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Small charities threatened by impending bank charges

IoM Bank changes set to come into effect in May

Charities on the Island will meet with government in the next few weeks to discuss impending bank charges.

Last year it was announced that the Isle of Man Bank would bring in monthly charges for account maintenance as well as a rise in fees for using cheques.

Last year it was announced that monthly charges for account maintenance would be brought in as well as a rise in fees for cheques.

An extension on when that would be implemented was negotiated until May this year.

Vice chair of the Council of Voluntary Organisations, David Gawne, says it is a big worry:

But in the House of Keys, Enterprise Minister Alex Allinson said charities should be using the time between now and May to find alternatives:

 

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