Kerry gave a presentation introducing the project, which started as a policy passed in the 2014 AGM, designed to support student groups with a bank, to provide financial services.
Kerry reported that they were looking to to send out a survey to gain an insight into how student groups would use it and then trial the new system with a number of societies from each zone with a view for all student groups to transfer to the new system over the summer.
Trini asked if the change would be compulsory. Michael suggested offering an incentive to groups who joined. Kerry said that in order to have a smooth transition, it would require all groups to participate and that there would be many benefits to groups and it would be really important to communicate these benefits effectively.
Sam asked about whether groups would be notified about how SUSU would use their information. Kerry said all that information would be sent out and it would be very important to communicate properly.
Michael asked about how long it would take to return invoices. Kerry said currently the process happens twice a month, but they would gain further insight with the survey and trial as to how regular the process would have to be.
Trini asked about who would have privileges to the account. Kerry said the Committees would choose signatories just like at the moment with bank accounts.
Trini also asked about the £100 withdrawal limit, and how it would be enforced to stop people repeatedly take more money out. Sammi suggested creating an alert to notify someone if they go over the limit in a 24-hour period.
Michael suggested extending the trial period, because a lot of student groups begin to tone down their activities towards the end of the year with and extending the trial would get a better feel as to how the new system would work. Kerry said there would never be a perfect time to trial the system, but it would be good to trial it with the old Committees before bringing it in for the new Committees. Trini said that they could to take into account how functional the trial groups would be during the trial period.
Sam asked about whether groups would get bank cards. Ali said that the system is operated by an ID and PIN number for the SUSU cash machine. Trini asked about whether the pin could be reset if a committee became inactive. Ali said that it could be if it was needed.
Chris asked about the security of the PIN number system. Ali said that there is CCTV in the cash room so they could see who had taken the money out.
Sammi asked about how groups would deal with cash. Kerry said that it would all go through the cash machine.
Michael asked how SUSU would police student groups opening external bank accounts. Kerry said that it would be unlikely that groups would need to open accounts, but it would be difficult to police.
Kerry summed up saying that it was a very exciting project and would be hugely beneficial to student groups.