UC and bank statments

Hi roadrunner,

They do tend to review your bank statements every year if you have over £6,000 in savings, as this happens with me. They usually ask for 4 months of bank statements, and any other things such as ISA's, Paypal, Bonds etc - that sort of thing. Your money is usually calculated as assessment period to assessment period - and technically you are supposed to report it every month if it differs by £250, as this affects the £4.35 they take from you. If you don't, and it's different when you come to submitting your bank statements the following year, then they'll likely make an adjustment to your UC until this is claimed back - they done this with me. For example, you state you have £6250 and they pay you on that, but a few months you have £6500 left in your account on the assessment period, then for every month, they will deduct the £4.35 back out of this, until it's paid off.
Also, they don't take credit cards into consideration, so if you're having your UC deducted but have CC debt - it would be more beneficial to you to clear off the credit cards from the savings you have. I know this because I lost a hundred pounds from my UC for several months because I didn't do this. Because the CC was interest free, I let it build up, without knowing that DWP don't consider these. You're still allowed to spend your savings, but any large amounts (if it reduces your money) known as a deprivation of capital, you must prove to them what it's been spent on - for example - in September last year, I had a £800 MOT bill, a £900 vets bill and I also had to purcahse a new fridge freezer for £400 because my other had died on me - so it reduced my capital quite a bit.

It can become really complex, so for me personally, I submit my monthly amounts to my UC account, which means that when I come to my yearly review, then it goes a lot smoother and doesnt take months like the first time did, in which also my UC was stopped for 7 weeks! and it really affected my income because my savings were in a fixed rate account that I couldn't touch.

I hope this helps, but if you need further help, just message back with questions and rounded up amounts, and I'll try help guide you what may be best to do.

Chris.

Hi roadrunner,

When they asked for mine, it was for a balance for PP - and then if you have money sitting within the account, they ask to see a transaction list, basically to prove you're not a side hustler. I know people who have under 3 grand in the bank, and they never get asked for statements. I think the roller blinds and paint, you'll be fine with - it's more for large purchases going into the hundreds. I sometimes spend £120 on shopping and it's never asked for. Sometimes you know, it's just down to the luck of who your assessor is. Last year, mine was lovely and went out of her way to help me with an easy process, but 3 years prior, I had someone really awkward who wanted me to get my bank statements stamped at the bank (I had to do this by phone request due to my anxiety of travelling) and then she wanted a copy of my PIP letter due to the the backdated payment I received, and this woman also froze my UC payment for 7 weeks!

Hope this helps - Chris.

Hi roadrunner,

No - not at all, I was only around the £9k mark at the time - however quite a large sum of that was in a fixed bank account that I wasn't allowed to touch, so it left me really short at the time - and I made this known to that person but they weren't the slightest bit interested. After the process, I lodged a complaint against her, but her supervisor backed her and said she done the right thing.

Chris.