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Alzheimer's Society Innovation Hub

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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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All National Institutions

As Power of Attorney for both my parents, there has been not one major company - HMRC, British Gas, Banks etc - who have made it easy to register the PofA with them.   Rarely is it mentioned on their websites, so it then involves a phone call and usually the call centre have no idea of what you are talking about.   It has been a nightmare.    Once you get hold of the correct department, it is a 'fairly' simple procedure, but it is getting hold of the correct department or finding information...

7 Score
Voting closed
3
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Not aware of support available

Some ideas that are already implemented (ie can bypass phone security questions by setting up your voice as your ‘PIN’) but not known about. How can people use these things if they don’t know they exist?

2 Score
Voting closed
1
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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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Leaving debit card and cash in ATM

Forgetting to take debit card or cash when leaving ATM

1 Score
Voting closed
0
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customer advisers are ace at resolving your problem

I have alzheimers/dementia and am developing some  problems with banking. My bank is ultra security conscious- which for me, is both a blessing and an anxiety. I know that keeping the same passwords is a great help to scammers, but having to keep on top of changed personal details as well as changed passwords can confuse me, when I refer to the wrong page in my little book. Fortunately, at present, I am still good at speaking on the telephone to  a customer service adviser when I have got...

6 Score
Voting closed
2
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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
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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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Concerns about using the cash machine

This challenge is based on experiences we have heard: I’ve found it worrying supporting my dad where his finances are concerned. My dad has always gone into the bank to draw his money out, but since coronavirus struck, my dad is weary of going into places for fear of catching it. So he now uses a cash machine local to him rather than travelling further away to go into a bank. The problem is I know he tends to use the cash machine when he goes out for some food shopping, which is...

10 Score
Voting closed
2
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Stick to appointment times

A woman whose husband has young onset dementia found that he would struggle if the bank staff didn’t stick to their appointment time because he would get agitated quickly. 

2 Score
Voting closed
0

2 stage verification

An excellent idea for safe transactions but really difficult as it requires good mobile phone skills-another ,safe way for those with dementia to funtion safely with money transfers without having to ask family members to help them

1 Score
Voting closed
0