BANK ACCOUNT SIGNS WHICH WILL TRIGGER DWP CHECK
Be very careful if you have PayPal.
DWP will take away your money, or do something to your benefits.
- cash
- money in your bank account
- current accounts and digital-only accounts such as PayPal
- savings accounts in a 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 (except 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, such as Child Benefit, Personal Independence Payment (PIP) and Disability Living Allowance (DLA)
- unspent income
Comments
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I try to pay all bills with a credit card.
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List copied from here
All those things count as capital.
If you have under £6k in capital nothing happens.
If you have £6-16k, a deduction of £4.35 for every £250 or part thereof over £6k is made to your UC award.
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The user and all related content has been deleted.3
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very worried
I have saving in a bank account and I am worried that this will go against me. Neither me or my husband can get life assurance, so we have saved to make sure we have money for funerals. Also if anything happens to my husband I workday need to buy a car. If I try to draw the money out I know I would probably be questioned as to what happened to it. The other thing that worries me is that if my husband needs to go into residential care that I would be forced to use the money for that. I am so worried about all the comments about what is going to happen to anyone on PIP. Also how difficult it will be to qualify. I try not to worry but when I read articles referring to this or see comments that people should be forced to work or not get a penny. I have 45 years full national insurance and have worked from the day I left school. Now though I have a number of disabilities and most of which cannot be seen. Like stenosis of the spine, enlarged facet joints, bone spurs on my hips. Along with osteoarthritis, a fibroma on my foot, a prolapsed disc in my neck and a bulging disc in my spine. I am I constant pain and have been prescribed strong medication to try to relieve the pain. I work constantly with the chronic pain clinic to try manage the pain. I wish I didn’t worry like this but all the online articles just make me worse. I cannot claim state pension for another 4 years and it feels like it’s going to be a constant uphill battle until then!
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The user and all related content has been deleted.1
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buy a safe or keep it under the floor boards
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I know its easy to say dont worry hopefully someone can give you advice on here so you have knowledge of how much savings you can have as anxiety will alwaya make it unclear and chaotic im your mind and take one day at a time
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I, myself is very worried.
This makes me feel that this country is very selfish towards every single person with disabilities.
How do I care for myself, and how do I pay for my care?
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Same here, I use it to pay temu, or couple of other sites. I've got no money on it
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Is the 'under the mattress' style of saving not against the rules? I used to do that, have a wee roll of £50s, back when i used to buy second hand ( very second hand) cars.
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collecting armies or cash back??
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No frills, just a very low rate of interest. I doubt you could sign up to such a card now. My credit card from the bank is much steeper.
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Technically that's not against the rules. You can keep cash wherever you like. However, you must still declare any cash you've got outside of any bank account to UC. If you fail to declare the cash under the mattress, that would be against the rules.
For what it's worth, I'm not particularly bothered about this myself. I do have between £6-£16k, and have declared that to UC. I do expect to get reviewed at some point, and if they deem any of my spend to be Deprivation of Capital then so be it, I can't continue to worry about how they'll consider any transaction. I did for the first few months on UC, but not any more.
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Just stick it all in the Bank of Panama - as many MP's etc do………..
What's right for them - must be legal and correct for the rest of us
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When I had a bank review or whatever they're called I mentioned how I always like to keep around £1000 in a safe at home so I can pay for car and house repairs. She was fine with it.
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I had forgotten to mention the £6000 limit. I know it is fine to keep cash at home, as long as i declare when asked.
My parents were keeping a good deal of cash at home, but I told them it was foolish. They had a cheap safe bolted to the concrete floor. Why scrimp on the cost of the safe? At least spend a couple of hundred on a fireproof one!
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