Senior Cash Service Launched

Hongkong Post has launched a new service that allows senior citizens to withdraw cash using their EPS bank cards at select post offices by showing their Senior Citizen Card.

The service is now available at seven post offices. They are Cheung Chau Post Office, Mui Wo Post Office, Peng Chau Post Office, Tai O Post Office, Shun Lee Post Office, Tin Yuet Post Office and Tsat Tsz Mui Post Office.

Elderly residents can withdraw up to $500 each time and can use one EPS bank card twice a day.

Legislator Chan Chun-ying said: "The withdrawal patterns of the senior citizens, they tend to withdraw only a small amount of money from banks. But now we have a convenience store network as well as post offices to join this scheme. And that suits their habit of withdrawing only a small amount of money."

Before its launch, Hongkong Post made sure the system worked smoothly and was foolproof.

Postmaster General Gordon Leung said Hongkong Post enhanced its information technology and accounting systems and also trained staff to ensure the service was easy to use.

Monetary Authority Deputy Chief Executive Arthur Yuen said the service boosts financial inclusion and it will continue discussions with Hongkong Post to help improve banking services for seniors.

Hongkong Post said it will consider expanding the service to additional post offices according to market demand.