In attendance: Representing:

Jim Curtois welcomed attendees to the user group.

1. Matters arising from previous meeting

            1a) Banking Fee

JC advised that IP Banking had investigated  alternative ways of recovering the cost of banking services instead of charging a banking fee. However at present the fee basis is the only option that complies with legislation and  the need for transparency: the banking fee will continue to be charged on a quarterly basis.  Helen Day informed the group that the number of queries arising from the banking fee had decreased over the last six months.

            1b) Proposal of payment of gross interest

JC reported that there is an ongoing dialogue with HMRC and CRND. Some changes to the relevant tax regime in 2001 might provide scope for more flexibility, however there is some debate as to where the ISA stands in this context and until there is a consensus on this it will be difficult to change the present position.

            1c) Miscellaneous estate receipts

JC advised that he had liaised with OR Banking concerning the miscellaneous estate receipts that currently appear on the OR cashbooks and informed the group that this is due to the posting codes used. JC to liaise with OR Banking concerning the introduction of new posting codes.

2. Performance

Ron Heppenstall referred the group to the balanced scorecard and explained how the traffic light system works. Zoë Drew requested that any dividend sent in an EXCEL spreadsheet is checked before it is submitted to ensure that any rounding up is correct. Marc Landsman asked about the possibility of sending electronic payment files; a short discussion followed and it was agreed that it would be beneficial. Alison Poppitt to liaise with system developers about electronic payments.

3. Fixed/Floating charges

JC referred the group to a recent Dear IP article and asked the group if they had any questions on the issue. JC explained that under the Leyland Daf ruling the Secretary of State fee is not recoverable from the floating charge fund. The preferential creditors are paid from the floating charge fund but the SoS fee is charged to the main account that may or may not have funds from which the fee could be recovered. JC advised that a change in legislation would be required to overturn  the decision in this case.

4. Cashiers Newsletter

ZD informed the group that IP Banking were producing a cashiers newsletter and invited the group to submit ideas about what they would like to see in it. Alison Williams advised that she would canvass cashiers opinions and report back findings. It was agreed that providing information on recently issued articles would be beneficial to the target reader.

5. OPG

AP advised the group that the move to OPG had gone well on the whole, albeit there had been some minor issues to resolve;  she apologised to anyone who had received a large number of paying in books. AP advised that people are still paying BACS credits direct to the Bank of England therefore reminder letters will be issued shortly. Clare Burton asked if we had provided the Inland Revenue with the change of bank details. AP advised that  providing this information is the responsibility of the IP. AP reminded the group that there are security risks when sending cheques to IP Banking in the post, and requested that they are paid in at a bank. ZD requested that IPs leave 3 working days after paying funds in before sending a cheque requisition form.

6. User Satisfaction Survey

Ron Heppenstall advised that a customer survey had been issued to all IPs covering the following four sections within the Insolvency Service: Insolvency Practitioner Unit, IP Banking, Redundancy Payments Office and IP Policy Section. 1800 surveys were issued and only 37 replies were received. Gareth Limb suggested sending the survey out with the newsletter. RH referred the group to the brief analysis of the results. Due to the low response, further time is being allowed for returns to be made. RH to circulate a detailed analysis of results.

7. Any Other Business

ZD advised that IP Banking are able to print dividends in alphabetical order rather than value order if preferred. ZD requested that the preferred order be stated at the top of the page.

AP informed the group that BANCS on-line has been up and running for 5 years, and asked the group what other on-line services they would like us to offer. The submission of electronic payment requests was brought up again. AP to liase with developers.

AP advised the group that a Swift or IBAN number is required to send a foreign currency transfer abroad.

Shelia Bowles asked about the possibility of operating a foreign currency account on BANCS. AP advised that we are currently unable to open foreign currency accounts.

AP asked the group if they would like the facility to print their own Interest statements from BANCS on-line. A short discussion followed and it was agreed that it would be beneficial.

JC thanked everybody for attending and closed the meeting.