Termination Of Money Transfer Service Bank Accounts

EDM number 340 in 2013-14, proposed by Barry Gardiner on 02/07/2013.
Categorised under the topics of Financial institutions, Financial services and International development.

That this House notes the concerns expressed by the United Nations Secretary General?s Co-ordinator for Somalia over the termination of bank accounts of money transfer service companies by high street banks, such as Barclays; recognises the importance of remittances by family members in the UK to dependent relatives in some of the poorest countries in the world; and deplores the way in which the banks withdrew from this service which will exacerbate poverty, undermine the work of international aid agencies and result in the closure of many legitimate UK money transfer businesses.

This motion has been signed by a total of 17 MPs.