The Kent Card Supporting Direct Payments Jean Penney - Project Manager, Independent Living - KCC.

Slides:

Advertisements

Similar presentations

Credit Card Processing 101

Advertisements

TYPES OF BANK ACCOUNTS.

Government Prepaid Card

Pay card Solution-DPS Paperless Payroll

Building Bucks Basic Financial Services. Financial Institutions 3 Main Types – Banks – Credit Unions – Savings and Loan Associations (S&L) Advantages.

Benefits of Banks: Opening and Managing Savings and Checking Accounts Glow Foundation 2010.

There are many different ways of making and receiving payments. MAKING A PAYMENT Cash Cheque Credit cards Debit cards Direct debit Credit transfers.

Exploring Business Unit 3: Personal Finance What if Kids Had all of the money? Part 1: Introduction to Checking Account What if Kids Had all of the money?

Unit 1: Lesson 2.  For many Americans, debit cards are quickly replacing personal checks as a means of making payments. Students should be able to recognize.

Checking Accounts Checking Accounts.

 Also Known as the FED  Known as the “Central Bank” of the United States  Main Function: controlling money supply through monetary policy  Other Functions:

MBA First sem. 1 st Day Project Date 26 Aug Chandu Mevada Cell.No

$$$$$$$ Know your Money! Financial Institutions and Services.

Credit card and Debit card Working and Management.

Chapter 4 Money Management Managing Checking and Savings Accounts –Checking and savings accounts are the foundation of financial asset management –Cash.

Financial Services & Electronic Banking Ch PoB 2011.

Mr. Stasa – Willoughby-Eastlake City Schools ©. Essential Question #8  In your opinion, how has technology improved and/or damaged the banking industry?

Credit Card vs. Debit Card. Debit Cards Also called “check cards” –Works just like writing a check Deducts money from your checking account.

3. 18 Methods of making and receiving payments Methods of making and receiving payments Banks and bank accounts  All businesses have bank accounts.

Objective: analyze the adv./disadv. and differences between credit, debit and prepaid cards Lesson 7.2 Pay Now: Debit Card Pay Later: Credit Cards Pay.

Checking Accounts and Other Bank Services. Purpose of a Checking Account It allows the depositor to pay a stated amount (Check) to a person or business.

Become an ePay Program Payments Expert!

FINANCE Chapter 9 Checking Accounts and Other Banking Services.

Introduction to Glow Online Sessions And The Benefits of Banks: Opening and Managing Savings and Checking Accounts Glow Foundation 2010 Glow Online Curriculum.

Banking: Checking Account What is a Checking Account? An account where money is deposited and kept for day-to-day expenses Also called demand deposit.

Economics Paycheck.

DEBIT CARD, CREDIT CARD & SMART CARD

Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Banking Services and Fees 9.

Bank On It FDIC Money Smart for Young Adults Building: Knowledge, Security, Confidence.

Bank On It FDIC Money Smart for Young Adults Building: Knowledge, Security, Confidence.

Simple Interest And Methods of Payment. * Whenever money is borrowed, the borrower (an individual, organisation or community) pays the lender (a bank.

 CONVENIENT  HELPS YOU KEEP TRACK OF MONEY: USING THE CHECK REGISTER OR ONLINE BANKING  SAVES YOU MONEY – EXPENSES ARE LESS THAN MONEY ORDERS.

Chapter 10 – Cash Control and Banking

Checking Accounts Chapter 9. Basics Check: ▫Written order to bank to pay the amount stated to the person or business named on it. Demand deposit: ▫Money.

DO NOW:  Take packet:  Review the bank statement on page 3 of the packet.  In your notebook: What items does a bank statement include?

Building Bucks Basic Financial Services. Financial Institutions 3 Main Types – Banks – Credit Unions – Savings and Loan Associations (S&L) Advantages.

Kardashian Kard “Take Us With You Everywhere”. What is It? Credit Card/ Debit Card Pre-Paid Both Online (Mobile) and Offline Payments.

Checking Accounts. What is a checking account? A bank account that allows easy access to the funds. You can use your checking account to pay bills. With.

Part 2: Accounts Dollars & Sense. Accounts Offered by Banks & Credit Unions Savings Certificates of Deposits (CD’s) Money Market Checking.

Business Administration term project 2 (25%) financial Management Systems Debit card and credit card payments By Ashleigh Gray.

Banking Math 10 Essentials. Banking Transactions A bank is an financial institution which deals with cash, domestic and foreign, receives and stores deposits.

Checking Account Simulation Understanding Checking Accounts.

2 You Will Know Major types of insured financial institutions Basic banking terms Differences between banks and check-cashing services Bank employees.

BALANCING A CHECKBOOK This lesson will teach you the importance of balancing a checkbook.

Checking Account. Key Terms Check Online and smartphone banking Deposit/credit Automated Teller Machines (ATMs) Debit Overdrawn Balance/reconcile Overdraft.

Section 5.1 Financial Services and Institutions

F INDING F INANCIAL S ERVICES AND T RACKING Y OUR M ONEY.

Execute sales transactions. Sales transactions include: Cash or check Debit card sales Credit card sales Layaway sales On approval sale Cash-on-delivery.

© Family Economics & Financial Education – Revised April 2008– Saving Unit – Managing Your Cash Funded by a grant from Take Charge America, Inc. to the.

GOALS BUSINESS MATH© Thomson/South-WesternLesson 3.2Slide 1 3.2Electronic Banking Record electronic banking transactions Find account balance when banking.

Learning Intentions Explain what an ATM is and the facilities offered Identify the stages of withdrawing cash from an ATM List the advantages and disadvantages.

PaychekPLUS! Elite® Visa® Payroll Card Training ePay Enrollment

What is a Checking Account?  A payment account  Allows easy access to cash via checks, debit card, or online bill pay  Should only hold money that.

Checking & Savings Accounts Economics What is a Checking Account?  Common financial service used by many consumers (a place to keep money)  Funds.

Improve Your Experience ExpressRelease Debit Card.

WSU Travel Charge Card. Training Objectives Explain the program Explain WSU’s use of the card Explain some details about using the card.

1.7.2.G1 © Family Economics & Financial Education – Revised May 2005 – Financial Institutions Unit – Electronic Banking Funded by a grant from Take Charge.

Salient features of facility:  Minimum amount of withdrawal Rs.100/- (thereafter in multiples of Rs.100/- ).  Maximum of Rs.1000/- per day per.

Step 2 – Register a Card To register a UR Card, you can send an to or fill out the registration form at one of our awesome

Checking account – An account held at a bank, credit union, or other financial institution in which account owners deposit funds. Account owners have the.

Checking account - an account held at a bank, credit union or other financial institution in which account owners deposit funds. Account owners have the.

How to Write Checks and Balance Accounts. Checking Account An account at a bank against which checks can be drawn by the account depositor Check – A document.

Managing Money. “CHECKing” Your Money What is the most common tool to manage money? –checking account –Why? Advantages –don’t have to carry large amounts.

UCONN PAYMENT STORE OFFICE OF THE BURSAR. WHAT IS A UCONN PAYMENT STORE? A new payment option for smaller departments to accept credit card payments online.

ELECTRONIC PAYMENT SYSTEM

City of Edinburgh Council – Direct Payments

Chapter 10 Consumer Education.

Bank of America Prepaid Cards

Presentation transcript:

The Kent Card Supporting Direct Payments Jean Penney - Project Manager, Independent Living - KCC

Background Started with a vision about the future of social care and the use of technology Introduction of Direct Payments Barriers to Direct Payments -complex record keeping -auditing of accounts -difficulty opening bank accounts

Future direction of Social Care Your Health, Your Care, Your Say Kent Adult Social Services - Active Lives

Work with the Royal Bank of Scotland Statement of requirements First pre-loaded card for Direct Payments Developing the Kent Card

How does the Kent Card work? Tool to support Direct Payments Commercial Visa Card that carries variable amounts of money Purchase amount debited from available balance

Individuals:- Complete a Kent Card application form with a KCC Officer Top up the card account Make cash withdrawals at ATMs Use telephone and internet banking Receive monthly statements View statements on-line or at ATMs Nominate a secondary cardholder to support them in use of the card

Benefits for individuals Convenient and secure way of receiving funds Reduces dependency Increases choice and control for more individuals Faster and easier access to a separate account Produces an audit trail and reduces bureaucracy

Kent County Council Completes Kent Card application form - including Know Your Customer Checks KCC Administrator processes applications Loads the account with the direct payment Controls spend with blocking facilities - if appropriate Provides 24/7 support from KCC Contact Centre Audits financial management of direct payment on-line

KCC Investment Set-up cost per card - £15 Annual charge - £25 24/7 support line Staffing resources

Benefits to KCC Making Direct Payments more attractive to more people Reduces administration and bureaucracy Uses technology as a means to an end Supporting personalised support agenda

Investment for Providers New Merchant set-up fees - £150 Terminal Rental - approximately £20 per month Card Transaction Charge - approximately 2%

Supporting Providers Until 30th May, KCC are paying the new merchant set up costs For the first year, KCC will pay 1% of the merchant handling charge

Where are we to date? 50 providers accept VISA or are in the process of setting up (31%) 25 stated they are very interested and looking into it further (16%) 51 have requested an information pack - most to be followed up in the next 2 weeks 35 declined or feel it is not currently viable to set up (12%)

Benefits for Providers More people purchasing their own support and seeking easy payment processes Competitive advantage by accepting Visa and the Kent Card Payment within 4 days

On going work Compliance with Financial Services Authority requirements -Know Your Customer Care Management buy-in Client buy-in Take up by providers Paying individuals - i.e personal assistants

Thank you for listening

QUESTIONS? ? ? ? ?