Digital Banking for Older Adults: A Practical Guide

The physical landscape of UK banking has changed dramatically in the past decade. More than 5,000 bank and building society branches have closed since 2015 — leaving only a few thousand still operating. For the millions of older adults who built their banking habits around visiting a local branch, this contraction has been disruptive — and sometimes distressing.

At the same time, digital banking has improved significantly. Modern banking apps are genuinely easy to use for most common tasks, and the security measures protecting digital accounts have strengthened considerably. This guide is intended for older adults who are making — or who need to make — the transition to digital banking, and for their family members who are helping them do so.

It is honest about both the advantages of digital banking and the genuine challenges it poses.

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Understanding the Branch Closure Context

The UK's major banks — Lloyds, Barclays, HSBC, NatWest — have each closed hundreds of branches in the past decade. The decisions are commercially driven: branch footfall has fallen sharply as younger customers have adopted digital channels, making many branches uneconomical to operate.

The impact falls disproportionately on older adults, those in rural areas, and those who are less comfortable with technology — in short, those who most need face-to-face banking.

What is being done about it: The banking industry, working with the Financial Conduct Authority, has committed to assessments of the impact of branch closures before they occur, and to providing alternatives. The main alternative being developed is the Banking Hub.

Banking Hubs: A Banking Hub is a shared facility — operated by Cash Access UK, a non-profit company — where customers of multiple banks can carry out their routine banking under one roof. Community Bankers from each participating bank attend on a rota basis, so a Lloyds customer can speak to a Lloyds representative on the relevant day, and a NatWest customer on another day. As of 2026, more than 200 Banking Hubs had opened across the UK (with a government target of 350 by the end of the Parliament), with more planned in communities that have lost their final bank branch.

The Post Office alternative: For cash withdrawals, deposits, and balance enquiries, the Post Office remains a key resource. Most major UK bank customers can use any Post Office branch to: deposit cash; withdraw cash (over the counter, using a debit card); check their account balance. The Post Office network remains far more extensive than the remaining bank branch network. For many routine tasks, it is a practical and accessible alternative.

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Banking Without Visiting a Branch: The Telephone Option

All major UK banks continue to offer telephone banking, though some have reduced hours in recent years. For older adults who are not comfortable with apps or the internet, telephone banking remains a viable option for:

• Checking your balance
• Making transfers to payees you have already registered
• Reporting a lost or stolen card
• Querying a transaction
• Setting up or cancelling standing orders

Getting through the automated system: Bank telephone systems use Interactive Voice Response (IVR) systems — automated menus that ask you to "press 1 for this, press 2 for that". These systems can be frustrating, particularly when your query does not fit neatly into any of the offered categories. In most cases, staying on the line without pressing anything, or pressing "0", will eventually route you to a human operator. Some banks provide a direct "speak to a person" option earlier in the menu for elderly or vulnerable customers.

Security questions for telephone banking: You will be asked security questions (memorable word, date of birth, account number) before any account information is shared. Never share these with anyone who calls you — legitimate banks call outbound but will not object if you hang up and call the number on the back of your card to verify the call's authenticity.

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Internet Banking on a Computer

For those with a desktop computer or laptop, internet banking accessed through a web browser is often easier than a smartphone app — the screen is larger, the text is bigger, and the keyboard is more familiar.

Getting started: Go directly to your bank's website by typing the address into the browser (for example, www.lloydsbank.com). Do not click links in emails to access your banking — even if the email appears to be from your bank. Phishing emails are designed to look identical to legitimate bank communications and direct you to fake websites.

First-time setup: You will need to register for online banking if you have not done so. This typically involves: confirming your identity using your account number, sort code, and card details; creating a username and password; setting up a security phrase; and registering your mobile phone number for two-factor authentication codes.

Two-factor authentication (2FA): Most banks now require a second layer of verification for online banking access — typically a one-time code sent by text message to your registered mobile phone number, or generated by an authentication app. This is an important security measure. When you log in from a new device, the bank sends this code to verify it is really you. This code should be kept private — legitimate banks will never ask you to share it with anyone.

What you can do online: Check balances and transactions; make payments (including to new payees, though new payee setup may require additional security steps); view and download statements; set up standing orders; manage direct debits; apply for additional products.

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Mobile App Banking

For those with a smartphone — and increasing numbers of older adults do have smartphones — banking apps offer a more streamlined experience than the full website.

Why apps can be easier than websites: Apps are designed for a touchscreen and tend to be simpler and more visually intuitive than the desktop website. The main tasks — checking your balance, reviewing recent transactions, making a payment — are typically one or two taps away.

Accessibility features: Most banking apps support the accessibility features built into iOS and Android:

• Large text: In your phone's Settings, you can increase the text size across all apps.
• High contrast: Increased contrast makes text easier to read.
• FaceID or fingerprint login: Avoids the need to type a password on every login. Available on most modern smartphones.
• VoiceOver (iOS) / TalkBack (Android): Screen readers that read out interface elements for those with visual impairments.

The best-rated banking apps for ease of use: Barclays, Lloyds, and Nationwide have all received recognition for accessible design. Monzo and Starling (digital-only banks) have very clean, simple interfaces, though they lack phone or branch support.

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Staying Safe When Banking Digitally

Digital banking security is a legitimate concern, and older adults are disproportionately targeted by fraudsters. The following principles will protect you in almost all circumstances:

Never share your PIN, password, or one-time passcode with anyone. Your bank will never ask for these. HMRC will never ask for these. The police will never ask for these. Anyone who asks for your banking credentials is a fraudster.

Never allow anyone to remotely access your computer or phone in response to an unsolicited contact. Fraudsters call claiming to be from your bank, BT, Microsoft, or the police, and ask to install remote access software (such as TeamViewer or AnyDesk). With remote access, they can see and control your banking. Hang up immediately if anyone asks for this.

Verify by calling back on a known number. If you receive a call that may be from your bank and you are uncertain whether it is genuine, hang up and call the number on the back of your debit card. Banks are accustomed to this and will not be offended.

Review your statements regularly. Checking your bank account monthly — even just scrolling through transactions on the app — allows you to spot any unfamiliar transactions quickly. Most banks allow you to flag a transaction as suspicious directly within the app.

The safe account scam: The most common fraud targeting older adults involves a caller who claims your account has been compromised and instructs you to urgently transfer your money to a "safe account". There is no such thing as a safe account. Your bank will never instruct you to do this. Hang up and call your bank on the number printed on your card.

PSR reimbursement: From October 2024, the UK Payment Systems Regulator (PSR) requires banks to reimburse victims of authorised push payment (APP) fraud in most cases, up to £85,000. If you have been a victim, report it to your bank immediately and contact Action Fraud (actionfraud.police.uk or 0300 123 2040).

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Helping a Relative with Their Banking

For those helping an elderly relative manage their banking, a few practical considerations:

Third-party access: Most banks offer a third-party access facility that allows a named individual to manage banking on behalf of the account holder, without requiring full power of attorney. This is suitable for helping with routine tasks.

Lasting Power of Attorney (LPA): If a relative is losing mental capacity, a Lasting Power of Attorney for property and financial affairs is the appropriate legal instrument. The LPA must be registered with the Office of the Public Guardian before it can be used. Banks require the original registered LPA (or a certified copy) before accepting instructions from an attorney.

Court of Protection: If a person has already lost mental capacity before an LPA was set up, it is necessary to apply to the Court of Protection for a deputyship order. This is significantly more expensive and time-consuming than setting up an LPA in advance.

Setting up an LPA while a person still has capacity is one of the most valuable financial planning steps a family can take — it avoids significant difficulty if capacity is later lost.

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This guide is for general informational purposes and does not constitute legal, financial, or tax advice. Digital banking features, banking hub locations, and PSR reimbursement rules are subject to change; always verify current information with your bank or the relevant regulatory bodies.

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How Global Investments Can Help

Global Investments can advise clients — and their families — on structuring banking and financial arrangements that are both effective and manageable, particularly as needs evolve with age. If you are helping an elderly relative to restructure their banking, or if you are approaching retirement and want to simplify your own financial administration, our team can help you think through the right approach and connect you with specialists in estate planning, LPA, and retirement income structuring. Contact us for an initial conversation.