An entrepreneur from Winchester, whose parents were both diagnosed with dementia, is unveiling a new debit card for people living with the condition, supported by Alzheimer’s Society and Mastercard.

Sibstar is the UK’s first debit card and app designed with the specific functionality to help people in Hampshire and Isle of Wight to safely manage everyday spending.

Jayne Sibley, who’s behind the concept, knew she had to find a solution when her Mum started mis-managing her money as a result of her dementia.

She said: “I first noticed a problem when Mum started spending more on groceries than I did, and I have a family of four. Mum was making countless cashpoint withdrawals, writing cheques to charities and taking out duplicate insurance policies on white goods. She was really vulnerable to online, over the phone and doorstep salespeople and then started giving away cash to homeless people. My mum is a kindhearted, generous lady, but there was no way she could sustain that level of spending and giving.”

Jayne’s mum, June, was diagnosed with Alzheimer’s disease in 2018 and her dad was diagnosed seven years earlier with Alzheimer’s disease and vascular dementia.

The Mastercard debit card is pre-loaded with funds, then how and where the money is spent can be managed through the Sibstar app, which is available on iPhone and Android. Each element of Sibstar’s functionality can be instantly switched on or off, delivering a flexible solution which can be scaled as the needs of individual customers change. 

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Jayne said: “My parents worked really hard for their money and it was really stressful to see it being frittered away. Not least of all, we would need this money to pay for high levels of care later on.

“Mum is a really sociable person and Alzheimer’s has not taken that away. It’s part of who she is and being able to go out to the shops, to the café or pay for a yoga class is her lifeline.”

Over the last nine months, Sibstar has been piloted by 65 people in the UK who are living with dementia, and their families. 

Colin Capper, associate director of evidence and involvement at Alzheimer’s Society said: “Too many people living with dementia face barriers in using financial services, leaving them with a loss of independence and vulnerable to scams. Alzheimer’s Society is working to make the financial sector more dementia-friendly, as well as raise awareness of the challenges involved. We are delighted to have supported Sibstar through our Accelerator Programme, which funds innovations and inventions that we believe can change the lives of people affected by dementia."

There is a £4.99 set-up fee and £4.99 monthly subscription. To find out more, visit: sibstar.co.uk/.