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Banking and dementia

24 Ideas
112 Votes
35 Comments
41 Subscribers

Thank you for sharing your challenges, votes and comments. Please note, this activity has now closed but you can still comment on the challenges people have posted below. Keep an eye out on the hub for more information as we progress through our banking and dementia sprint.

We want to hear about any difficulties you or others affected by dementia are having when it comes to banking.

We know that people are facing challenges on a daily basis and probably more now than ever since the coronavirus pandemic has changed how we carry out some of our routine activities, including visits to the bank, using telephone and online banking and other banking services.

With your experiences and the support of our partner Santander, together we can highlight these challenges and take forward the ones that receive the most votes for our team to investigate further. Together we will develop a solution to tackle one or more of the challenges to improve the experience of banking for people affected by dementia.

Scroll down to post challenges that people affected by dementia are facing when it comes to banking. You can also comment on other people's suggestions and vote on which ones are most important to you.

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Banking Problems

I spoke to a carer yesterday, her father (PWD) kept on attempting to withdraw money but forgetting his password. On the fifth time the bank refused to send him a card. The carer (no Power of Attorney) spoke to the bank and they suggested Third Party Mandate, at the time my father agreed. We went to the bank today and my father refused. He is not able to manage day to day affairs and I feel a bit lost. I asked my brother to speak to him and of course he agreed to everything, but I cannot be...

1 Score
Voting closed
0
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Telephone scripts

Telephone scripts can be badly written which don’t cope well for people living with dementia, difficult to get through security

1 Score
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0
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Scams! Are vulnerable people being scammed without banks knowing or being unable to stop transactions?

We have heard from some carers about their loved ones investing money in scams, on these occasions many months or even a year before any diagnosis of dementia. In these cases the carers were not aware of their spouses investments, some were made through their family run business accounts and resulted in losing tens of thousands of pounds. The carers were aware of their loved ones having some mild cognitive issues at the time, but hadn’t felt they were ready or able to seek help and didn’t...

14 Score
Voting closed
2
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Visits to Bank

people with dementia report they usually use banking services by visiting in person. Obviously this is very difficult in lockdown and during tier restrictions. They report they value the help and support of staff. Many of these people are high risk category and could a time slot be allocated so they can visit as priority customers. Also, not first thing in morning as it too early with carer visits etc.

12 Score
Voting closed
2
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Permission to Access

I'd like to share with you an issue my aunt had/has with the bank and my uncles dementia. All the household bills etc come out of my uncles account and have done since they were married in 1957. At first the dementia was not an issue as my uncle still had the capacity to understand and agree for my aunt to discuss finances with the bank. My uncle is at now at that stage where he has some lucid moments, some moments where he can act lucid and able to make a decision although he cannot...

4 Score
Voting closed
2
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Support to disclose

Bank can’t help you if they don’t know you need help so how do you encourage people to disclose their dementia/caring status?

3 Score
Voting closed
0
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Blocked by not using internet banking

People can struggle to get the help they need because their bank struggles to help them if they don’t have internet banking. Insisted that they set up internet banking even though he didn’t want it and wasted his time.

4 Score
Voting closed
0

Find my debit card

Mislaying  things is a common problem for people with dementia. I have a friend who misplays her bank card inside her house on a almost weekly basis. This means cancelling the card to calm her down and waiting for a new one to be issued. Could some kind of locator device be incorporated into the chip to help locate misplaced cards. 

1 Score
Voting closed
0
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Worries around telephone banking

This challenge is based on experiences we have heard: My mum who is 64 was diagnosed with early onset Alzheimer’s disease last year and now lives alone since dad passed away recently. I’ve seen how mum has found it difficult taking over the finances, which is something dad always looked after. Mum still understands money and that bills need paying, but she worries and struggles with doing her banking over the telephone. The security questions the bank ask her make her anxious and...

14 Score
Voting closed
4
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Bank identification procedures

I help with my mother's finances and have Power of Attorney (POA) but as part of the identification procedure on telephone banking am asked questions about transactions on the account which I may not know about at that point. My mum has no chance at getting this right. You only get one chance to answer so sometimes I fail security & the call ends and I have another long wait to get through to the bank again. This seems to be a practice which many banks operate.  Can we have a better...

2 Score
Voting closed
3