PRESS RELEASE
February 2023
Following the successful collaboration between ĠEMMA and the Malta Bankers’ Association (MBA) in delivering a financial literacy pilot project for pensioners, that ran last October 2022 at Paola Local Council, further sessions on Digital Financial Literacy for pensioners will commence again as of the 1st of March 2023. The feedback resulting from the initial pilot project gave the organising team a more detailed analysis of the financial challenges faced by older adults. The pilot project also outlined ways that digital technology can alleviate some of these challenges with the impact of low digital capability being seen as a leading cause of financial exclusion and frustration amongst older adults.
The second group of sessions will be held at the General Workers Union building in Valletta during the months of March and April. It is projected that they will continue to be held within various localities through the auspices of the respective Local Councils and also with those voluntary organisations who show interest to run the programme within their communities.
The interactive sessions will be divided into two parts – Money Awareness sessions and specific Online Banking sessions with 3 of the main commercial banks. These sessions will commence on the 1st of March 2023 from 9am until 10.30am. A welcome tea and coffee will be served.
Part 1 – Money Awareness topics:
1. Scams & Fraud
2. Daily Money Management (How to budget and save daily)
3. Different types of cards & Cashless Payments
4. Social Benefits for Pensioners
Part 2 – Specific Online Banking topics:
1.What is digital finance?
2.How to log on to an online banking facility
3.How to carry out money transfers
4.How to pay my bills online
5.How to check my account balance
Those pensioners who have already applied for digital banking facilities with the three banks participating in this programme i.e. HSBC, BOV and APS are encouraged to attend the Part 1 sessions to find out more information about these Online Banking sessions.
Each Online Banking session will comprise a maximum of 10 pensioners.
The Part 1 sessions will be delivered by representatives from HSBC Malta Foundation, ĠEMMA and the Social Services Department.
The Part 2 Online Banking sessions will each be delivered by technical representatives from BOV, HSBC and APS. Representatives from the MBA may also attend these sessions.