Concerns were raised in Tynwald over potential barriers to certain people opening a bank account, particularly those with a previous criminal conviction for money laundering.<\/p>\n
Allinson said the island’s Credit Union had been “doing some incredibly good work” with those affected before their release from prison, and alternatives including cheque cashing and physical cash payments would remain available where necessary.<\/p>\n
He said, as the island had 40,000 benefit recipients, there was a “relatively small number of people who require benefits who perhaps don’t have access to a bank account”.<\/p>\n
However, he said a number of options were “still under final negotiation”, including “the involvement of business partners as well as other existing systems to provide cash payments to benefit recipients for those without a bank account”, he said.<\/p>\n
“At least one alternative method of payment will be in place from the beginning of January, tailored for each of those individuals who are unable to receive their benefits via an electronic transfer,” he added.<\/p>\n
“If anyone is using the MiCard system and has not contacted the Social Security Division, I really would urge them to do so as soon possible too, so we can understand their particular needs and meet them as much as possible.”<\/p>\n","protected":false},"excerpt":{"rendered":"Concerns were raised in Tynwald over potential barriers to certain people opening a bank account, particularly those with…\n","protected":false},"author":2,"featured_media":272593,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,56,54,55],"class_list":{"0":"post-272592","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-personal-finance","11":"tag-personalfinance","12":"tag-uk","13":"tag-united-kingdom","14":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/272592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=272592"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/272592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/272593"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=272592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=272592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=272592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}