Bank Accounts and Prison What Happens 1

Bank Accounts and Prison: What Happens?

Bank Accounts and Prison: What Happens?

What Happens to Your Money When You Go to Jail?

Going to jail is challenging and even more challenging when you think about your money. You might wonder, “What happened to my bank account? How will I pay my bills?” Don’t worry! We’re here to help you understand.

Your Money Stays Put (Most of the Time)

Usually, money stays in your bank account while you’re in jail. But sometimes, things can get tricky.

The Government Might Freeze Your Money

If the police think you got money from doing something illegal, they might freeze your bank account. This means you can’t use your money. It happens if they think you sold drugs or committed other significant crimes.

Your Bank Might Lock Your Account

Banks don’t like it when accounts aren’t used for a long time. If you don’t use your account for months, the bank might lock it up. This is to keep your money safe, but you can’t use it until you talk to the bank.

How to Handle Your Money While in Jail?

You can’t go to the bank or use your phone to pay bills when you’re in jail. So, you need help from someone you trust. Here are some ways to do that:

Ask a Family Member or Friend for Help

You could give your money to someone you trust, like your mom or best friend. They can pay your bills for you. But remember, once you give them your money, it’s up to them to give it back when you get out.

Give Someone Permission to Use Your Account

Instead of giving away your money, you can let someone use your bank account to pay your bills. This is safer because you’re still in charge of your money.

Use a Money Expert

You might want to use a money expert if you have a lot of money. These experts are called trustees. They must follow rules to keep their money safe and use it as they wish.

What About Your Home?

Just because you’re in jail doesn’t mean your rent or mortgage goes away. You still have to pay for where you live.

If You Rent

If you’re only going to jail for a short time, you might want to keep paying rent. But if you’ll be there long, ending your lease is better. This way, you don’t have to keep paying for a place you’re not living in.

If You Own a House

This is harder. If you can, keep paying your mortgage. If you can’t, you might want to rent your house to someone else. Or you could talk to your bank about paying less each month while you’re in jail.

Can You Use Money in Jail?

You can’t use your regular bank account in jail. But most jails have a unique account for you to buy things like snacks or phone calls. Your family can put money in this account for you to use.

Getting Help with Your Money

Going to jail doesn’t make your bills go away. You still need to pay them. But it’s hard to do that from jail. Here are some tips:

  1. Plan if you can.
  2. Try to end your lease if you rent.
  3. Find someone you trust to help with your money.
  4. Talk to a lawyer for advice.

Bank Accounts for People Leaving Jail

When people get out of jail, it can be hard to start over. One big problem is not having a bank account. Without one, getting a job or a place to live is tough.

The Prisoner Banking Programme

There’s a unique program called the Prisoner Banking Programme. It helps people in jail open bank accounts before they leave to have an account ready to use when they get out.

How Does It Work?

  • You can join if you have between 6 weeks and 12 months left in jail.
  • You can open a basic bank account.
  • A jail worker helps you fill out the forms.
  • The bank opens the account for you.

Why It’s Important?

Having a bank account when you leave jail is super helpful. It makes it easier to:

  • Get a job
  • Find a place to live
  • Get money from the government if you need it

Banks That Help

Some big banks are part of this program. Lloyds Banking Group is one of them. They help people open accounts with Halifax or Bank of Scotland.

How Many People Use This Program?

In 2022, over 5,600 people in jail opened bank accounts this way. Lloyds Banking Group helped open about 2,521 of those accounts.

Other Help for People Leaving Jail

When you leave jail, there’s other help too:

  • The government gives money to help you get started.
  • The NHS (that’s the UK’s health service) helps with health problems.
  • You can learn about money at the Lloyds Bank Academy.

Why This Matters?

Having a bank account when you leave jail is significant. It can:

  • Help you get a job
  • Make it less likely you’ll go back to jail
  • Help you take care of your family

Wrap-Up

Money stuff can be confusing, especially if you’re in jail. But there are ways to handle it. The most important things are:

  1. Find someone you trust to help with your money.
  2. Try to keep paying your essential bills.
  3. If you’re leaving jail soon, try to open a bank account before you go.

Remember, everyone makes mistakes. What matters is how you move forward. With the right help and a bank account, you can start fresh when you leave jail.