Best Way To Manage Someone Else's Account?
LocoLoco
Posts: 420 Forumite
Morning everyone, I've had good advice here in the past so I'm hoping someone may be able to help again 
I've recently been made appointee for my son, who is 16 and has learning difficulties (and so isn't considered capable of managing his own money).
I'm in the process of moving his DLA payments into an old account of mine and moving his standing orders and direct debits from my account to his (the account will be used only for his money now but is in my name).
I'm a bit concerned about being accused of (a) mismanaging his money and (b) the effects of money he receives on my means tested benefits.
I was planning to do all banking online and using a payment card so there is always a clear written record of what's gone in and what's gone out (and where it's gone to). He does sometimes receive money from other people (sometimes cash, sometimes cheque, sometimes bank transfer to my account and then I give him the cash or transfer it to his account). He doesn't receive any means tested benefits so extra money won't affect him but I do and I'm a bit worried about money that's meant for him going through an account in my name.
What's the best way to handle this; should I ask people who want to give him money to do a bank transfer directly into his DLA account so that it's clear that the money came from someone else and is intended for him? And then use the payment card when he wants to spend it so that it's clear that it was spent on him and not me? Would it be necessary to get letters from people each time confirming the money isn't for me?
Sorry for all the questions; I've not done this before and things keep popping up that are bothering me. We have a difficult family situation with an (estranged) family member who makes regular allegations against me. I'm always able to prove it's not true but it's very stressful and time consuming to do so so I'm just trying to set things up now to make sure everything is as transparent as possible to try to prevent difficulties from arising.
Many thanks in advance
I've recently been made appointee for my son, who is 16 and has learning difficulties (and so isn't considered capable of managing his own money).
I'm in the process of moving his DLA payments into an old account of mine and moving his standing orders and direct debits from my account to his (the account will be used only for his money now but is in my name).
I'm a bit concerned about being accused of (a) mismanaging his money and (b) the effects of money he receives on my means tested benefits.
I was planning to do all banking online and using a payment card so there is always a clear written record of what's gone in and what's gone out (and where it's gone to). He does sometimes receive money from other people (sometimes cash, sometimes cheque, sometimes bank transfer to my account and then I give him the cash or transfer it to his account). He doesn't receive any means tested benefits so extra money won't affect him but I do and I'm a bit worried about money that's meant for him going through an account in my name.
What's the best way to handle this; should I ask people who want to give him money to do a bank transfer directly into his DLA account so that it's clear that the money came from someone else and is intended for him? And then use the payment card when he wants to spend it so that it's clear that it was spent on him and not me? Would it be necessary to get letters from people each time confirming the money isn't for me?
Sorry for all the questions; I've not done this before and things keep popping up that are bothering me. We have a difficult family situation with an (estranged) family member who makes regular allegations against me. I'm always able to prove it's not true but it's very stressful and time consuming to do so so I'm just trying to set things up now to make sure everything is as transparent as possible to try to prevent difficulties from arising.
Many thanks in advance
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Comments
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As you are now his appointee you should be able to set up a bank account specifically for him. Check with your local branch for the specifics of how to do it. I don't think you will be able to set up an account in his name on-line, but should be able to manage it on-line.0
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I'm my daughters appointee and she receives PIP, no means tested benefits. She has her own bank account in her name but her PIP money is paid into my bank account. I then transfer the whole amount to her when it goes into my bank.Morning everyone, I've had good advice here in the past so I'm hoping someone may be able to help again
I've recently been made appointee for my son, who is 16 and has learning difficulties (and so isn't considered capable of managing his own money).
I'm in the process of moving his DLA payments into an old account of mine and moving his standing orders and direct debits from my account to his (the account will be used only for his money now but is in my name).
I'm a bit concerned about being accused of (a) mismanaging his money and (b) the effects of money he receives on my means tested benefits.
I was planning to do all banking online and using a payment card so there is always a clear written record of what's gone in and what's gone out (and where it's gone to). He does sometimes receive money from other people (sometimes cash, sometimes cheque, sometimes bank transfer to my account and then I give him the cash or transfer it to his account). He doesn't receive any means tested benefits so extra money won't affect him but I do and I'm a bit worried about money that's meant for him going through an account in my name.
What's the best way to handle this; should I ask people who want to give him money to do a bank transfer directly into his DLA account so that it's clear that the money came from someone else and is intended for him? And then use the payment card when he wants to spend it so that it's clear that it was spent on him and not me? Would it be necessary to get letters from people each time confirming the money isn't for me?
Sorry for all the questions; I've not done this before and things keep popping up that are bothering me. We have a difficult family situation with an (estranged) family member who makes regular allegations against me. I'm always able to prove it's not true but it's very stressful and time consuming to do so so I'm just trying to set things up now to make sure everything is as transparent as possible to try to prevent difficulties from arising.
Many thanks in advance
She doesn't have the capacity to manage her own money and can't even count the money she has in her purse. She also doesn't know how much money to give, or what change to receive if any when we are out.
She has a few bills to pay monthly and these are set up to be taken from her bank account. She also has a debit card. I set up online banking for her so that i can manage her money for her. I make sure she has the money available when the bills are due and if she wants to buy herself something she will ask me if she has enough money.
There was a problem with her bank a few weeks ago and they put a partial block on her account. I took her to branch and explained the problem, i also explained that she was unable to manage her money and make calls herself. They were extremely helpful and rang the fraud team to unblock her account on my behalf. I told them that i'm her appointee for benefits purposes.
Even though she doesn't have the capacity to manage her own money or do the things that some take for granted, i still think that she's entitled to have her own bank account, in her own name.
Doing it this way also makes it a lot easier if other people give money to them, especially for those who claim means tested benefits, like myself.
It also makes them feel "grown up" because they have something that belongs to them. Everyone likes to have something that belongs to them and a bank account in their own name should be one of them.
It also takes the worry and stress away from possibly being accused of doing something you haven't in the future. Especially when it comes to means tested benefits.0 -
Thank you, Poppy, that's very interesting because I wanted him to have an account in his own name but was told he couldn't because of his learning difficulties (as in I wouldn't be able to manage the account for him if it was in his name, it had to be in mine). I will have to look into that again, in that case because yes, it would be much easier for people to give him money in his own name than having to put it through an account in my name so I'll have to look into it elsewhere (I assumed they'd all have the same rule when the first one told me no, I'll have to try some others). Thank you for that, I will start checking around a bit 0
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As you are now his appointee you should be able to set up a bank account specifically for him. Check with your local branch for the specifics of how to do it. I don't think you will be able to set up an account in his name on-line, but should be able to manage it on-line.
Thank you, Tellit01, it looks like I have been given bad advice by the bank as this is what I wanted to do but was told I couldn't. I will look into it again, many thanks 0 -
You can still manage it but it would be in his name and not yours. My daughter still has her debit card in her purse but needs assistance to be able to use it when withdrawing money. Online banking was set up by myself and not her. I bank with the same bank she does and they're always extremely helpful and very understanding.Thank you, Poppy, that's very interesting because I wanted him to have an account in his own name but was told he couldn't because of his learning difficulties (as in I wouldn't be able to manage the account for him if it was in his name, it had to be in mine). I will have to look into that again, in that case because yes, it would be much easier for people to give him money in his own name than having to put it through an account in my name so I'll have to look into it elsewhere (I assumed they'd all have the same rule when the first one told me no, I'll have to try some others). Thank you for that, I will start checking around a bit0 -
poppy12345 wrote: »You can still manage it but it would be in his name and not yours. My daughter still has her debit card in her purse but needs assistance to be able to use it when withdrawing money. Online banking was set up by myself and not her. I bank with the same bank she does and they're always extremely helpful and very understanding.
Thank you, I will see what I can sort out, I would much prefer it to be in his name rather than mine, much easier 0
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