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Cards and Managed Bank Accounts - FAQ's

How do we enable financial safeguarding?  

Designed specifically with vulnerable adults and their support networks in mind, we ensure financial safeguarding for all of our clients through our Monika platform, no matter how that may look. With features such as the ability to set budgets and access to emergency funding, protecting client finances has never been easier. This includes our dedicated ‘sweep’ system, allowing excess funds to be transferred back into the primary funding account.

Moreover, carers and support workers can receive instant payment notifications via app or by email. Used by hundreds of law-firms, local authorities and care providers, the ability to tailor the process to individual circumstances is a notable benefit of our platform.

We have also developed a system that enables carers to provide this support to our mutual clients. Our specialised Money Carer Card is a helpful means to deliver hands-on financial care for vulnerable adults. Trusted carers can be provided with a dedicated card, topped up regularly with client funds for everyday shopping and transport. Through this, we can ensure financial safeguarding is put in place, while still promoting our clients’ autonomy and independence.

Below are just a few key features of these accounts:

  • Ability to set maximum and minimum account balances.
  • Payment requests made directly from the Money Carer app.
  • Ability to store and upload relevant documentation/receipts.
  • Means to send and receive secure messages in-app.

For more information about our services, please visit the Monika Banking Platform.

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Appointeeship, Deputyship, Power of Attorney, Money Management, Banking, Families, Welfare Benefits

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