UC Monthly Assessment & PayPal

TimeLord1

If the balance is zero £0.00 for PayPal and just a credit or Debit card I don't think that they're to worried just the balance in the bank.

HillStreetBlues

born_again said:

HillStreetBlues said:

WelshPaul said:

You need to declare it.

https://www.gov.uk/guidance/universal-credit-money-savings-and-investments#what-we-take-into-account

What we take into account

When we assess your entitlement to Universal Credit, we take into account as ‘capital’ the value of all money, savings and investments you own, or you jointly own with someone else. 

The amount of money, savings and investments you (and your partner) have can affect:

• whether you’re eligible for Universal Credit
• how much Universal Credit you receive

All money, savings and investments you have in the UK and abroad are taken into account, including:

• cash
• money in your bank account, including your main bank account
• current accounts and digital-only accounts such as PayPal
• savings accounts: bank, building society, credit union, Help to Save, Post Office and National Savings and Investments (NS&I) accounts
• savings for children in your name
• money that belongs to someone else, but is in your name
• savings for essential building work (unless from a grant or loan)
• savings for medical care
• Individual Savings Accounts (ISAs): cash, stocks and shares, Innovative Finance, Help to Buy, and Lifetime ISAs
• Premium Bonds, dividends, stocks and shares
• cryptoassets
• property you own but do not live in yourself (apart from in certain circumstances)
• property, land and savings abroad
• inheritance payments
• business accounts and assets for businesses that closed over 6 months ago
• money in trust funds, apart from in certain circumstances
• unspent benefits, for example Child Benefit, Personal Independence Payment (PIP) and Disability Living Allowance (DLA)
• unspent income

We do not take your debt into account when we work out your total money, savings and investments.

You have to be careful trusting websites, even Government ones and sadly that is one wrong is in a few places.

The issue is that some people would hold a balance in their PayPal account, thus making it look like they have less funds than they actually have.

On a review of our claim. I had to produce a statement from PP account showing usage over 4 months. Like OP (& as I told DWP) I only have the account to pay for purchases when retailer allows that method of payment.

Legally you don't have to declare any bank account including PP, what you have to declare is capital if over £6k I have many bank accounts the only one DWP know about is the one I get my benefits paid into. My capital has never been over £6k

The other issue I addressed in my second post of this thread.

HillStreetBlues said:

Gaz1986 said:

Thanks for the reply.
I have £10,000 in the bank and have zero balance in PayPal.
So when you say you might as well put it down, does that mean it's not compulsory?

It's not because there is no money in it, but in the checks there are currently doing they do ask if a person has a PP account, then you should declare it.
Do you an income each assessment period? eg UC payments, other benefits, wages, if so that need to be deducted from the £10k to give you your capital. If you got any Cost of Living payments and kept them, they can also be taken of the £10k

If/when I have the check then I will provide the info they require as long it's revenant to my claim.

TimeLord1

It's capital they're interested in. It's a bit like opening  a PayPal account after your on UC if the balance is zero they're not bothered. Declaring an empty account is pointless process really.

Gaz1986

TimeLord1 said:

If the balance is zero £0.00 for PayPal and just a credit or Debit card I don't think that they're to worried just the balance in the bank.

So if I had 2 bank accounts one with over £6000 and the other with zero, I would have to tell them for both?
Wouldn't this apply to PayPal?
They do ask the question how many accounts do you have and then follow it up with how much is the balance.

Muttleythefrog

Gaz1986 said:

TimeLord1 said:

If the balance is zero £0.00 for PayPal and just a credit or Debit card I don't think that they're to worried just the balance in the bank.

So if I had 2 bank accounts one with over £6000 and the other with zero, I would have to tell them for both?
Wouldn't this apply to PayPal?
They do ask the question how many accounts do you have and then follow it up with how much is the balance.

If you're being prompted for them all just declare them all including with zero in. Normally you wouldn't need to detail accounts without capital. But if any concern... just do it.

Ultimately you'll never fall foul of having not declared capital that doesn't exist. Sometimes in reviews they've asked for paypal statements showing zero balances once they knew such existed.

Go with the flow...lol...my own view would be is if you're having to make monthly declarations then just list all your accounts even if balance is zero since you can just copy paste and adjust exactly the same format month to month. You'll never face trouble for over declaring information... and your anxieties can end. I doubt you'll ever find a conclusive post on what is compulsory since I doubt such guidance will officially exist... what is compulsory is giving them information when they ask for it and declaring benefit affecting capital... if that poses ambiguity that can easily be overcome then take that path.

TimeLord1

Gaz1986 said:

TimeLord1 said:

If the balance is zero £0.00 for PayPal and just a credit or Debit card I don't think that they're to worried just the balance in the bank.

So if I had 2 bank accounts one with over £6000 and the other with zero, I would have to tell them for both?
Wouldn't this apply to PayPal?
They do ask the question how many accounts do you have and then follow it up with how much is the balance.

Let's just say you have a PayPal account with just a credit card added to it, no balance. They're not interested in the value of a credit card no matter how much credit you've been given. Same applies with councils they're not interested just where your capital is held. And if you state yes I have PayPal it has nothing in it. My only capital is in my bank only. 

TimeLord1

Also if it's zero balance there's nothing to stop you closing it tomorrow. And opening a new one if you needed it 

Gaz1986

Thank you all for the Info.

TimeLord1

born_again said:

HillStreetBlues said:

WelshPaul said:

You need to declare it.

https://www.gov.uk/guidance/universal-credit-money-savings-and-investments#what-we-take-into-account

What we take into account

When we assess your entitlement to Universal Credit, we take into account as ‘capital’ the value of all money, savings and investments you own, or you jointly own with someone else. 

The amount of money, savings and investments you (and your partner) have can affect:

• whether you’re eligible for Universal Credit
• how much Universal Credit you receive

All money, savings and investments you have in the UK and abroad are taken into account, including:

• cash
• money in your bank account, including your main bank account
• current accounts and digital-only accounts such as PayPal
• savings accounts: bank, building society, credit union, Help to Save, Post Office and National Savings and Investments (NS&I) accounts
• savings for children in your name
• money that belongs to someone else, but is in your name
• savings for essential building work (unless from a grant or loan)
• savings for medical care
• Individual Savings Accounts (ISAs): cash, stocks and shares, Innovative Finance, Help to Buy, and Lifetime ISAs
• Premium Bonds, dividends, stocks and shares
• cryptoassets
• property you own but do not live in yourself (apart from in certain circumstances)
• property, land and savings abroad
• inheritance payments
• business accounts and assets for businesses that closed over 6 months ago
• money in trust funds, apart from in certain circumstances
• unspent benefits, for example Child Benefit, Personal Independence Payment (PIP) and Disability Living Allowance (DLA)
• unspent income

We do not take your debt into account when we work out your total money, savings and investments.

You have to be careful trusting websites, even Government ones and sadly that is one wrong is in a few places.

The issue is that some people would hold a balance in their PayPal account, thus making it look like they have less funds than they actually have.

On a review of our claim. I had to produce a statement from PP account showing usage over 4 months. Like OP (& as I told DWP) I only have the account to pay for purchases when retailer allows that method of payment.

But if it's unused it would not show nothing and not issue a summary because it doesn't detect transactions or balance.

HillStreetBlues

TimeLord1 said:

born_again said:

HillStreetBlues said:

WelshPaul said:

You need to declare it.

https://www.gov.uk/guidance/universal-credit-money-savings-and-investments#what-we-take-into-account

What we take into account

When we assess your entitlement to Universal Credit, we take into account as ‘capital’ the value of all money, savings and investments you own, or you jointly own with someone else. 

The amount of money, savings and investments you (and your partner) have can affect:

• whether you’re eligible for Universal Credit
• how much Universal Credit you receive

All money, savings and investments you have in the UK and abroad are taken into account, including:

• cash
• money in your bank account, including your main bank account
• current accounts and digital-only accounts such as PayPal
• savings accounts: bank, building society, credit union, Help to Save, Post Office and National Savings and Investments (NS&I) accounts
• savings for children in your name
• money that belongs to someone else, but is in your name
• savings for essential building work (unless from a grant or loan)
• savings for medical care
• Individual Savings Accounts (ISAs): cash, stocks and shares, Innovative Finance, Help to Buy, and Lifetime ISAs
• Premium Bonds, dividends, stocks and shares
• cryptoassets
• property you own but do not live in yourself (apart from in certain circumstances)
• property, land and savings abroad
• inheritance payments
• business accounts and assets for businesses that closed over 6 months ago
• money in trust funds, apart from in certain circumstances
• unspent benefits, for example Child Benefit, Personal Independence Payment (PIP) and Disability Living Allowance (DLA)
• unspent income

We do not take your debt into account when we work out your total money, savings and investments.

You have to be careful trusting websites, even Government ones and sadly that is one wrong is in a few places.

The issue is that some people would hold a balance in their PayPal account, thus making it look like they have less funds than they actually have.

On a review of our claim. I had to produce a statement from PP account showing usage over 4 months. Like OP (& as I told DWP) I only have the account to pay for purchases when retailer allows that method of payment.

But if it's unused it would not show nothing and not issue a summary because it doesn't detect transactions or balance.

You can sort between two dates, and if not used will state We couldn't find any transactions