Published On: Mon, Jun 15th, 2020

Martin Lewis Money Saving Expert: Coronavirus warning to elderly and dementia patients

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Martin Lewis was discussing money in the wake of coronavirus with This Morning’s Holly Willoughby and Philip Schofield. He warned that the increase in contactless payments could see an erasure of cash in society.

Martin’s speculation came after TV presenter Philip asked: “Could this be the death of money? Of cash?”

Martin warned he thought it could be, and that this may well have a negative effect on the elderly or those with dementia.

The Money Saving Expert said: “People with on set dementia struggle with PIN numbers and things like that.

“So, there is a place for cash in our society and I think all of those of us who do like the card protection should also be minded that we are disenfranchising some vulnerable people if we try an encourage place to be only card and not cash.”

READ MORE: Martin Lewis reveals the only way to get a refund for domestic flights

Martin revealed that along as shops are not discriminating on account of race, gender or sexuality etc then shops can “take and refuse any payment they want.”

“If they say they want to accept payment in Pokemon cards then that’s perfectly legitimate.”

So shops can refuse your cash.

Martin said: “The reason people get confused is because they hear this thing called legal tender and they go ‘well it’s legal tender, you have to accept legal tender’, but they have totally misunderstood.

“The definition of legal tender, if something is legal tender then it cannot be refused as payment for a court awarded debt.

“That’s all it means. For example Scottish notes are not legal tender anywhere in the UK, but they are legal currency and I would encourage shops keepers to accept them.”

Martin went on to add: “Briitsh bank notes are Royal Mint coins are (legal tender).

“One and two pences are only legal tender to settle a debt up to 20p, to settle as debt over 20p they are not.”

Last week Martin Lewis gave energy advice to those on smart meters. 

He helped a woman whose bills had gone on up after moving to a smart meter.

Martin said: “Something’s wrong, you don’t double the price by getting a smart reader in.

“You need to talk to them and get them to see if everything is working correctly or if there was a problem before to try and understand the issue.

“You can switch provider on prepaying, you are in debt so that will be a problem, and there are savings maybe five to 10 percent, not like the 30 to 40 percent most people could save who are on a normal billed meter.”

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