The Malta Independent 11 August 2022, Thursday

Anti Poverty Forum asks Central Bank to rethink cheque measures

Wednesday, 1 December 2021, 09:45 Last update: about 9 months ago

The Anti Poverty Forum Malta has asked the Central Bank of Malta to reconsider the measure that would not allow cheques of under €20 to be processed.

The Forum wrote a letter to the Central Bank of Malta regarding a directive the latter issued which states that cheques of less than €20 will not be processed by the bank, but will be dishonoured.

"As representative organisation of 17 local NGOs, whose main collective aims are to eradicate poverty and work against social exclusion, this directive will have a direct effect on a minority of our population."

ADVERTISEMENT

This policy is going to negatively impact persons who are not familiar with new technologies related to banking methods, such as internet banking, direct debits, credit transfers, etc. the organisation said. "Persons who are going to be impacted, mostly those in the advanced age strata, but not only, use cheques as their means of effecting payments."

"This directive may have a direct effect on the pricing, and eventually the cost of living, as this action is sending out the message that a cheque of €20 is not worth processing."

"We believe that banks' aim is to be of service to customers. We ask that this measure is reconsidered in view of the needs of all services users. We wish to reiterate the voiced concerns of those who are not technologically versed, and whose banking needs are achieved only by visiting bank branches and interacting with the cashier."


  • don't miss