North Wales MS Mark Isherwood questioned the First Minister this week over efforts to ensure communities in North Wales continue to have access to cash.
Questioning him in the Senedd Chamber over the accessibility of ATMs in the region, Mr Isherwood referred to research from Consumers Champion, “Which?” this month which found that one in five people say they would struggle to cope in a cashless society, with those on lower incomes, older people, and people with physical or mental health difficulties being particularly dependent on cash.
He went on to question the First Minister Mark Drakeford about the Welsh Government’s Community Bank for Wales, Banc Cambria, which will aim to provide everyday full retail banking services in communities across Wales, emphasising that this must not impact on the services provided by the Post Office and Credit Unions.
He said:
“Speaking here in 2010, I raised the risk management and capital adequacy requirements and regulations a new Community Bank would have to comply with, which an established Bank or Building Society partner would not. In 2017, I led a debate on banking services here, which called on the Welsh Government to examine the not-for-profit community banking model. I therefore welcomed your subsequent announcement of the Community Bank for Wales, Banc Cambria, in partnership with Monmouthshire Building Society, subject to your repeated assurances that this would not impact on Credit Union services and the Post Office consumer ‘right to cash’ Banking Framework.
“However, at last month's Post Office Senedd event, they were unaware of your Community Bank proposals and how this may impact on them, and Monmouthshire Building Society has told me that it's ‘more important to launch something that's right than to launch it quickly’, that they're still working to address the gap in their provision of a current account, and that their Banc Cambria outlets will not necessarily be Branches.
So, in terms of access to cash, including ATMs, what, therefore, is the current position?”
In his response, the First Minister said:
“I am astonished that the Post Office in Wales had not caught up with the developments of the Community Bank, given that they have been very widely publicised, discussed repeatedly on the floor of this Chamber. Given that this is central to their activity, it is very surprising indeed to find that they appear to have been unsighted on it. And you'd think they would wish to take some responsibility to make sure they were better informed.”
He added:
“The community bank is intended to be an addition to the services that are there already, alongside, but not in competition with, credit unions, post offices and other service providers.”
Speaking after the meeting, Mr Isherwood said:
“For all his protestations, Mark Drakeford and his Ministers have responded to my previous questions regarding this by indicating that they were engaging with the Post Office.”