YES – BRING BACK CHEQUE GUARANTEE CARDS, SAYS SAGA.

DR ROS ALTMANN

DIRECTOR-GENERAL, SAGA.

@SagaRosAltmann

QUOTES.

November 16, 2011.

YES – BRING BACK CHEQUE GUARANTEE CARDS, SAYS SAGA.

Commenting on news that the Payments Council is reviewing the possible reintroduction of the cheque guarantee card, Dr Ros Altmann, Director-General of over-50s group Saga, welcomed the move, saying:

“This would be a fantastic development for several groups of people. Older people do like to use cheques rather than credit or debit cards – many over-50s have lived with cheques for virtually their entire lives, and don’t quite trust electronic methods of moving of money, but, equally, don’t like carrying cash around.  Small businesses or tradesmen also often rely on cheques for payment and would sometimes struggle without the security of a guarantee card.

“Of course, the decision earlier this year to keep cheques as a means of payment was great news, Saga had been calling for this for a long time, but it was never quite as great as it could have been, Without a cheque guarantee card the vast majority of businesses were reluctant – or even refused point blank – to accept cheques as a means of payment.

“Younger generations are far more comfortable with change and innovation – and view electronic movement of money as convenient – but older generations haven’t quite accepted, and often simply don’t understand or have the means to move money in a digital world.

“I sometimes wonder if older people choose not to spend at all rather than use processes they don’t like or understand, so, in a small way, providing them with a way of spending may have positive effects on the economy too.”

Ends

For further information:

Saga Press Office
01303 771529.

www.saga.co.uk

Iain Macauley
im@pressrelations.co.uk
07788 978800

CHEQUE SCRAPPING PLAN BOUNCED – A CREDIT TO COMMON SENSE, SAYS SAGA.

DR ROS ALTMANN
DIRECTOR-GENERAL, SAGA
PRESS RELEASE

 July 13, 2011.

CHEQUE SCRAPPING PLAN BOUNCED – A CREDIT TO COMMON SENSE, SAYS SAGA.

Commenting on news that The Payments Council will not be scrapping cheque books, Dr Ros Altmann, Director-General of over-50s group Saga, said:

"Money in the modern era is easy-come-easy-go; the ceremony of writing a cheque gives importance to a transaction, and reminds people of an era when money was a great deal more scarce, and a great deal more valued.

"This is a fantastic victory for common sense - Saga has daily contact with millions of older people, and we have led or backed every effort to ensure the powers that be know that the cheque is well short of being past it.

“There are millions of older people who have spent far more of their lives in the paper age - using cheques - than in the electronic, paperless, age. Our independent Populus research showed 67% of older people disagreed with the banks’ plans to phase out cheques. Eight per cent – around two million over-50s - said they would not manage at all to pay some of their bills if they did not have cheques.

"As well as being a practical system to which they have become accustomed, older people also feel that cheques give some comfort that there's proof their money is moving around under their control. And if, for instance, they want to send their grandchildren a birthday gift, donate some money to a small charity or pay their plumber, they will be able to continue with the convenience of cheques.

“They are bombarded with warnings about guarding their card details – and not all older people have credit or debit cards - and those warnings have, in their minds, simply underpinned their concerns about handing over card details, and steeled their determination to keep the cheque alive and kicking.

“Abolishing cheques would have made things easier for the banks, but would have made life much harder for their customers. 

 “I’m delighted that the Treasury Select Committee has flexed its muscles on this one and stood up for customers against the strength of the banking sector – it is encouraging to see the banks have backed down and seen common sense too.”

 Ends

Further information:
Dr. Ros Altmann
Director-General, Saga
ros.altmann@saga.co.uk
www.saga.co.uk
07545 504513
Twitter @SagaRosAltmann

Saga Press Office

01303 771529.

Iain Macauley

im@pressrelations.co.uk

07788 978800