Data revealed in Tuesday’s House of Keys shows that there has been a decline in MiCard users collecting pensions and social security payments.

Minister for Treasury Alf Cannan responded to Chris Thomas (Douglas Central) via written answer, stating that Isle of Man Post Office is contractually bound to provide MiCard services until December 2022.

The trends of those using either BACS (Bankers’ Automated Clearing System) or MiCard collections showed that in September 2016, there were 7,079 (20.6%) using MiCards and 27,367 (79.4%) who received BACS payments. In September of this year, 31,927 (85.6%) had BACS transfers and 5,360 (14.4%) used MiCards.

This was a decrease from 6,610 (18.4%) MiCard payments in September 2019 and increase in BACS payments from 29,318 (81.6%).

Mr Cannan said that the Treasury has committed to examining whether there might be any alternatives to the MiCard service for anyone who wanted to collect their benefits or pensions in cash.

He also said that previous customers who were paid by cheque or vouchers redeemable at the Post Office had been enrolled for the MiCard service by September 2017.

MiCards are used only in the Post Office to identify someone collecting their benefits or pensions.

The owner can only use the card on collection, but a nominated or proxy person can collect on their behalf. The card enables people to collect their payments weekly and on the date due rather than monthly.