a young man and his mother are sat at a table indoors. the mother, on the left, has an open notebook and a phone in front of her, and a pen in her hand. the young man, on the right, has a laptop open in front of him. they are both looking at the laptop screen. they look concentrated.
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Cards and Managed Bank Accounts - FAQ's

Do I need a Monika account to access money management services?  

You need an account on our Monika platform to access our efficient money management services. We open all accounts in the client’s name, regardless of who manages them. This can help to foster a sense of financial independence and avoid complications.

As with any of our other plans, we ensure the Current Account Switch Guarantee, if you wish to transfer any existing funds or recurring payments over to your new account. You still retain the right to keep money in an existing account, even if you’re using our money management services. However, please note that we do not hold the authority to access these accounts, so only keep funds you do not wish for us to manage there.

Our services are designed to be personalised to the individual, and through discussion with yourself and other relevant parties, we can determine what works best for you. Through our unique banking platorm, we ensure support for vulnerable adults and their support networks alike. We can open accounts for a variety of purposes, including:

  • Appointee Bank Accounts
  • Court of Protection Deputy Accounts
  • Vulnerable Adult Personal Accounts
  • Personal Injury Trust Accounts

To learn more about our bank accounts, please visit the Monika Banking Platform.

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Appointeeship, Deputyship, Power of Attorney, Money Management

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