Q&A Regarding the Closing of UWTs Bank Accounts Q1. Why are HSBC closing UWT’s accounts? A. This came as a shock to the charity as it has been banking with HSBC since 2008. At no stage did HSBC show concerns about the charitys accounts. Q2. What specific reason has HSBC given for closing UWT’s accounts? A. The only reason given by HSBC in their official letter is that Ummah Welfare falls “outside of [their] risk appetite”. This, in layperson’s terms, means that UWT is not profitable for HSBC anymore. This is hard to understand as the charity pays the customary bank charges to HSBC like any other business. Moreover, HSBC has never given any discounts on bank charges to UWT as a charity. Q3. Is this what happened in 2008 when Barclays closed UWT’s accounts? A. Yes, the same thing happened in 2008. It is not a coincidence in the charitys opinion. On both occasions it was supporting our brothers and sisters in Gaza at the time. Q4. How long is the notice before the accounts will be closed? A. UWT has been given 2 months, until 22 September 2014, to transfer funds to another account. Q5. Are UWT’s accounts frozen? A. No, the accounts are live and fully accessible during this notice period; and will be beyond that too insha-Allah. Q6. Can I still donate to Ummah Welfare Trust? A. Yes, nothing has changed. Everything remains the same until further notice. (Please note: UWT has been given 2 months to move to another bank.) Bank transfers, online donations, PayPal, cash payments, cheques and paying by card over the phone still remain the same. Q7. Can I still make an international bank transfer? A. Yes, you can continue to donate from outside of the UK. Q8. What happens to my standing order? A. This also continues as normal until further notice. Once there is an an update, donors will be informed. Q9. Will this have an impact on providing aid in Gaza and other countries? A. Ummah Welfare Trust reassures its donors that it will continue to provide aid to all the countries where it is operating currently. This notice from HSBC will not impact on the provision of aid to the poor and needy in all the countries in which work is taking place. Q10. Will it have an effect on 100% donation policy? A. The charity will remain committed to its 100% Donation Policy. That will not change insha-Allah. Q11. When will we be informed about your new bank details? If HSBC do not change their stance, you will be informed in due course of the details of the other account. Please be assured that UWT already has two other bank accounts which it is able to use. Q12. Can I call anyone to get more information about this issue? A. Of course. You can email UWT on [email protected] or call on 01204 661030. UWT is more than happy to assist.
Posted on: Thu, 24 Jul 2014 18:44:29 +0000
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