Asked by: Mark Menzies (Independent - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the effectiveness of banking hubs in helping to ensure access to banking facilities in rural communities.
Answered by Bim Afolami
It is important that all customers, wherever they live, should have appropriate access to banking and cash services and the government monitors this situation closely.
Following recent discussions with the UK high street banks, UK Finance confirmed 225 Hubs will be announced by the end of 2024. Participating high street banks have also committed to improving Hubs by standardising the services available between firms, ensuring that customers do not require their own digital device to bank, trialling both a ‘customer liaison service’ and Saturday openings. The banks have agreed to keep services under review to ensure their effectiveness for all customers.
Banking Hubs are recommended by LINK and delivered by Cash Access UK, according to criteria set by industry. The Government does not intervene in these decisions. If a Hub is not available, rural communities can bank via the Post Office, which allows personal and business customers to carry out everyday banking services at 11,500 branches across the UK. The Post Office is also required to ensure that 95% of the total rural population across the UK is within 3 miles of their nearest Post Office.
Asked by: Mark Menzies (Independent - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to continue to support the hospitality and tourism sector in its recovery from the Omicron covid-19 variant and related disruption.
Answered by Helen Whately - Shadow Secretary of State for Work and Pensions
In December 2021 the government announced a £1bn package of support for businesses impacted by the Omicron variant. This included cash grants of up to £6,000 to support eligible businesses in the hospitality and leisure sectors, totaling nearly £700 million, open until the end of March 2022.
This is just the latest action taken, and adds to an already comprehensive package of measures intended to support the recovery of sectors most impacted, including:
It is thanks to the Government’s decisive action to implement balanced and proportionate measures in response to the Omicron variant, that Cabinet has decided to return to Plan A in England. This means the economy will get back to operating freely and businesses, including those in the hospitality and tourism sector, can recover more quickly.
Asked by: Mark Menzies (Independent - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that (a) PayPal and (b) other digital financial services providers have a clearly defined process for next of kin, should a customer pass away, and prevent the withholding of access from next of kin or organisations that the individual was previously involved with.
Answered by John Glen
PayPal currently provides services in the UK through the Temporary Permissions Regime, and is regulated by the Financial Conduct Authority.
The FCA’s handbook rules require payment service providers, which includes banks, payment institutions and electronic money institutions, to send a final response to complaints about rights and obligations arising under the Payment Services and Electronic Money Regulations within 15 business days after the day on which it received the complaint. In exceptional circumstances, such as where the respondent cannot send a final response within this period for reasons beyond the control of the firm, a response must be sent within 35 business days.
If a consumer complains to a relevant financial services firm and is unhappy with the response, they may be able to bring their complaint to the Financial Ombudsman Service (FOS). The FOS provides consumers with a free, independent service that enables the proportionate, prompt and informal resolution of disputes with financial firms
With regards to next of kin procedures for banks, payment institutions, and electronic money institutions, the FCA expects firms to have an effective process for dealing with a deceased customer’s accounts from notification of death to the transfer of funds to those who are entitled to receive them. This process is set out in the FCA’s handbook rules.
Asked by: Mark Menzies (Independent - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to (a) increase accountability among digital financial service providers and (b) ensure that (i) PayPal and (ii) other providers of digital financial services process customers' complaints in a timely manner.
Answered by John Glen
PayPal currently provides services in the UK through the Temporary Permissions Regime, and is regulated by the Financial Conduct Authority.
The FCA’s handbook rules require payment service providers, which includes banks, payment institutions and electronic money institutions, to send a final response to complaints about rights and obligations arising under the Payment Services and Electronic Money Regulations within 15 business days after the day on which it received the complaint. In exceptional circumstances, such as where the respondent cannot send a final response within this period for reasons beyond the control of the firm, a response must be sent within 35 business days.
If a consumer complains to a relevant financial services firm and is unhappy with the response, they may be able to bring their complaint to the Financial Ombudsman Service (FOS). The FOS provides consumers with a free, independent service that enables the proportionate, prompt and informal resolution of disputes with financial firms
With regards to next of kin procedures for banks, payment institutions, and electronic money institutions, the FCA expects firms to have an effective process for dealing with a deceased customer’s accounts from notification of death to the transfer of funds to those who are entitled to receive them. This process is set out in the FCA’s handbook rules.