Tenants who receive, or are set to receive, Universal Credit and are worried about managing their money can now open a new ‘Tenant Account’.
The account, run by Citysave, allows you to ring fence your rent from your Universal Credit payment and ensures it is paid monthly and directly to Bournville Village Trust (BVT).
Once your rent is paid, the remaining money in your account can be spent using an optional pre-paid Visa card.
The Visa card account allows you to budget and set yourself a limit for the amount you want to spend each month on things like food, gas and electricity.
Arthur Tsang, Head of Housing and Customer Services at BVT, said: “Opening a Tenant Account is a great way of taking the pressure off, especially if you have never managed your rent payments before. It can also help you to better manage your Universal Credit payment.
“The account is approved by the Department for Work and Pensions (DWP) and is completely free to open.”
The account, which is part of a pilot project with Citysave and the Illegal Money Lending Team, is only open to tenants who are currently on or are due to move onto Universal Credit.
To apply for an account you can either visit www.citysave.org.uk/citysave-tenant-account or contact Lisa Sandilands or Stephanie Weaver at BVT on 0300 333 6540 to discuss in more detail.
There is no cost to set up an account and BVT will be contacted to verify your details.