I saw, a couple of years ago, it cost them 50p to make each payment into a PO account but only about 1p in administration to send it to a bank.

Multiply that 49p saved by millions of benefit payments and it's a big saving every 2 weeks.

And if you don't have a bank nearby then you can still access most bank accounts at the PO counter these days.
This is from Barclays, most banks have the same or similar set-ups:
https://www.barclays.co.uk/ways-to-b...ffice-banking/

[TimeLord]

Nukecad is correct, it is purely down to cost, over a million people still have pensions and various other benefits paid into Post Office accounts. They are so backhanded over the trickery to lie to people, that many people saw through that and kept them. But they're also looking at setting up a new account for those that can't or won't change. So until the Post Office closes them or it's made mandatory or compulsory by the government, i think they have a job on their hands just sending out the few million letters has probably cost millions.

[druid]

i have seen old people collect cash at a post office and walk accross the road and pay it into a bank? do they actually think there hiding this money from the goverment in some way .
also i think they maybe trying to keep there local post office open and this is the only way they can use there local branch .
have they looked at prepaid cards? im not sure if you can get benefits paid onto a prepaid card?