You decide which bills need managing.
With a savings account, you can save those extra pennies to build up a savings pot.
Our Pre-Paid debit card partner gives you easy access to your money.
Here at JTCU we understand that sometimes keeping on top of all your monthly bills can be difficult and can cause stress & worry about the consequences of not making your money last long enough to keep on top of everything. We developed our managed account alongside our members to help give them peace of mind that the important stuff was covered.
A managed account with JTCU simply means that we help manage your money for you on your instruction. This can mean different things for different people such as:
An example of how this could work is John receives £300 Universal Credit on the 1st of each month. John needs to pay his water bill of £15 on the 10th of each month and his Council Tax of £35 on the 20th of each month, but often finds that he struggles saving money each month to cover these bills. With a JTCU managed account, John would have his Universal Credit paid into his JTCU account. We would put aside the £50 needed to cover John's water and Council Tax bills and pay the other £250 into John's bank account for him. We would then pay the bills for John on the dates necessary and John gets peace of mind that the money left is his to spend and that his bills are covered. John can also choose to have some of his Universal Credit put into a savings account to help him build up a savings pot.
Managing your money can be difficult if you don't have access to a bank account in your own name and struggle to find the ID necessary to open an account with high street banks.
Engage are a pre-paid debit card company who work alongside credit unions across the country to help members easily access their money and give them better control on their finances.
Once you've completed the Engage application form and received your Engage card you'll be ready to go! Your benefit or wages payments can be paid into your JTCU account and then you tell us how much you would like loading onto your card and how often.
An example of this could be Nicola gets paid £240 a fortnight from her employers into her JTCU account. Nicola asks that we put £220 each fortnight onto her Engage card and keep £20 in her savings account. Nicola rings us from time to time if she needs to access these savings and we can put some onto her Engage card easily when she asks us to.
The Engage card works like most debit cards. You can use it in any ATM cash machine, use as contactless or chip and pin in stores or use it to make purchases online. As a pre-paid debit card, there is no overdraft facility so there's no need to worrying about overspending.
If you choose to upgrade to the Engage Current account card you also get the ability to set up direct debits on your Engage account.
There are some charges for using the Engage account, such as a monthly admin fee and charges to some transaction types. The full list of fees for the Engage Classic and Current accounts are available below.
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We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority.
FRN 213662 | Registered Credit Union No. 450c
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