Universal Credit - New Savings Account

KCJA1989
KCJA1989 Posts: 64
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edited 18 January at 10:05AM in Benefits & tax credits
Hi all,

Just a quick question. My wife and I opened a new savings account over the weekend and have transferred any savings we have (more than £6,000, considerably less than £16,000) from the old savings account (which we would declare and update on a periodical basis to Universal Credit) to the new one. Do I have to report this "change"? When I tried to report this change as a change of bank account, the only one specified was the account the current account Universal Credit payment is made into, this isn't changing, just a straight swap of savings accounts, all funds transferred from one to another. 

I left a note on the journal for a work coach on Monday explaining the situation, but have had nothing back.

Any advice?

Comments

  • sammyjammy
    sammyjammy Posts: 7,279
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    if your level of savings is the same as declared no need to tell them its in a different account.
    "You've been reading SOS when it's just your clock reading 5:05 "
  • KCJA1989
    KCJA1989 Posts: 64
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    Thanks for the reply.

    So, I assume the best thing to do is to update as normal with the amount and new account number and information.
  • poppy12345
    poppy12345 Posts: 17,707
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    KCJA1989 said:
    Thanks for the reply.

    So, I assume the best thing to do is to update as normal with the amount and new account number and information.

    As advised by sammy, you do not need to report the actual account number. You just need to update your savings as and when needed.
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