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Banking and dementia

Ideas listing

24 Ideas
112 Votes
37 Comments
42 Participants

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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  1. Alice Billin
    74 pts
  2. R Mair
    60 pts
  3. Celia Imogen
    33 pts
  4. Jennifer Bute
    31 pts
  5. Elizabeth...
    28 pts

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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
Comments 0
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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
Comments 2
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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
Comments 3
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Spotting strange financial decisions early

This challenge is posted on behalf of someone who wishes to remain anonymous: We didn’t realise at first, but when my dad was diagnosed with Dementia, he developed unfounded thoughts which lead him to almost gave all his money. Strange financial decisions can be ‘invisible’ in the early stages of Dementia when not even family would recognise something was wrong, let alone banks. How can we help prevent people from making poor financial decisions in the very early stages of dementia,...

6 Score
Voting closed
Comments 1
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Banking App cash cards worked for us

Once I had got Lasting Power of Attourney registered for my father's bank accounts, (we were lucky to do it in time before he lost capacity) I was able to put in place a new cash card account that allowed him, and then later his carers, to carry out financial trasnsactions and remain independent for longer. I used a Monzo account (in my name), and provide the card to my father, and later his carers. The account was managed through an App on my phone that allowed me to see transactions in...

3 Score
Voting closed
Comments 0
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Vulnerable customers phoneline

Can't get through to someone who understands difficulties people affected by dementia face, which coupled with difficult security questions can be very challenging. Having a specific vulnerable customers phoneline would be very helpful

3 Score
Voting closed
Comments 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
Comments 3

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
Comments 0
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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
Comments 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
Comments 2