Big changes to post office accounts coming in days for tax credit and child benefit payments

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People whose benefits are paid into a postal account are urged to act now, as major changes are happening. The warning was sent by HM Revenue and Customs (HMRC) to post card account holders.

Those receiving HMRC-related payments on these accounts have just one week to switch accounts. About 6,800 customers with a Postcard account, who receive tax credits, child benefits or guardianship benefits, must transfer their account by April 5, 2022, to continue receiving their money without interruption.

HMRC will stop making payments to postcard accounts from April 6. Customers, who have not already done so, should advise HMRC of an alternative account to which their payments will be made.

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A spokesperson said it will not be possible to pay tax credits or child benefits until a valid account is provided. These funds could be vital for families and individuals, due to the rising cost of living, and HMRC wants to make sure no one loses out, the spokesperson added.

Myrtle Lloyd, HMRC’s Chief Customer Services Officer, said: “Time is running out and we want to make sure no customer misses the benefit payments they are entitled to. If you still need to switch Post card accounts Office, contact HMRC to update your bank account details.”

HMRC has been writing to affected customers since October 2019 advising them that their postcard accounts will be closed and urging them to take action. More than 143,000 customers have already switched accounts and provided HMRC with updated details.

Clients can choose to receive their benefit payments in a bank account, from a building society, or from a credit union. If they already have another account, they can contact HMRC now to update their details.

Child Benefit and Carer’s Allowance customers can use their personal tax account to provide revised account details, change their bank details via GOV.UK or by contacting the Child Benefit Helpline on 0300 200 3100. Tax credit customers can change their bank details by contacting the tax credit hotline on 0345 300 3900.

If customers cannot open a bank account, they should contact HMRC. Those who miss the April 5 deadline will have their payments suspended until they notify HMRC of their new account details.

The Money Helper site, offered by the Monetary and Retirement Advice Service, offers information and advice on choosing the right current account and opening an account.

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