Helping vulnerable adults access their money faster

The Money Carer Foundation is an award-winning social enterprise that provides secure, money management services to society’s most vulnerable people.

Clients range from older people with memory problems, to individuals with learning difficulties and others who may be struggling with addictions or mental health challenges.

Their purpose-built banking and payments platform, Monika is linked to a smartphone app and is used by thousands of dedicated deputies and attorneys, local authority social workers, busy care providers, loving family members and clients.

The Money Carer Foundation is a national partner of the Department of Work & Pensions (DWP). Their robust infrastructure and scale capabilities actively support many local authorities and care providers struggling with their own social care resource limitations.

Monika – a ‘boutique’ banking platform for deputies and attorneys

Monika is the ground-breaking banking and payments platform from The Money Carer Foundation; it is the engine that has supported the organisation’s 10,000-plus accounts over the last 14 years.

Over 250 leading law firms and more than 100 local authorities use Monika to open FSCS-protected bank accounts instantly, to Court of Protection appointed deputies and DWP appointees.

With over £65 million of client funds under management, Monika has been designed from top to bottom to cater completely to the unique services that professional deputies, attorneys, and corporate appointees provide for their vulnerable clients.

Monika enables solicitors and deputies to be compliant with the SRA’s Client Money Rules and to fully be adherent with OPG Client Account Management Guidance.

Hands-on money management

Money Carer are able to take instruction from deputies and attorneys to access the funds in clients’ bank accounts upon receipt of the relevant certified court orders, security bond and deputy/attorney KYC documentation.

This has been made possible through a direct debit partnership with GoCardless and the integration of the GoCarldess API into Monika.

“Thanks to our unique, high-value, Direct Debit partnership with GoCardless, Deputies and Attorneys can take control of their vulnerable clients’ monies within 7 days. Our clients call it a real game-changer” says Sean Tyrer, CEO, The Money Carer Foundation.

A genuine game changer - convenient, secure and easy to use

“Our new Client Funds Access Service really is a game changer for deputies and attorneys,” says Virag Kis, Money Carer’s Senior Business Development Manager.

“These busy professionals often had to wait many months – and sometimes years - to be able to access the monies in a new client’s bank account.”

“This can mean that care and other vital bills are not paid, which can place clients at potentially very serious risk - and also prevents deputies and attorneys from settling their own costs as well,”  Virag adds.

“The Money Carer Client Funds Access Service changes this entirely, for the benefit of all parties involved.”

Money Carer working in conjunction with GoCardless

“Working with GoCardless is so easy – they are receptive, refreshingly proactive and visionary.” says Money Carer CEO Sean Tyrer.

“As GoCardless evolves its model to embrace open banking technology for instant payments and variable recurring payments, we have some great conversations about what is potentially possible and how we can collaborate to better help our vulnerable clients, both now and in the future.”

“GoCardless has a ‘can-do’ attitude which corresponds with our own; we receive fantastic customer support and my software engineers say that working with their tech team is a dream.”

Picking three words to characterise GoCardless, both Sean and Virag say:  “Convenience, security, and ease of use.”