Universal Credit, is an established method by which the government gives you your benefit payments - including Housing Benefit - by depositing money directly into a bank account or credit union account on a monthly basis.
It is important that you have a bank account in order to receive your benefits, and we can help. We are working with a bank to make it easier for customers to open a bank account.
The advantages of having a bank account:
- It makes it more simple to pay bills. Most companies prefer you to pay by Direct Debit
- Your money is safe! How would you feel if you kept money in your house and it was stolen? It is unlikely you would get any of this back. In a bank, it is safe - and banks monitor your account for fraudulent use
It is easier and safer to carry a debit card than cash if you have a large purchase to make
- Most banks offer you Internet and phone banking and text alerts if you are close to going overdrawn
- If you are working, or looking for work, your employer will want to pay your wages into a bank account
- You can pay for things over the Internet such as your weekly food shop - this can help you to budget and give access to good deals
- It can help you to build up a credit history, this will allow you to access products such as contract mobile phones. Banks may allow you to borrow money from them rather than going to companies which charge you high interest
If you are interested in setting up a bank account please get in touch.