The debit card can be topped up with money from a Santander current account. (Image: Getty)
Santander UK has announced a new partnership to help people manage their everyday spending. Through the partnership with Sibstar – a debit card and app aiming to help people manage everyday spending – the bank said it will be able to refer customers and their families who may need extra support managing their money.
The service is aimed at people including those living with dementia or learning disabilities, people managing a health condition, and those who are generally concerned about scams or overspending.
Sibstar customers pay £4.99 a month along with a one-off set-up fee of £4.99. Santander said customers referred to Sibstar will remain free to decide whether the service is appropriate for their circumstances and whether they wish to sign up. The Sibstar card and app will be provided and managed by Sibstar, rather than Santander. Users can set daily and monthly spending limits, control how and where their card can be used, and receive real-time notifications when transactions take place.
Santander said it will be able to refer customers and their families who may need extra support. (Image: Getty)
After being referred by Santander, a member of Sibstar’s Santander team will contact the customer to help them get set up. The debit card can be topped up with money from a Santander current account.
Graeme Cumming, head of vulnerable customer strategy at Santander UK, said: “For those living with dementia, learning disabilities or other health conditions, keeping on top of your everyday spending can become increasingly challenging.
“Through our new partnership with Sibstar, we’re helping customers who may need extra support, while maintaining their financial independence and giving families greater reassurance that their everyday spending is safe and supported.”
Jayne Sibley, chief executive and founder of Sibstar, which previously appeared on Dragons’ Den, said: “Sibstar was built to support anyone who is financially vulnerable, whether that’s due to a learning disability, dementia, a mental health condition or simply a need for extra reassurance around scams and overspending.”
Entrepreneur and Sibstar investor Sara Davies also said: “I’ve seen first-hand through my own family how much peace of mind a product like this can give, and partnering with a bank like Santander means Jayne and the team can now reach so many more families who need that support.”
Sibstar was founded in 2020 by Jayne Sibley and Marty Orton, and it officially launched its debit card and app in March 2023. The creation of Sibstar came from Ms Sibley’s lived experience of caring for her parents June and Peter, both of whom had dementia. She has previously explained that the idea came to her after she noticed her mother was finding it increasingly difficult to manage her daily spending.
Jayne Sibley, CEO and co-founder of Sibstar, previously told the BBC: “She got very confused with how much to spend, she would spend more on food shopping than me and I’ve got a family of four and it would all go off in the fridge.
“She fell victim to scams over the phone, she would take money out of the cashpoint and give it away three or four times a day. My brother and I eventually made the very difficult decision of taking away access to her own money, which immediately meant taking away her independence.”
Michelle Dyson CB, chief executive at Alzheimer’s Society, said: “Managing money can become increasingly difficult for people living with dementia, leaving them more vulnerable to scams and financial abuse.
“Alzheimer’s Society is proud to have helped Sibstar to bring their innovative idea to life with our Accelerator Programme.
“This is a pioneering product which is shaped by people affected by dementia and supports their independence, safeguards their finances and gives families greater peace of mind.”
