Money Management for
Vulnerable Adults
For people who choose to have a bit
of extra help with managing money
Money Management for Vulnerable Adults
Our informal money management services are for vulnerable adults who can choose to have support with managing their everyday finances and would benefit from having a helping hand to undertake these tasks.
This differs from our appointeeship plans, where clients have been assessed as unable to manage their welfare benefit responsibilities. For those clients, the Department of Work and Pensions (DWP) put Money Carer in place to formally take on the legal duties and liabilities of managing a person’s welfare benefit claims and income, undertake reporting duties and apply the Mental Capacity Act (2005) principles where appropriate.
Most clients we support via our informal money management plans wish to have the peace of mind of knowing that their bills are paid on time and that their money and bills are managed in a secure and organised which helps to promote independence.
Getting Started
It is a very simple for clients to access our informal money management support, and the starting point is for our online referral form to be completed by clicking on the button below. When we receive the referral for the client we will then ask for an Ordinary Power of Attorney (OPA) document to be signed and returned to us.
An OPA provides us with the basic authority that we need to be able to get in touch with the clients utility suppliers, landlord, local authority and any other organisations that we will need to speak with to arrange for bills and other information to be sent to Money Carer going forward. The OPA document will also enable us to arrange for the DWP to deposit our clients welfare benefits into the new bank account that we will open on our banking platform in the clients name.
The table below details the service features and costs.
Money Management Plan - £55 Per Month | Included if required |
Individual, FSCS-protected client bank account opened for benefit receipts | Yes |
Money Carer appointeeship security bond put in place to protect client monies* | Yes |
Rent management bank account opened to separate and pay rent | Yes |
Carer shopping funds account and carer cards provided for support workers to make purchases for the client | Yes |
Personal budget account opened and card provided to client for own spending needs | Yes |
Liaise with DWP regarding all welfare benefit matters | Yes |
Undertake indepth benefit entitlement checks for correct benefit payments | Yes |
Liaise with local authority for housing benefit payments and management | Yes |
Liaise with housing association/Landlord for rent payment and management | Yes |
Notify local authority adult social services teams of our involvement for future communications | Yes |
Create a personal spending budget plan for client | Yes |
Provide secure online and smartphone app access to plan for client | Yes |
Provide secure online access to plan for named carers/social workers | Yes |
Allow carers and clients to make secure online money requests | Yes |
Arrange payment of care funding and local authority contribution bills | Yes |
Managing funds from other income streams | Yes |
Arrange emergency or scheduled funds payment via Paypoint vouchers | Yes |
Provide online account access to trusted family members (read-only and subject to access agreement) | Yes |
Money Carer team is available by phone, email, video call, secure messaging | Yes |
Arrange independent social worker visits for complex matters | Yes |
