Bank Account Solutions For Care Providers 

Bank Account Services

We supply care providers who support adults with learning disabilities, memory problems and other difficulties with a bank accounts service to support their vulnerable clients. This is provided via our bespoke banking platform with our own bank Cashplus. We work with large well known charities and smaller providers throughout the UK.

Cashplus has provided award winning innovative banking services to 1.4 million customers over the last 12 years and is the original 'challenger' bank to the high street banks and has a stated focus to provide banking services for those individuals who are typically 'overlooked' by traditional banks.

Our service is designed for organisations that act as the DWP corporate appointee and who are struggling to find modern and and practical banking facilities given the ongoing withdrawal of community banking services in this sector by high street banks. We can also assist family members who work alongside the care provider and who themselves are the appointee to a loved one or indeed the client themselves if they have the required mental capacity to operate a bank account directly.

A Modern Partnership - A Bank and a Social Enterprise

The Money Carer Foundation developed this service with Cashplus in 2012 to solve the challenges we ourselves were having as an organisation in providing access to shopping money for the carers of our clients.  As it worked so well, and as so many organisations were asking us to, we discussed this with Cashplus and decided to open up our own solution to assist care providers and other organisations that were struggling with the same issues when supporting their own clients.

In recent years the popularity of this service has accelerated due to the lack of appetite from major banks to offer solutions in this sector. In some cases, high street banks have signposted their own clients to our organisation rather than simply being unable to offer any solutions themselves.

Bank Account Features

The accounts provide a fully functioning online banking facility where direct debits and standing orders can be set up along with the ability to make individual BACS payments. The accounts also come 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 they can not go overdrawn and clients of The Money Carer Foundation or partner organisations using our banking services via Cashplus are unable to apply for any credit facilities on our banking platform.

Only the money in the account is available to be spent and all of the funds held in the bank accounts are 100% protected in-line with the regulatory license Cashplus has with the Financial Conduct Authority (Registration Number 671140).

What Does The Service Cost?

The Money Carer Foundation charges a fixed monthly fee of £5 (per service user) to care providers who are the corporate appointee for their clients and wish to access our bank account service. We also charge a one time account opening fee of £10 per bank account opened.

Cashplus charge £35 per bank account per year and this fee is debited directly by Cashplus from each bank account on the aniversay of the date an account was opened. 

So, as an example, if you are a care provider and you are the corporate appointee for a client and you wished to open one account for a client you would be charged an initial fee of £45 to open the account (this is the combination of the £35 account opening fee from the bank plus our £10, one off, administration fee). Thereafter, one year later, Cashplus would debit from the account directly their annual fee of £35. Each month, The Money Carer Foundation simply charge a fee of £5.

Cashplus also charge some additional fees for the operation of the prepaid Mastercard that accompanies the account if it is used. These consist of a cash withdrawal fee from ATM machines of £0.99p and a card replacement fee of £4.95.


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