The Member of the Welsh Parliament for Aberconwy – Janet Finch-Saunders MS – has today urged the Welsh Government to provide further assistance to small community groups, such as churches, who may be encountering issues as a consequence of recent banking procedure changes.
It comes as HSBC has announced that it will charge such small-scale organisations £60 annually to keep their accounts open. The High Street bank has also introduced new charges for branch transactions, including a 0.4 per cent fee to pay in and withdraw cash and a 40p fee to deposit a cheque.
Mrs Finch-Saunders has suggested using the Development Bank of Wales as through which such groups could open and maintain bank accounts.
Speaking after the intervention, Janet said:
“Our charities, voluntary groups and church congregations rely on small bank accounts. After 18 months of real challenge for such groups, it is disheartening to hear that one high street bank will now look to charge these small-scale organisations to keep their accounts open.
“My concern is that other banks will now follow suit by either implementing similar charges or removing local in-branch services altogether. In just the last week, I have received reports that a group in my constituency is keeping their money in a safe as increasing bank account fees have become such a worry.
“Many treasurers of these cherished community groups can be quite elderly and they are now contemplating relinquishing these responsibilities because of the lack of face to face local services and increasingly complicated procedures.
“With this in mind, I have urged the Minister to review what further support can be provided to these small groups, including the possibility of using the Development Bank of Wales as a means through which they can open and maintain bank accounts on an easier basis.”
ENDS
Photo: by Michael Longmire on Unsplash
