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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.