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Third Party and Managed Accounts

What is a Third Party Managed Account?

A third party managed account is another option, which the direct payment support service can offer to help you manage the financial aspect. This could be direct payments, personal or individual budgets. All the funding from an individual’s support plan is received by DAD into an account which is for the sole purpose of your direct payment/funding.

DAD has a separate bank account where money is paid into. Each person has a dedicated fund where money is spent, paid and individually tracked. We enter an agreement with you so that you are fully aware of what you are responsible for and what you are using your funding for i.e. employer.

This option needs to be always agreed with your social worker or funder prior to us proceeding. It is usually only an option for those people where other forms of support to manage their direct payment are not appropriate and have already been explored.

It is important to note that you still have full responsibility for your own personal money. If you choose to employ your own personal assistants, Darlington Association on Disability will not have any involvement in this. It is important that you still remain in control and be responsible for how your support works on a day to day basis.

A managed account means that you can focus on directing how your funding is spent whilst DAD pays the agreed support plan bills from the funding received.

How the direct payment user is involved

Although we are responsible for managing the account you still choose how your direct payment is going to be used to meet your needs. DAD can support you with looking at different options. You can choose bills and invoices to come straight to us for payment or you can choose to get these and forward to us for payment.

What needs to happen to get a managed account?

Once we have worked together to identify if this is the best way forward, we will ask your care manager/funding body to confirm we can do this. We will support you to look to see if you are able to budget this out of your direct payment etc or support you to speak to your social worker. We will also get you or a person on your behalf to sign a consent form to give us permission to open an account. We will not get funds paid into the account until the consent form is signed.

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