Dementia Debit Cards: Managing Money for People with Dementia
Dementia is a condition that leads to significant memory loss and difficulties with language, problem-solving and thinking, making everyday activities like managing money more challenging. People living with dementia can struggle with banking and other financial decisions, leaving them vulnerable to financial scams, exploitation and overspending.
Some common issues that occur include unpaid bills, unexplained withdrawals, and donations to unfamiliar organisations. A person with dementia may also experience a decline in their understanding of the value of money, which can lead to them giving away large sums.
A dementia debit card can offer a safe and flexible way for individuals to maintain their financial independence while protecting them from financial harm.
The Sibstar Dementia Bank Card
Sibstar is the only debit card designed for people living with dementia.
Currently, only limited options are available via UK banks for those who need a little extra support with managing their everyday spending but want to maintain their financial independence.
Some banks offer carer’s cards that are designed to allow someone to spend on behalf of the person with dementia. A dementia debit card, such as Sibstar, allows people living with dementia to continue to enjoy their everyday activities.
Sibstar comes with an easy-to-use app that allows caregivers to set spending limits, track transactions in real time, and support those who need a little extra help to manage their finances securely.
With Sibstar, caregivers can ensure their loved ones have access to money without the risk of overspending or falling victim to scams.
Benefits of the Sibstar Debit Card for People with Dementia, their families and caregivers
Peace of mind – Families and caregivers can feel reassured knowing their loved ones are spending safely.
Independence – Allows people with dementia to manage their own money within safe limits.
Reduced stress – Simplifies financial management for both individuals and caregivers.
Key Features of the Sibstar Card and app:
Pre-loaded with funds – Only the money added to the Sibstar card is available to spend, preventing financial loss.
Spend limits – Set daily, monthly, and cashpoint withdrawal limits to manage spending.
Real-time notifications – Caregivers receive instant alerts every time the card is used, helping them monitor transactions and detect unusual activity.
Customisable settings – Turn off online or phone transactions to reduce fraud risks.
Auto top-up – Load money onto the card automatically within set limits, ensuring continuous access to funds.
Freeze and unfreeze feature – Instantly disable the card if it's lost or you notice unusual activity and reactivate it when it’s safe to do so.
How to Protect the Finances of Someone with Dementia
Getting started with Sibstar is simple:
Download the Sibstar app – Available on the Apple App Store and Google Play.
Sign up and verify the details for the cardholder and the supporter – Once the account is verified the Sibstar card will be sent in the post.
Activate and set spending limits – Transfer funds to the card and use the Sibstar app to manage the spending settings.
The Dementia Debit Card From Dragons’ Den
You may have heard of the dementia debit card from Dragons’ Den–Sibstar.
Sibstar was co-founded by Jayne Sibley, who appeared on Dragons' Den with her husband Martin, securing a £125,000 investment from Sara Davies and Deborah Meaden. Jayne’s personal experience caring for her parents with dementia inspired her to create a solution that allows people to retain financial independence while staying protected.
During her emotional pitch, Jayne shared the challenges her family faced when managing money, and how traditional banking solutions didn’t provide the flexibility or security needed. The Dragons recognised the life-changing potential of Sibstar and invested in its future development, helping more families across the UK.
Important Considerations
While a dementia debit card (sometimes referred to as an Alzheimer’s debit card UK) are a valuable tool for safer spending, they are not a one-size-fits-all solution. Caregivers should still monitor transactions closely and report any unusual spending activity immediately.
Additional Resources
Sibstar also provides a range of resources for caregivers, offering guidance on dementia-friendly banking and money management.
With Sibstar, your loved one can spend safely while you enjoy peace of mind knowing their money is protected.
