Subject:
"Bank charges refunds- will they affect the benefit?"
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Joanna
Student Adviser, Information and Advice Service,, Union of Brunel Students, Brunel University Member since 28th Jan 2004
Bank charges refunds- will they affect the benefit? Mon 09-Apr-07 12:42 PM
hello guys; I have a question with regards to the bank charges refunded by banks (as a settlement of a complaint NOT as an effect of a court order) and the effect of these settlements on IS/HB. Some of those settlements are quite sizeable but vast majority less then £6000. These are not compensation payments, there are merely refunds. They are paid in one lump sum. Any opinions? Many thank.
Welfare Benefits Officer, Kings Lynn & West Norfolk Borough Council, Kings l Member since 23rd Jan 2004
RE: Bank charges refunds- will they affect the benefit? Wed 11-Apr-07 07:53 AM
Bit like any other rags to riches story - if the money is in your bank account then it's counted as your capital. The only usual exception to that rule is arrears of Benefits paid in a lump sum, which should be ignored for up to 12 months.
Student Adviser, Information and Advice Service,, Union of Brunel Students, Brunel University Member since 28th Jan 2004
RE: Bank charges refunds- will they affect the benefit? Wed 11-Apr-07 02:00 PM
Hi guys; thanks for your replies. I suppose in some cases it may cause a loss of benefit- but such cases would be rare as the amounts I've seen so far are not crossing the threshold but if over £3000 the claimant would need to inform the HB office, am I correct?