Where can I find my tiney funding account details?
These can be found in your tiney app in business settings under the Local authority funding section.
How can I update my bank details with my local authority?
If you are in a local authority area that does not work directly with tiney on funding administration and you wish to change the details of the account your funded payments are made to, simply to contact your local funding team. The team may issue you with a form on which to note the new bank account details and these will then be updated in line with the local authority processes.
My local authority won’t allow me to change my bank details, what do I do?
We are aware that a few Local Authorities may not allow childminders to change their bank details. Rest assured changing the bank details over to your unique tiney wallet is not mandatory. You will still be able to offer funded places.
The reason we recommend asking your LA to update your bank details to pay into your wallet is that it increases tiney’s visibility of your funding payments (to ensure you are paid correctly, and the correct tiney fees are charged), and because it is more convenient for you than paying the tiney fees separately. However, it is not mandatory.
Where the funding payments are paid to you directly (i.e. to a personal bank account and not to your tiney wallet), the tiney fee will be charged to your wallet for the applicable funded placements. You can pay these by using your available wallet balance, or by bank transfer.
If your local authority is preventing you changing your bank details, you can reassure them that this is an FCA-regulated account, held in your name. Please see some suggested wording below that you can send them, which may help.
Template to send to LA
Template to send to LA
Dear LA Funding Team,
Please accept this email as confirmation that I would like to update my nominated funding payment account to XX-XX-XX / XXXXXXXX.
The above account is a business account held legally in my name with Modulr FS Limited, an FCA-registered e-money provider. This account is managed by tiney, acting as my authorised billing and payments administrator. The purpose of using this account, which is legally ring-fenced in my name, is to enable tiney to keep track of payments on my behalf, which in turn helps me manage my income, complete my tax returns, and ensure that I’m paid correctly and in full by for the childcare services I provide.
I am comfortable that tiney will always transfer any funds to me in full that are received into this account. I am also comfortable with and fully aware of the hourly rates that are paid by the local authority for the funded hours I provide.
Separately I have a contracted arrangement with tiney that, in return for the services they offer me (which includes payment and billing administration, alongside a broad range of other support services), I pay them a % of my overall income in tiney service fees. For convenience, these fees are paid automatically on receipt of funds, however I am aware that I can opt to pay these separately via invoice if I require.
If you would like help sending this email, or would like tiney to send it on your behalf, please let us know.