An online bank account “Age Friendly” easy to manage

An online bank account “Age Friendly” easy to manage

The Age UK charity has recently stated that older people have suffered from the closure of local bank branches and have found it difficult to manage and use an online bank account.

This organisation, which is committed to detect needs and requests of the “over”, has focused its analysis on how much the banks and the financial companies are “Age Friendly”. It has emerged that many elderly people have found themselves without access to basic banking services due to the closure of more than half of all UK bank branches over the last 25 years.

The analysis examined various elements such as the cost of access to online services, the fear of fraud, but especially as the lack of computer skills has been a barrier for the elderly who would need to manage an online bank account on their own. Precisely for this reason the banks themselves have been encouraged to find new ways to provide a service that is simple and suitable for everyone.

Age UK Charity Director, C. Abrahams, says: “Our older customers often share the challenges they face when it comes to managing their money.” Growing dependency on online methods is a barrier to many and bank closures can only exacerbate their feeling of being isolated, but we were relieved to hear that some creative approaches are currently being successfully adopted by many banking institutions towards elderly people. The cases analysed in our research show that paying attention to the needs of the elderly who are not used to technology can lead to new approaches in the financial services sector, and we can certainly make real progress towards meeting the needs of an aging society, which is why we invite all the suppliers in the sector to pay particular attention to the matter. “

The British data seem to go against the current compared to those recorded for Italy by, which shows that the number of elderly who require the opening of an online account is growing strongly. According to these data, from February 2018, requests for over 55s would amount to almost 20% of the total, compared to 18.2% for the same period of the previous year.
The even more significant element is that, compared to 2017, requests for the opening of online accounts by elderly and pensioners increased by 4%.

It is clear that for those who are not particularly familiar with the online procedures it is essential to be informed correctly before choosing where to open an online bank account and make sure that it is a simple service to manage and offers attentive assistance to the needs of everyone. Contact us for more information.