Managed Banking
The Local Authority will only make direct payments into a separate bank account that has been specifically opened for the
purpose. Rather than the opening a separate bank account to receive the direct payment funds, Diverse Cymru can do this your
behalf via a managed bank account.
This means that Diverse Cymru will receive the direct payment and can manage the financial arrangements for you, include
dealing with any payroll issues such as payment of PAs’ wages and quarterly payments to HM Revenue and Customs and paying
invoices to agencies and respite centres as well as other payments related to the use of the direct payments.
Managed Banking is a particularly popular option for people who have previously been put off direct payments because they
did not want to have to make and maintain these financial arrangements. Opting for managed banking means there is one less
thing to worry about and allows more time to spend managing the day-to-day arrangements. Importantly, if you choose managed
banking you remain in control of your direct payments, how they are used and making key decisions such as who you employ.