A straightforward payment facilitation system that helps you protect your income
Citysave understands the importance to Landlords of protecting their rental payment income. With the introduction of Universal Credit, removing direct payment of housing benefit to Landlords, research is suggesting this may negatively impact Tenants ability to effectively budget and manage rental payments.
This in-turn leads to increased landlord collections risks and costs.
Citysave has developed a product, with input from Landlords, which will enable the landlord to actively reduce these costs and payment risks.
- As a financial institution Citysave is able to receive benefit payments directly from the DWP on the day they are paid.
- We are able to portion off an amount of this payment that matches the value of the rent.
- The rent can be ‘pushed’ out to the landlord via a BACS payment at the end of the month alongside a payment report identifying the payments made.
The Tenant account also offers additional benefits to tenants that allow them to become a part of the wider financial system. As a member of Citysave Credit Union the tenant has access to a savings facility as well as a market leading pre-paid Visa Debit card. This offers chip and PIN, contactless payments and a mobile application which helps them keep track of their remaining money. They can even use an ‘Envelope’ facility built into the card which will enable tenants to budget for other commitments that they may have (Gas, Electric etc).
If you would like to learn more about how Citysave Credit Union Ltd can protect your rental income streams then please call: Sean Lynch on 0121 616 6664 or e-mail email@example.com