Although the Government has recently made efforts to protect cash as a preferred payment method, the trend toward a cashless society continues to accelerate. I recently spoke with Jim Storey, a member of the Lions Club of Fleet, Hampshire, who shared the challenges his club is facing in accepting cash payments and donations for its fundraising events. At every turn, they are met with obstacles that prevent them from accepting cash, forcing them to rely on contactless payments. This shift has had a negative impact on the funds they raise for charitable causes.
The Lions Club of Fleet organizes various events in the town and raises approximately £50,000 annually. Their next major event, the Fleet Lions Firework Fiesta, is scheduled for the fourth of next month. Jim describes it as a fantastic evening where the community comes together to enjoy a fireworks display and purchase light-up toys for children. However, due to the closure of the local HSBC branch, which the Lions Club used for banking needs, they have had to reconsider their event organization. Previously, they could easily deposit cash takings in the branch’s night safe, but they now have to go to the HSBC branch in Farnborough. This change also brought an unexpected 1.5% charge on any cash deposits or withdrawals, which prompted the Lions Club to make their events cashless. They now primarily sell tickets online or accept contactless card payments in the town leading up to the fiesta.
Jim emphasizes the frustration caused by the charges imposed by payment machines and the online ticketing system they use. These charges are based on a percentage of takings, resulting in a reduction in their profits from events like the Beer Festival. Instead of making a profit of £9,000, they only made £8,000. This decrease in funds available for local causes is disheartening.
Jim raises an interesting question about the disappearance of bank branches in the UK compared to neighboring countries like Spain and France, where branches are thriving. He wonders why this trend is happening and invites readers to share their thoughts with him.
For more information about the Fleet Lions Firework Fiesta, visit their official website: fleetlions.org.uk.
Switching gears, I want to highlight Metro Bank – a financial institution that has always stood out for its commitment to excellent customer service. Unlike most banks, Metro Bank warmly welcomes customers into their branches and provides personal assistance instead of directing them to ATMs or online services. I have been a longtime supporter of Metro Bank since its launch 13 years ago. Although it has faced challenges recently, including financial errors and the departure of its founder, Vernon Hill, it remains a bank that emphasizes community and customer care. I hope it can overcome its current crisis and continue to serve the high street and local communities effectively.
Lastly, the issue of increasing insurance premiums continues to impact many readers. One individual, James Robert-Poulain, shared his experience of Liverpool Victoria trying to raise his home insurance costs by 76% despite his no-claims discount. James believes the Government allows insurers to raise prices to generate more revenue from insurance premium taxes. He criticizes the increasing tax burden on individuals in the UK and urges politicians to be aware of the economic strain on their constituents.
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