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Tuesday, October 18, 2016

MP meets man heading bank closure probe

Clwyd South Member Susan Elan Jones yesterday (Monday) joined a cross-party delegation of MPs who met Sir Russell Griggs, the man conducting the independent review into bank branch closures.

Speaking after the meeting, she said: "Sir Russell's report is expected before the end of the year. At today's meeting, I expressed the anger of my constituents at local bank closures and also suggested some ideas of what I thought needed to happen if a bank branch closed.

"For instance, I shared with the meeting what many businesses in our area told me about the need for a free cash collection service. In my view, this is something banks should provide free of charge, using security companies. There are also issues regarding the ordering of cash that I think need to be looked at carefully.

"I also feel that if a bank closes, the bank should be under an obligation to inform all customers what financial services are available in the vicinity, including if that means advertising Post Office or other competitor services.

"Another issue I raised were the very unique problems facing charities, clubs and any organisation requiring more than one signature on a bank account."

Ms Jones has also arranged meetings with TSB Bank and Tesco Bank via the Industry and Parliament Trust, and is planning to introduce a Bill in Parliament next year on banking protocol in the aftermath of bank closures.

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