Option 1: staying as we are - money management service consultation
Consultation closed: 5pm, 12 March 2018
When considering the proposals for our money management service, we considered and evaluated the following options.
What would this mean in practice?
We would need to reduce the number of existing customers to meet the demands and administrative tasks required by the Department of Work and Pensions (DWP).
Cost
From 1 April 2018, any bank charges incurred by us will be passed on to our remaining customers.
Approximate timescales
New customers will continue to be signposted to alternative providers.
Assumptions
There will be alternative providers who are able to meet the demand and complexity of our customers.
Advantages
Remaining customers will continue to receive the service free of charge. However, the incurred bank charges will be forwarded on to customers.
Disadvantages
We would need to reduce the number of existing customers to meet the demands and administrative tasks required by the Department of Work and Pensions (DWP).
We will not be able to accept new referrals and meet the demand for new customers.
If the service cannot take on new referrals, customers unable to manage their finances may need support from care management to access external providers to support or record as an unment need. Both models could be more costly than the proposal of introducing a charge for the service.
Initial assessment of option 1
Staying as we are is not considered to be an acceptable option, as it does not meet the demand or deliver an improved service for existing and future customers.