Author: Age Cymru
Published on 30 June 2011 02:00 PM
Responding to the news that millions of people will be unable to pay by cheque in shops from tomorrow when cheque guarantee cards are axed by the banks, Victoria Lloyd, Age Cymru’s Director of Influencing and Programme Development says:
“The demise of the cheque guarantee card means that there will be even fewer places accepting cheques from tomorrow and older people are more likely to revert to paying by cash which brings its own problems.
“UK-wide one in five older people are already using other people to draw out cash for them and this will leave some of them with no option but to hand over their PIN numbers and cash cards to others, going against the guidance given by banks.
“Age Cymru is very concerned that the withdrawing of cheque guarantee cards in this manner will potentially expose many older people to financial abuse.”