FAQs

Frequently Asked Questions about the Monika Banking Platform

Current Account Switching Service – FAQ’s

April 13, 2026

Current Account Switch – A Faster, Smarter Way to Move Client Banking

two women are sat a table in a cafe. they are both looking down at a piece of paper. the woman on the right has a pair of glasses and a phone in front of her. the woman on the left is in a wheelchair.

April 11, 2024

How the 7-Day Current Account Switch Transforms Deputyship Workflows

Trustee Banking – FAQ’s

April 9, 2026

We are Trustees of a Personal Injury Trust. Can we switch our current trust account to the Monika platform?

April 9, 2026

Can we use the Current Account Switch Service for bulk deputy account transfers?

April 9, 2026

How much does setting up a personal injury trust in the UK typically cost?

April 9, 2026

What are the Advantages and Disadvantages of setting up a Personal Injury Trust?

April 9, 2026

What is a Trust?

a man and woman are sat a table outdoors, looking at a laptop. the man is sat in a wheelchair. he is holding a cup and typing on the laptop. they are both looking at the laptop screen and smiling.

April 9, 2026

What is a personal injury trust account?

Deputyship Banking – FAQ’s

a family are sitting on a sofa together indoors. the parents are sat in the middle, the son is on the left, the daughter is on the right. they are all hugging and smiling. the parents are elderly.

April 9, 2026

How To Open an Appointee Bank Account

two women are sat discussing at a table outside. the woman on the left is in a wheelchair. there is a digital tablet propped up on the table, that the woman in the wheelchair is pointing at. both women are looking at each other and smiling.

October 9, 2024

Do the accounts come with a bank card?

October 9, 2023

Can we generate bank statements?

a woman, and a man with down-syndrome are stood in the kitchen baking. they are putting mixture into a muffin tin. both are smiling.

April 9, 2023

Are the bank accounts SRA and OPG compliant?

a young woman and man are sat at a desk in a library. the young woman is in a wheelchair. she is looking through a book and writing in a notebook. the man next to her has headphones on and is typing on a laptop.

February 9, 2023

Can we set up direct debits on the accounts?

a young woman and her mother are sat at a table outdoors. the young woman is in a wheelchair, and has an upper-limb difference. the mother is holding a notebook. they are both looking at the notebook and smiling.

February 9, 2023

Are the bank accounts FSCS protected?

a young woman is kneeling by the side of her elderly grandfather and smiling. they appear to be in a care home. the elderly man is sat at a table playing a game of noughts and crosses.

October 24, 2022

Can we use the Current Account Switch Service for bulk deputy account transfers?

Direct Payments – FAQ’s

October 9, 2025

How quickly can I access and take control of my client’s funds?

Payment Cards – FAQ’s

April 9, 2026

What is a Shared Carers Card?

October 27, 2025

Can carers have a shopping card?

a woman is in a grocery store. she is in focus. she is looking forwards and smiling. in her hand she is holding a purple and pink gradient card with the money carer logo on.

September 9, 2025

What is the Money Carer Card?

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