Why Managed Bank Accounts Help Vulnerable Adults Stay Independent

Many people think financial support means losing control over your money. At Money Carer, we believe the opposite — with the right support, people gain control.

That’s why our Managed Bank Account service is such a valuable tool for vulnerable adults. It helps clients safely receive and use their money while reducing stress, confusion, and risk.

What Is a Managed Bank Account?

It’s a specialist account designed for people who:

• Have difficulty budgeting or understanding bills

• May be at risk of financial abuse or pressure

• Want independence but need support

Money Carer manages the account on the client’s behalf, ensuring that:

• Rent and priority bills are paid

• A regular allowance is sent to the client via prepaid card or cash

• There’s full transparency and protection for the client

How Does It Promote Inclusion?

Traditional banks often don’t offer the flexibility or safeguards vulnerable adults need. Our accounts are built with:

• Custom spending limits

• Monitoring for unusual activity

• Clear, consistent support

Clients get the freedom to shop, pay for transport, or enjoy a coffee — without worrying about missed bills or running out of money.

It’s not about control. It’s about confidence.

Blog 3: Protecting Vulnerable Adults From Financial Abuse – How Money Carer Acts Early

Financial abuse is one of the most underreported and damaging forms of exploitation — especially for older people and adults with disabilities.

At Money Carer, we don’t just manage money. We actively protect the people we serve.

What Is Financial Abuse?

It happens when someone:

• Pressures or tricks a person into giving them money

• Takes control of their finances without permission

• Uses their money in a way that is not in their best interest

Abusers can be strangers, carers, or even family members.

How We Help

Money Carer puts safeguarding first:

• We monitor all transactions on behalf of our clients

• If something unusual happens, we act quickly

• We use alerts, daily checks, and human oversight to catch risks early

• Our staff are trained to spot warning signs and report concerns

• We work closely with social workers, families, and legal teams

If you’re worried about someone, we can help. Visit moneycarer.org.uk to refer or get advice.