1-2 of 2 results for subject:Money
Librarians' tools
- Search time
- 0.223 seconds
- Solr query time
- 0.007 seconds
- Search query
- subject:Money
- We searched for
- subject_t:Money OR subject_t:Currency OR subject_t:Minting OR subject_ses:92067
Type
House
Session
Year
Department
Member
Primary member
More
Answering member
Legislative stage
Legislation
Subject
Publisher
My Lords, I agree with my noble friend Lord Holmes that, for those without bank accounts, access to cash ATMs and to retailers which accept cash is crucial, and both are becoming rarer. Is there a role for the Department for Work and Pensions in helping pensioners who do not have bank accounts by issuing them with a prepaid card, topped up monthly, as it already does for universal credit claimants? This would give them financial inclusion and independence.
My Lords, I agree with my noble friend Lord Holmes that, for those without bank accounts, access to cash ATMs and to retailers which accept cash is crucial, and both are becoming rarer. Is there a role for the Department for Work and Pensions in helping pensioners who do not have bank accounts by issuing them with a prepaid card, topped up monthly, as it already does for universal credit claimants? This would give them financial inclusion and independence.
My Lords, the Government are committed to ensuring that all individuals have access to financial products, including a bank account, but the DWP recognises that some customers may be genuinely unable to open or manage a bank account. For those customers, payment is made via the payment exception service. My understanding is that this may already be available to a wider set of customers than the noble Lord referred to, but I will take up this point—as it is a very good one—with the DWP and get back to him.
Lords motions to approve. Agreed to on question.
Lords motions to approve. Agreed to on question.