× Members

Bank Accounts

More
4 months 3 weeks ago #291055 by Jo JO
Bank Accounts was created by Jo JO
Hi

I am enquiring if your bank account has all benefits paid into this.
You have a savings account with a different bank with 7000. Left by a family member.
Can this be checked?
Do they do a random bank account check from credit scorers?

Please Log in or Create an account to join the conversation.

More
4 months 3 weeks ago #291069 by Gordon
Replied by Gordon on topic Bank Accounts
J

HMRC receives data from all banks in regard to interest paid and they then provide reports to the DWP.

If you do have a bank account with £7000 in it and you are receiving a means tested benefits such as UC, ESA(IR), or IS then you need to report this to the DWP as you have savings and assets in excess of the £6000 limit and there should be deductions from your payments.

if your total assets and savings exceed £16,000 then your entitlement to these means tested benefit ceases.

In both cases, you may have accrued a recoverable overpayment.

Gordon

Nothing on this board constitutes legal advice - always consult a professional about specific problems

Please Log in or Create an account to join the conversation.

Moderators: GordonGaryBISCatherineWendyKellygreekqueenpeterKatherineSuper UserChrisDavid