Money between 16-18
When you are between 16 and 18 in semi independent care, you are normally entitled to a subsistence amount, this is a weekly allowance that social services give to each young person. This amount is different based on the Local Authority you are with and what amounts Universal Credit are currently giving. Social services can give their young people prepaid cards, which will be topped up directly by the Local Authority. Some councils require the service to give you your money, this can either be through cash or by bank transfer. In some instances, the Local Authority will give you cash and you need to pick it up from a specific place, e.g., your social worker's office. Social Services also cover the cost of accommodation and and your support hours.
Where Do I Get My Money From?
Normally you will be paid either directly by Social Services or sometimes your Social Worker will ask your Mentor or Infinity Alliance management to give you your money on their behalf. Your Social Worker and / or Infinity Alliance staff will give you the information on how exactly this will work at the beginning of your placement and will update you if at any time this changes. If staff need to give you money, you will be asked to sign a receipt for this to record that you received it, you can keep a copy of this.
Do I Need to Pay Rent After 18?
If you move to a stand alone placement after 18 Your rent will generally be covered by your universal credit claim and support you receive will be covered by the local authority. Your accommodation costs covering rent, gas, electricity, water rates and council tax will need to be budgeted for if not included in the rent (for example if the gas and electric are on a metre). If you have additional bills such as a mobile phone contract or pay as you go phone, insurances these would also be paid by you. If you need help with these payments or are unsure if it is going to be affordable, you should speak to your mentor who will support you with budgeting.
Money when you're 18+
Just before you turn 18 you are normally required to sign up to universal credit and housing benefits. Your key worker can help you to fill out this application and support you to go to your appointments. When you turn 18 the Local authority will then expect you to get your money through Universal Credit and not from the social services. This is normally paid directly into your bank account, either weekly or in a monthly lump sum. If you do not have a bank account you can sometimes get a prepaid card, which your social worker, personal advisor or mentor can assist you with doing. Your accommodation costs will also then be covered through the housing benefits portion of your universal credit claim. Support may still be covered by the local Authority.
Do I Need to Pay Rent?
Your rent and accommodation, as well as any support you receive, will be covered by social services. Your accommodation costs cover rent, gas, electricity, water rates and council tax. If you have additional bills such as a mobile phone contract or pay as you go phone, insurances these would be covered by you. If you need help with these payments or are unsure if it is going to be affordable, you should speak to your mentor who will support you with budgeting.
What Am I Expected to Cover the Cost Of?
Before 18 if you are in a semi-independent Placement, we cover the cost of the essentials in the house to get you started. This includes things such as 1 set of sheets, a towel, flannel, soap/shower gel, a toothbrush and toothpaste, a drying rack for your clothes. The house will always be stocked with things such as washing up liquid, cleaning supplies, basic pots pans, plates, and cutlery. We often get soap powder to start you off, but moving forward you would be expected to budget for and buy your own soap powder and laundry detergent. We will support you to budget appropriately for food, water, toiletries and any other things you may additionally need.
What I need to set up a bank account
Banking is an important part of life so to help you set up a new bank or choose one we have broken down what you will need and what you will need to know. Firstly, whenever you are opening a new account you need to ensure that you have a way to prove your identity and your address:
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Make sure you have the documentation: you need to provide a proof of identity and proof of address. Here’s a list of some commonly accepted documents. Keep in mind, each bank may have its own specific requirements.
Proof of identity:
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Full Birth certificate
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Passport
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Driver’s license/ provisional license
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EU identity card
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Biometric Card
Proof of address:
Generally this would be a bill letter or council tax letter but as someone under 18 you likely won't have either of these, a letter from your school, college, or even social services, will be able to act as proof of address.
Choosing a Bank Account
When you choose a bank: You may want to consider the features, benefits, perks, ATM locations, and types of accounts offered by your choice of bank as well as any applicable monthly fees before opening an account.
It is also really important to look at the eligibility requirements, such as the age you need to be to open specific types of accounts.
For example, you usually need to be at least 18 years old to open a current account and some banks may require a parent or guardian to be part of the process of opening a student current account. If you are applying for a joint current account with another person, some banks require both people to be present with their necessary documents.
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Once you have chosen a bank or credit union, visit their local branch or online site to learn more about their application process and to access their application.
BASIC
A Basic Bank Account gives you the features you need for everyday banking, without a monthly fee.
CURRENT
A Current Account is an account that grants you access to a range of different banking services.
PACKAGED
A Packaged Bank Account is a current account that usually comes with extra benefits, in exchange for a monthly fee.
STUDENT
A Student Account is similar to a standard current account, but may come with handy features for people in higher education.
BASIC BANK ACCOUNT
A Basic Bank Account gives you the features you need for everyday banking, without a monthly fee. It’s ideal for those who may not qualify for other kinds of current account.
The basic bank account is the Cash minder. It comes with a debit card and access to online and mobile banking. The Cash minder account has no option to arrange an overdraft facility, no cheque book or monthly fee. You will also have the option to pay through Apple Pay, Google Pay or Samsung Pay.
CURRENT ACCOUNT
A Current Account is an account that grants you access to a range of different banking services. A Current Account is a common option for most people as it often does not have a monthly fee but provides all the features and benefits needed to manage day to day banking.
You can opt to open a current account with most providers, but approval is based on a credit check, an assessment of your personal circumstances and is subject to status. Other criteria, such as age, may apply depending on what provider you choose to open your current account with. Standard current accounts are available with no monthly account fees and most can be managed using online banking and mobile banking apps. Most also offer the option of paying through Apple Pay, Google Pay or Samsung Pay.
With most standard current accounts, there’s an option to apply for an overdraft. Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.
PACKAGED BANK ACCOUNT
A Packaged Bank Account is a current account that usually comes with extra benefits, in exchange for a monthly fee.
For example, The Co-operative Bank’s Everyday Extra Current Account, gives you all the features available with a standard Current Account, but also includes UK and European Breakdown cover, mobile phone insurance and worldwide travel insurance for a £15 monthly fee. As with all types of insurance, limitations and exclusions apply. It’s important that you read the policy documents before applying.
Packaged bank accounts come with the option to apply for an overdraft. Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.
STUDENT CURRENT ACCOUNT
A Student Account is similar to a standard current account, but may come with handy features for people who are in higher education. These could include an interest-free Overdraft, a railcard, gift vouchers or other benefits. Once you have finished higher education, this account is likely to change to a regular current account or a graduate account. A graduate account may have fees attached on overdrafts and usage.
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