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ive realised today that my mother hasn’t withdrawn her pension for 15 months, she used to withdraw it fortnightly, keep some cash and pay the rest into her bank account, does it just sit there?
( just to clarify, she doesn’t actually have a post office account, her pension is just withdrawn there)
unfortuneatly she is quite cagey when it comes to her finances, but I want to get my facts right before she orders her Santa Cruz!
AFAIK, yes, until it’s withdrawn. Might be worth doing a check with Post Office Counters, just to be on the safe side, in a hypothetical fashion.
While not directly related, just be cautious with the PO. I’m in the process of escalating an issue with Post Office Bank who are holding several thousand pounds of my mother’s from a dormant (expunged) account.
I hold Power of Attorney for my mother who is in care, and I’ve discovered this money with the PO and they’re being extraordinarily slow and obstructive despite me providing them with all required evidence. All I have asked is that they recover the £s and transfer it in to an active account of hers - started the process pre-xmas and still in limbo.
I have now resorted to an FCA threat.
( just to clarify, she doesn’t actually have a post office account, her pension is just withdrawn there)
Are you sure she doesn't have a PO Card Account? As far as I'm aware, these days Pension is paid 4-weekly directly into an account and those that collect their pension from the PO actually have it paid into a PO Card Account and then withdraw it from that when they visit their PO. May be exceptions though, (in true STW fashion, I'm no expert!).
My mother just draws cash from the po account as she needs it. The pension and allowances are paid in. We know if she is spending her allowances if the balance remains roughly the same. For security we always use the same po as it is camera protected and the staff know her. We have never had a problem.