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Virtual Wallet

A quick and easy way to manage personal budgets.

Overview

What is Virtual Wallet?

Virtual Wallet supports NHS organisations and local authorities to deliver personal health budgets, direct payments, Individual Service Funds (ISFs) and one-off payments and grants. The funding organisation makes one simple payment into the Virtual Wallet central fund and budgets are then allocated to individuals.  The individual is then able to choose, book and buy care, support and products to meet their specific needs.  Virtual Wallet then automatically processes payments to the providers and personal assistants.  

Virtual Wallet also enables robust financial monitoring and complete transparency on budget spend for all parties. It also enables individuals to continue to have choice and control over their care and support, without the hassle of having to make payments themselves or send in receipts.

Features

  • Significant savings

  • Reduced Admin

  • Full auditing of spend

  • Delivering true choice and control

  • Loved by providers

  • Safe and secure

Benefits

  • Personal Health Budgets

    Our Virtual Wallet solution for personal health budgets is built on our experiences in social care and best practices across the globe, and has been tailored to the specific needs of the NHS.  

  • Direct Payments

    Virtual Wallet currently manages approximately £7 million of social care direct payments per month, allowing users to exercise full choice and control over their social care budget, while giving full visibility to local authorities. 

  • Individual Service Fund (ISFs)

    Individual Service Fund Wallet (ISF Wallet) is a solution for ISF provider organisations to manage all the financial elements of a personal budget on behalf of an individual. 

  • Short Breaks

    Using our Virtual Wallet for Short Breaks gives families flexibility, choice and control over how they spend their grant and can reduce administration costs by 65%.