Offline: More than four million pensioners still rely on physical bank branches and phone lines to manage their financesTwo in five over-65s do not use online banking, putting them at high risk of ‘financial exclusion’, research reveals. More than four million pensioners still rely on physical bank branches and phone lines to manage their finances, according to a survey by charity Age UK. But as High Street banks axe branches across the UK, over-65s are at risk of losing access to vital services. A fear of being defrauded by scammers and a general lack of IT skills are the two biggest barriers to online banking. Caroline Abrahams, of Age UK, says: ‘We need to face up to the fact that huge numbers of older people are not banking online.

Source: Daily Mail May 03, 2023 08:51 UTC