Post Office Card Account - Transferring money out

dzug1

margaretclare wrote: »

I personally cannot understand why anyone chooses to bother with this very limited form of account.

Not really 'choosing' in many cases.

Many of the pensioners who have one have never had a bank account in their lives and wouldn't know what to do with one. Probably wouldn't get one if they applied. This was foisted on to them as a substitute for their pension book.

The more strong minded/obstinate of them, who carried on refusing despite veiled threats of no pension if you don't, now receive a weekly girocheque.

Franco50

Rikki wrote: »

Thank you for getting back in touch with your findings. I'm sure this information will help many people.

I hope your Father is better and life is back to normal.

Thanks for your post Rikki. Unfortunately my dad had another fall within 10 days of him getting home from hospital and he has been re-admitted. He has broken a bone in his hand and because of his other general mobility problems we are trying to negotiate with the social work department that a place in a residential home would be best for him.

Franco50

dzug1 wrote: »

Not really 'choosing' in many cases.

Many of the pensioners who have one have never had a bank account in their lives and wouldn't know what to do with one. Probably wouldn't get one if they applied. This was foisted on to them as a substitute for their pension book.

The more strong minded/obstinate of them, who carried on refusing despite veiled threats of no pension if you don't, now receive a weekly girocheque.

You are pretty much on the button with your comments. My parents had the old style pension book and just moved over to the card account when it was introduced as a replacement. Both my late mother and my dad worked in jobs where they were always paid weekly in cash and, to their way of thinking, a bank account was for rich people. Laughable in this day and age I know! While my mum was alive they only had the basic state pension paid into the PO account, which of course is all it was intended for, and they drew out pretty much the full amount weekly without fail. When my mum died my dad had a visit from social services and also someone from the department of pensions office and all of a sudden his weekly income rocketed as he was entitled to all sorts of benefits and allowances he hadn't been aware of. It is ironic that in all his working days he never earned the kind of income he was now receiving! The account balance rapidly built up because of the numerous times he has been in hospital over the past year and the fact the account has been drawn on very little in that time.

Thanks for all the replies.

seven-day-weekend

My parents also did not have a bank account until my dad died and then my b-i-l sorted out mum's finances for her and helped her to open a BS account for all the extra money she had (which always worried her until the end of her days as she was always thinking 'they' were going to tell her she wasn't entitled to it and had to pay it all back ).

Quite common I think for people of my parents' age and class.

margaretclare

However, it has been the case for many years now that more and more people were required to have a bank account to receive their wages/salary, and these were by no means 'rich' people, rather, folk in quite ordinary jobs.

DH remembers fights with the unions as far back as the early 1970s when the trend was for employees to be paid into their bank accounts rather than being handed a little brown envelope on a Friday. He was in management then and he remembers the unions invoking the Truck Acts of the 1840s which said that everyone had the right to be paid in 'coin of the realm'. I remember these times too, and there were more banks to choose from then.

I can't remember a time when I didn't have a bank account of one kind or other. I had a bank savings account from age 5.

I've been in hospital at the same time as some of those 'strong-minded/obstinate' folk. I've been able to lie back and just concentrate on getting better, listening to them agonising about 'oh but I always go to the PO on a Monday morning, I can't go, I have things to pay, what will happen' etc etc.

BTW, sorry to hear about your Dad, Franco.