Birmingham bank backs the Cash Martyr

PRLog (Press Release) - Apr 23, 2008 -
Birmingham, UK (04/23/2008) Birmingham-based bank Moneyway has backed Ros Fernihough, the ‘cash martyr’, saying that people should never be penalized for managing their money in a way that works well for them.

Moneyway ( http://www.moneyway.co.uk ) , based in Solihull, has more than 40,000 OneBill ( http://www.moneyway.co.uk/products/onebill/ ) customers who entrust the bank to pay their bills for them. They accept cash or cheques from their West Midlands’ customers to cover their accounts, and said that Mrs Fernihough was being penalized for managing her money responsibly.

Mrs Fernihough, a solicitor from Sutton Coldfield, is taking BT to court over the charges the telephone company levies on customers who pay their bills by cash – all 5.5 million of them. They are charged an additional £1.50 a month.

Owen Woodley, sales and marketing director for Moneyway, said: “Millions of people do choose to pay by direct debit, but that doesn’t mean that it’s the best way, or the most convenient, for everyone.

“We are responsible for paying the bills of over 40,000 of our customers. We do that by direct debit, but we don’t expect our customers to transfer the funds to us that way – if they want to give us a cheque each month, or pay by cash each week, then so be it.
“Ultimately, Mrs Fernihough uses the method that best works for her – and has done for more than 40 years – and has been a loyal customer. BT should respect that.”
The Daily Telegraph recently revealed that people who paid their bills in cash were penalized to the tune of around £300 a year.

Mr Woodley said: “That’s a pretty shocking statistic. We work with our customers to ensure they handle their finances in a way that works for them, and we endeavour to secure them savings on household bills and pass those savings on so they can enjoy them.

“This is an important development for this industry – if Mrs Fernihough is successful in her case, it will change processes across the board. BT stand by their charges and are defending the case, so it will be an interesting one to watch.

“She has won a lot of support and we’re backing her in this. All of our services are aimed at helping people manage their finances better and feel secure. Charging someone simply because they prefer to pay bills in a physical sense rather than allowing someone to access their bank account is something that a lot of people think is unfair.

“Providing she pays her bills on time and to the correct value, she shouldn’t accrue any charges as she’s not enjoyed any further services to warrant it,” he added.

The case will be heard at Walsall Magistrates Court next month.