The dangers associated with mixing client funds as a Care Organisation are a very real concern. From fraud accusations to improper fund allocation – merging all funds into one central bank account leads to a plethora of issues for your organisation. With consumer fraud increasing by 19% in 2024 alone, care clients and staff alike are looking for secure solutions to protect themselves and their families.

Ensuring your organisation avoids mixing client funds can be a daunting and overwhelming task. When starting a care organisation, your primary interest is in the care of your clients, not managing their finances! To see if our webinar on the subject resonates with your daily financial experience, does this scenario sound familiar?

“If you have money paid into your care business’ bank account from more than one source, for more than one person, you’ve essentially got mixed funds. So you might have a home that’s got 10 people with learning disabilities, we’re seeing those [clients’ funds] all come into one business bank account.

We also quite often see, when it comes to 10-resident spending money, a tin with 10 envelopes in, with 10 lots of cash. It’s not very well managed.”

Aidan McAllister – Speaking during the Cleva webinar

Mixing Client Funds: The Dangers And Solutions

During the live webinar itself, over half of the attendees stated that they don’t currently use a client fund management platform. This is a concerning figure for residents, staff and organisations alike – needlessly putting funds at risk.

Cleva is here to help raise awareness regarding the dangers of mixing client funds, and the tools your organisation can utilise in order to prevent this. To start the conversation, Cleva recently held its first-ever live webinar, focussing on the following critical topics for every care organisation. Learn more about the risks of mixing client funds, best practices for financial integrity, and discover valuable tools to achieve compliance.

Click here or on the image below to be directed to the recording of our webinar.

We were fortunate to have a distinguished panel of speakers from across the care sector, including speakers from Virgin Money and Enable & Thrive Ltd.

The presentations were insightful and engaging, sparking a lively discussion among the attendees. The Q&A session was particularly fruitful, allowing participants to delve deeper into specific concerns and gain practical advice from our expert panel.

We would like to express our sincere gratitude to our speakers for sharing their valuable knowledge and experience. We are also grateful to all of the attendees who joined us for this important discussion.

If you missed the webinar or would like to revisit the content, it is available to watch here.

Stay Connected with Cleva

Be sure to follow Cleva on LinkedIn (www.linkedin.com/company/clevacard) to stay up-to-date on all our latest news and events.

For any further enquiries, or any questions you have regarding the topic, please feel free to email us via aidan@clevacard.com.

We look forward to seeing you at our next webinar! What discussion would you like to see next time? Let us know via our Linkedin post on the subject.