Request for bank statements

Ames

I'm totally confused about who has the money, who it belongs to, and who's claiming benefits.

But trying to hide things and not being completely open about the whole mess is just going to make you/her/him/whoever look guilty. Give them the statements and explain what the bond was and who it belonged to.

Hoogle

If i was reviewing your benefit claim saw evidence of 60k going into your account I then write to you asking to see your statements, and then that money is suddenly gone as it was paid in by mistake, No matter how innocent you actually are it rings alarm bells to people reviewing your case. I also know that people use their online statements through a filter and can make it look like that transaction never happened they are not stupid enough to fall for that. If anything they already know about the money hence the sanction, The banks probably notified HMRC of the large deposit which is probably linked to DWP. The only chance you have is to be up front with them, provide the requested information and have a good explanation. Last thing you want is a fraud investigation/conviction if it is a genuine mistake then they will see this, if you give them any reason to doubt you then it is game over.

Diamandis

Not sure I'd believe it if I was being told that the bond had been "accidentally" opened in the sons name and also the 60 grand was also accidentally transferred to him. Good luck to them convincing the DWP of that.

TELLIT01

Just trying to pull together the salient facts of this.

1. 5 or 6 years ago the mother set up a 5 year bond but 'accidentally' put into the son's name but didn't realise.
2. The bond matured and £60k proceeds of the bond was paid to the son's bank account.
3. The money has sat in that account for a period of time because there was no way to transfer it out.

The obvious questions are:- Why was the bond put into the son's name in the first place? It's possible that the mother intended the proceeds of the bond to go to the son eventually but became confused and put his name on it.

Why was the money paid to the son's account on maturity? That can't have been accidental. The only way money can be paid to an account is if those account details were provided either at the time the bond was set up or at a later date.

Why did the money remain in that account? There was no way to transfer it out because they didn't have a cheque book. With my bank it would take a matter of days to obtain a cheque book not a couple of months.

The issues above are amongst those which would be considered when investigating the possibility of fraudulent claims. If the money has been in a fixed term bond which has no facility to access, even with a loss of interest, then it may not be a problem. If the money in the bond had the potential to be accessed at any time in the 5 year period of the bond it is likely to be considered to be capital for the entire period.

Alice_Holt

TELLIT01 wrote: »

Just trying to pull together the salient facts of this.

1. 5 or 6 years ago the mother set up a 5 year bond but 'accidentally' put into the son's name but didn't realise.......
.

......and it appears 'accidentally" put into the son's bank account details on the paperwork so when it matured payment went into the son's account (see post 19).
A detail which has changed since post 1.

Stop_Watch

I smell something fishy, and I’m not talking about the contents of Baldrick’s apple crumble.

NYM

Where did the original sum come from?

newbutold

Regardless of the son never touching the money and the Mum writing a letter stating the money is hers, the DWP will almost certainly class this as his money.

tomtom256

So basically son has £60k that in law as it's in his name and his account, has failed to declare it on a benefit claim?

Oops someones without a paddle when they try and explain this, especially as proof would have been requested buy the bank/building society/fund manager from the outset owing to money laundering laws and with the fact the bond was paid into his account.

Are you sure they are not trying to hide the capital to maintain benefit payments?

Unsureoftheanswer

tomtom256 wrote: »

Are you sure they are not trying to hide the capital to maintain benefit payments?

The mum has never claimed benefits, so she had no reason to hide the capital.