{"id":127272,"date":"2026-10-20T08:45:33","date_gmt":"2026-10-20T07:45:33","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=127272"},"modified":"2026-10-20T08:44:49","modified_gmt":"2026-10-20T07:44:49","slug":"dwp-reveals-exactly-what-banks-must-disclose","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/dwp-reveals-exactly-what-banks-must-disclose\/","title":{"rendered":"DWP Reveals Exactly What Banks Must Disclose About Benefit Claimants Under New Powers"},"content":{"rendered":"\n

The guidance follows the introduction of the Public Authorities (Fraud, Error and Recovery) Act, which became law in December. It explains how financial institutions must respond to government requests and what happens when an account <\/strong>is flagged for further examination.<\/p>\n\n\n\n

What Information Banks Must Provide to the DWP<\/strong><\/h2>\n\n\n\n

Under the Eligibility Verification Measure (EVM), banks and other financial institutions must check accounts against eligibility indicators supplied by the DWP. These checks currently cover Universal Credit, Pension Credit and New Style Employment and Support Allowance (ESA).<\/p>\n\n\n\n

According to The Independent<\/a>, financial institutions must disclose specified information when an account receiving a relevant benefit meets one of these indicators. The details include the names of all account holders, account numbers, sort codes and information about linked or joint accounts.<\/p>\n\n\n\n

Banks may also provide information about the amount of money held in relevant accounts and the dates of transactions conducted abroad. Joint accounts can be included even when another account holder does not receive benefits.<\/p>\n\n\n\n

The checks are intended to identify cases where a claimant’s financial circumstances may not meet the conditions attached to their payments. For example, savings exceeding \u00a316,000 generally make someone ineligible for Universal Credit.<\/p>\n\n\n\n

There are limits on what financial institutions can disclose. According to the Daily Record, banks cannot provide full statements, transaction histories, details of purchases or specific locations where money was spent.<\/p>\n\n\n\n

Sensitive personal information<\/strong>, including political opinions and religious beliefs, is also excluded. The DWP<\/a> cannot access online banking accounts or monitor transactions in real time. Financial institutions that fail to comply with an eligibility verification notice may face penalties. They can also be fined <\/strong>for disclosing information prohibited under the measure.<\/p>\n\n\n\n

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The DWP's new bank-checking powers are causing understandable concern.

But can they see your shopping? Your spending history? Every transaction?

No. There are limits to these powers.

They apply to certain means-tested and contributory benefits, not PIP itself.

That doesn't\u2026 pic.twitter.com\/jdngVZnVoy<\/a><\/p>— Wheelie MS Advocate – #PoweredByExperience – \u267f\ufe0f (@WheelieFUMS) October 18, 2026<\/a><\/blockquote>