As the world continues to transition away from using in-person banking methods as the primary form of personal money management, there is a distinct danger of the elder generation getting left behind. 

To help make this transition smoother, it’s important we both spread awareness of the benefits of these platforms and also address some of the barriers to access that millions still face. According to this educational guide produced by Compare the Market, 31% of over-65s aren’t connected to the internet at home – an obvious hurdle to accessing their bank’s online services. For others who have banked in the traditional way their whole lives, security concerns or a lack of safety information may be the foundation for their reluctance.

Either way, there are plenty of things that family members and the banks themselves can do to support senior citizens in making the most of online banking. The guide explores some of the ways in which seniors can find support, and addresses some of the potential misconceptions and reservations people who are unfamiliar with the technology may have about it. 

Millions of seniors still miss out on the many benefits of digital banking, but this doesn’t have to be the case. This informative article is a great resource to refer back to for anyone looking to make the switch to using digital banking, or for those looking to support an elderly family member.

Insurance comparison and finance expert