Practical Banking: Supporting a Loved One With Banking

In recent years, UK banks have started moving towards online banking services. For some older people, online banking can be challenging, as they may not feel comfortable with the technology or might find it more difficult due to various physical or cognitive health problems. 

The good news is that some banks can provide extra help to make life easier.  We can pass on that information to help those we love so that they can remain financially independent and minimise the dangers of online scams, including how to recognise them and what to do if something goes wrong. 

Disclaimer: Our guides are not a substitute for advice – always seek professional help. Remember, professionals will not share information about clients unless they have been permitted to do so.

How This Information Can Help You

  1. Understand and Manage Financial Scams

    Learn about the risks and impacts of scams that target older people. Find out how to protect yourself and your loved ones from falling victim to online scammers.

    Read our Guides

  2. What Support is Available

    Discover what support and tools banks can offer to those with physical and cognitive barriers to banking.

    Download our ebook

  3. Frequently Asked Questions

    Get answers to common questions about practical banking, from how to access banking support to understanding how to protect yourself in the event of a scam.

    Read our FAQs

  4. A Practical Guide to Banking

    See how banks can support your elderly loved ones with our practical guide to banking.

    Download our ebook
Join our private carent support group

Understanding Financial Scams

A purse with paper euros

Scams – Beware they often target older people

Read more

Financial Scams: Protecting your loved ones from scammers 

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Tackling Phone Scams

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What Support is Available

Discover what support and tools banks can offer to those with physical and cognitive barriers to banking. Banks offer support in-house and online to try and make it easier for anyone to manage their finances.

A Practical Guide to Banking

Our guide addresses the unique banking challenges faced by midlife adults caring for elderly relatives. This guide offers practical advice, insights, and solutions to navigate the complexities of banking accessibility, digital exclusion, and more.

Download Here

Frequently Asked Questions about Practical Banking

Discover commonly asked questions about supporting a loved one with banking

Can I do online banking for my elderly parent?

Yes, you can manage online banking for an elderly parent, but you need the proper legal authority that allows you to handle their financial matters. 

Most banks offer various types of third-party cards, differing in access. While most banks offer Lasting Power of Attorney (LPA) and Ordinary Power of Attorney (OPA) cards as standard, some banks provide options tailored to the unique needs of caring for a parent. You can find a breakdown of third-party cards in our downloadable Practical Banking eBook.

Many different types of online scams could impact you or your loved ones. Here are the common types to watch out for:

  • Phishing Scams: Clever emails or messages that look like real businesses trick people into sharing personal details like bank information. 
  • Romance Scams: Heartbreakingly, scammers use dating sites or social media to trick and convince people to send money.
  • Investment Scams: Promises of high returns with minimal risk on investments like cryptocurrency, where the investments often don’t exist.
  • Prize Scams: Victims are told they’ve won a prize but must pay fees or taxes before claiming it.
  • Contact Banks: Immediately inform their bank about the scam.
  • Report the Scam: File a report with Action Fraud and local police.
  • Document Communications: Keep a record of all scam-related interactions.
  • Privacy Settings: Strengthen online account security to prevent future scams.
  • Monitor Finances: Watch for suspicious activity on bank statements and credit reports.

 

Banks offer support options for a range of support for elderly customers, tailored towards challenges they face. This includes providing support for digital exclusion, cognitive, sight, hearing, and mobility problems. Our downloadable practical banking eBooklet breaks down the help available at each bank to combat these challenges. You can also contact the specific bank directly for detailed support.