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Bank Accounts

Banks can offer different ways to support someone to access their money if they need it such as:

  • Allowing different forms of proving identity, if a person does not receive bills in their name
  • Providing easy read formats for letters and information
  • Enabling banking to be in a branch, rather than only offering online or telephone banking
  • Using a chip and signature card if a person has difficulty remembering their PIN number

Banks also offer different types of accounts and can recommend one suitable for your situation:

  • A basic bank account – this enables a limit to be placed on how it is used, for example stopping the young person going overdrawn. A debit or cash card will be supplied and money and cheques can be paid in, plus direct debits and standing orders can be set up
  • A joint account – which allows you and the young person to have some control over the account, but will depend if the young person has capacity to agree to this
  • A savings account – with this account you can put money away that you don’t need and it can earn you a small amount of money in interest
  • A third party mandate – which is where the person gives someone access to their account, and this depends on whether the account holder has mental capacity to do this