Saturday, 19 August 2017

Council decides to spread its cash

NEW bank accounts are be opened by Benson Parish Council to reduce any risk to its cash supply.

Councillors have agreed that about £150,000 held in an account with the Co-operative Bank should spread out evenly. Chairman Jon Fowler said members would be aware that the bank had been “having a few issues”.

The council agreed to open accounts with Barclays and Lloyds, one a current account and another a deposit account, and place a minimum of £50,000 in each. It also plans to retain its current account with the Co-op.

The bank was rescued last year under a deal with bondholders when it emerged that it faced a £1.5billion black hole.

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