Hi, my name is share0202! Shared my bank account with Niece.Now the DWP want to see bank statements.

share0202
share0202 Online Community Member Posts: 1 Listener
edited September 6 in Benefits and income

Hi, I really need some help. I have a Wise account that my niece has been using. Unfortunately, she got into trouble with her Monzo account, which resulted in a CIFAS marker being placed against her name. This led to all her own bank accounts being closed. To support her, I let her use my Wise account for her day-to-day needs. She manages it herself and uses it to pay bills, rent, and other expenses. I don’t use this account personally—she is completely in charge of it. Now, I’ve been asked to provide four months’ bank statements from all of my accounts, and I’m worried about the Wise account. The balance and the transactions going in and out might raise questions, and I don’t want it to look like that money is mine. Since the Wise account doesn’t appear on a credit report, I was considering not disclosing it—but I’m anxious because I don’t know how to explain that the money has nothing to do with me. This situation has caused me a lot of stress and sleepless nights. I was only trying to help my niece, but now I’m afraid it could cause me problems. Please advise me on what I should do.

Comments

  • Albus_Scope
    Albus_Scope Posts: 10,895 Scope Online Community Coordinator

    Hey there @share0202 and welcome to the community.

    Unfortunately the account will be in your name, so will be judged as your responsibility and your money. You'll need to explain the situation to the DWP asap, not disclosing it could lead to a fraud charge being brought against you. Will any of the money going into the account have her name on it? This could really help argue your case.

    You also risk your Wise account being closed own, as sharing the account with others is a breach of their terms and services. With your niece having a fraud marker against her name, this could put her in a lot of trouble too.

    I know you've only been trying to help your niece, but account sharing, especially with someone who has a CIFAS marker is a serious issue. I'd suggest speaking to someone at Citizens Advice, as they'd be better equipped to deal with this. I really hope you can get this sorted out with no issues. 😊

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