The Appointeeship Account is a a personal bank account solution designed specifically for people or organisations that have become the appointee, deputy or attorney for an individual that they are managing their welfare benefit and/or other payments for under a DWP appointeeship, Court of Protection Deputyship or hold a Lasting Power of Attorney (LPA). Many Solicitors already access our bank account solution to support individuals that are in their care in respect of financial managment under Court of Protection Deputyship or were the Solicitor acts as LPA to their client for example.
Our bank account service is provided by our own banking partner (APS) as an tailored solution set up exclusively for The Money Carer Foundation and is a fully functioning account opened in either the name of the appointee, deputy or attorney or the person they are supporting.
The account is has comprehensive direct debit and standing order facilities along with the ability to make individual BACS payments. The account also comes with a pre-paid Mastercard that can be used in exactly the same way as any other Mastercard for example online or in retail outlets. The account does not have a credit facility therefore you can never go overdrawn or spend money that is not in the account. All of the funds held in the bank accounts are 100% protected in-line with our banking partners regulatory license authorised by the Financial Conduct Authority (FCA).
A free smart phone App can be downloaded from App Stores such as Google Play in order to manage transactions and payments and monitor balances. The account can be opened by The Money Carer Foundation within 48 hours. The accounts are exactly the same facility that The Money Carer Foundation has used for many years to manage the finances of the thousands of people that we support everyday.
The Appointee Bank Account service is available to the following individuals or organisations:
There are two different cost schedules depending on whether you represent a corporate organisation such as a law firm or care provider or if you are an individual that holds an appointeeship, deputyship or LPA for a vulnerable person. The full breakdown of the fees can be viewed here but essentially the monthly fee we charge for our bank account solution is £7.50 per month for individuals or £9.99 per month for organisations.
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