Bank statements to OR monthly?

MTDancer

Does anyone else have to send bank statements to OR monthly? Just feel as if he is watching and criticising everything we do. Don't have anything to hide but how can we put anything aside for presents etc when he scrutinises everything monthly?

dojoman

Never heard of this before, seems a bit OTT, was it a personal or business BR?

now

The only time they normally ask for bank statements is if you are self employed and I thought that was every three months. They acn ask for proof of income ie wages slips but never heard of them asking for monthly personal statements before.

i would ask them why you need to send them in every month

How long have you been BR?

now

As you were only made BR in Jan they might just be making sure what you told them is correct

kepar

Do what we do draw the money out in cash when it goes into the bank and pay everything with cash. Leave enough in for dd's and SO's. That way you can put money into different pots in the house. You then don't have to explain anything. Once the OR has set your allowances, basically you can spend them how you want.

MTDancer

Hubby is self employed but we send them the commission statements each month. Kepar, that's an idea though I can't pay for ebay items with cash! They want surplus every month but as wages are up and down this is frightening as some months we might not earn enough to live in. Surely the surplus could be taken at the end of the year?

southgrange

This is exactly what I do.

kepar wrote: »

Do what we do draw the money out in cash when it goes into the bank and pay everything with cash. Leave enough in for dd's and SO's. That way you can put money into different pots in the house. You then don't have to explain anything. Once the OR has set your allowances, basically you can spend them how you want.

ZBI

I doubt the OR has the time to carefully analyse your statements every month....

It is probably just a standard procedure which is not carried out in most cases - you were perhaps unfortunately appointed with an over zealous OR!

When I went BR - it stated that the OR will require my bank statements for 12 months (and so on and so on) - but my OR did not make any requests as such.

The period during BR can be very daunting! Even if you are honest and have nothing to hide - it can be a little nerve racking. Anyhow all the best I hope things go smoothly for you!

kepar

What are you buying on ebay?

Transfer a regular into your paypal account every month and use that. That way if you don't spend you have extra for other items. I have quite a large sum in mine now, thanks to selling a few odd items here and there. I rarely take any out unless the postage was high and I need to put extra back into my funds.

debtinfo

MTDancer wrote: »

Surely the surplus could be taken at the end of the year?

It's almost as if they would not trust you to save it up to the end of the year?:D

It is not standard procedure, presumably from reading your posts you have said something like "the income changes every month so much that we cant work out an average" to the OR and so the OR says "ok send me the statements every month and we will look at it every month"

MTDancer

kepar wrote: »

What are you buying on ebay?

Transfer a regular into your paypal account every month and use that. That way if you don't spend you have extra for other items. I have quite a large sum in mine now, thanks to selling a few odd items here and there. I rarely take any out unless the postage was high and I need to put extra back into my funds.

Thanks, that IS a good idea. Buy bits of crafting stuff and clothes