Potential role of Budgeting Accounts for UC Claimants
The DWP has published resarch on the potential for budgeting accounts for Universal Credit claimants
Recently published research from the DWP on the usefulness of budgeting and jam jar accounts for Universal Credit claimants found that more flexible regular payment mechanisms will be needed if there is to be a large scale adoption of banking by those on Universal credit.
Whilst many found the idea of jam jar accounts attractive, the monthly charges that would be levied would prevent their being taken up. Similarly, whilst the new basic bank accounts were attractive, having direct debits at fixed times was a major disincentive.