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Why is this needed?

A New type of bank account that guarantees standing orders & direct debits

This account was proposed to help people transition to the new once a month universal credit payment. This represents an opportunity and challenge for those that struggle to manager their money. The very people who need to access the 'best price' for gas & electric and other vital services pay top prices because their credit rating is zero. I have shared this idea with John Glen MP who has taken this up with Frank Fields in connection with the great work being done following the Hunger & poverty report (see http://foodpovertyinquiry.org


 To get this account you would need :-

 a regular guaranteed payment in (universal or other benefit) in excess of the clients agreed SO/DD's

It would be vital that there was not any possibility of 'sanctions' being applied to people who signed up for this type of account.  


Once set-up

 The benefit would be


Prepaid meters (with variable monthly costs over the year) could be replaced by DD connected to a standard meter and give the client access to the best deal and the same regular monthly payment.

 No more council tax arrears, rent arrears etc. etc...ALL primary bills paid automatically (a account which would help those how are most vulnerable currently supported by court of protection orders)  

No more bank charges for insufficient funds - bounced payments  


  There would be a lot of detail to work through but for the most vulnerable in society and particular those that suffer addictions this would ensure that they had a roof over their heads, power and heat and no bailiffs knocking at the door.





“There is a belief that credit unions are the answer but I firmly believe that those on low income cannot afford the luxury of credit that reduces that income by paying interest “