Managing your finances from the comfort of your living room
There’s lots you can do to make looking after your money easier without having to leave your home, writes VICKY SHAW
SOCIAL distancing measures have changed our lives in many ways, including how we complete everyday financial tasks. While you may need to approach some money-related matters differently, who knows – some of the alternative options now available may turn out to be simpler to use, or get the job done more quickly than your usual habits.
With that in mind, here are some potential workarounds for getting money-related tasks done during lockdown...
1 Need information from your bank or want to pay in a cheque? Try going online first
WITH many banks operating limited branch opening hours, and the helplines of many financial firms extremely busy, you may find you have a better chance of finding answers quickly by visiting your firm’s website.
Banks have put lots of information, including forms, online so that people whose finances have been affected by coronavirus access help, such as mortgage payment holidays and interest-free overdraft buffers.
If you need to find out more, you may also be able to use your providers’ web chat services.
Depending who you bank with, you may also find you can pay in cheques using your bank’s mobile banking app, rather than needing to go to a branch.
For example, HSBC UK says it has seen the number of cheques being deposited digitally increase by 30% during the coronavirus lockdown.
Customers can pay in cheques by taking a picture using the HSBC UK mobile banking app.
2 Need some cash but can’t get to your high street? An ask-a-friend scheme could help
ANYONE who is self-isolating or shielding at home may find it easier to access cash remotely, thanks to some innovations from the Post Office.
It has made two of its products available to all UK banks, building societies and credit unions.
Customers will need to contact their financial institution though, to see if they offer these products.
The products are Payout Now, a voucher sent by text, email or post to a customer who can share it with a trusted person to withdraw cash, and Fast Pace – a service allowing a customer to arrange for a trusted person to collect a cheque from them, cash it at a post office and return with the money.
Payout Now involves sending a barcode voucher to the customer which can be exchanged for cash in any Post Office branch.
The Fast Pace scheme means customers can name a trusted person, such as carer or family member, to cash a pre-authorised cheque on their behalf at a Post Office branch.
Your bank or building society may have its own initiatives to help vulnerable people access their money, so look for details.
3 New parent? You could still claim child benefit
RULES around claiming child benefit have been relaxed, so that parents of new-borns can still claim even if they’ve been unable to register their child’s birth.
First-time parents will need to fill in a claim form (gov.uk/ government/publications/childbenefit-claim-form-ch2).
If parents already claim child benefit, they can complete the form or add their new-born’s details by phoning up, with their national insurance or child benefit number.
4 Thinking of moving home? Try a virtual viewing
WHILE you may not be able to physically go house-hunting right now, there’s a lot of research you can do to help separate the ‘maybe’ properties on your list of potential new homes from the duds.
Website Rightmove says some homes for sale or rent have prerecorded videos available for people to view online. Sellers are being guided by their estate agents, who can’t visit, to record their own videos using high-quality cameras on mobile phones.
For those whose homes aren’t yet on the market, Rightmove says some agents with good knowledge of the local area are also using live stream video to offer virtual valuations to prospective sellers, in preparation for future marketing.
5
THE Chartered Management
Institute (CMI) has some tips if you’re asked to do a job interview online.
Firstly, it suggests being aware of how you come across on camera, including your backdrop.
Before the meeting, make sure that your computer is charged and a charger is nearby. Silence other devices to avoid interruptions.
Overall, the CMI says consider how you can stand out.
Pay close attention to your online presence and your CV, so potential employers get a sense of who you are when they can’t meet you in person.
Free help to improve digital and numeracy skills, often valued by employers, is also available online.
More information is at theskillstoolkit.campaign.gov.uk