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Banking With Dementia support line

The Banking With Dementia support line is a dedicated banking phone line, connecting customers with dementia to a pool of customer service advisors with the knowledge and understanding to provide specialist support. It reduces the frustration caused by confusing processes and automated systems. 

The service might include:

  • Information about relevant financial products e.g. carers cards
  • Information/signposting around Power of Attorney
  • Guidance on how to use online banking
  • Telephone banking (avoiding any automation)
  • Signposting to local dementia services if appropriate
  • Option to sign up to keeping in touch calls
  • Customers can request a video call if preferred

It is important that the advisor/s is familiar with each customer’s circumstances so they can tailor their support and ideally, the advisor/s would be a named person assigned to the customer. At the very least, advisors must have access to customer’s banking history and previous calls to minimise the need for customers to rely on their memory.

An advanced option is to include a service whereby at first interaction, the advisor has a video call with the customer and trusted supporter (e.g. family member) to get to know the customer, their challenges and how they would like their supporter to help them. Notes from this meeting would be kept on file so to provide context to future interactions with the customer.

Feedback questions:

1)      What do you like about this idea?

2)      Is there anything you would like more information about?

3)      Do you have any concerns about this?

4)      Would you, or someone you support, sign up for this service? Why?

5)      Is there anything missing from this service that might make it more useful?

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Morven Lean 9 months ago

I wasn't completely sure from the description if the banking support line would be at Alzheimer's Society or at each individual bank.

Several banks have specialist support for customers living with cancer, so it would be great for banks to also recognise the prevalence of dementia and to empower people living with dementia to manage their finances independently for as long as possible by setting up a specialist dementia banking line. Macmillan also has a specialist financial guidance service for people who are living with cancer to help them navigate financial services (who to go to for what.. help explaining financial documents etc). Macmillan are able to refer customers to the bank's specialist cancer line through this service. I wonder if we might need a similar service within Alzheimer's Society - to act as the intermediary too?

This idea could help us protect our ability to generate sustainable income. Alzheimer's Society could generate income by setting the standards for these Banking with Dementia Support lines and delivering on them together (e.g. specific training for staff, creation of dementia specific customer-facing resources..).

The other things that could make this service useful might include other financial products that could be useful (e.g. insurance) or financial implications to the customer (e.g. discussions and review of any debt risk incl. direct debits, information about benefits, discussion of planning for the future/care costs)

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Jennifer Bute 9 months ago

could be useful but how would finance it. The information can be found already

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Natasha Morgan 9 months ago

Do you have any thoughts on how easy or difficult it is to find this information currently?

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Jennifer Bute 9 months ago

I just put it into search whether the ban or google! there re many comprising sites and good overall advice by those who have already screened it all

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Fiona Mccrea 9 months ago

I wish this had been around a couple of years ago when dad still did his own banking would have made things a lot easier for me and him

Reply 1

Natasha Morgan 9 months ago

Thanks Fiona. Could you say a little more about how it would have helped?

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Fiona Mccrea 9 months ago

When dad was first diagnosed with dementia this would have been useful as he would have had a named person to speak to they would have got to know him and his spending habits and he needed a strict routine in his life and I think most of this would have enabled him to keep control over his money longer I believed in making him do as much as he was as capable of for as long as possible to Mika him feel in control

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Rosemary Phillips 9 months ago

I would like to see added into this feature the opportunity to phone and discuss if one wasn't sure if a caller etc was a scam call or genuine.

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Ruth Mair 9 months ago

On the basis that this is a support line provided by banks, I think this is a really good idea. From a banker's point of view we used to have excellent relationships with some of our vulnerable customers. They knew us by name and felt very comfortable discussing all manner of financial and other day to day things affecting them. Anything that worried them they would call us to discuss it. In a Unit within a bank it should be possible to have a named contact.
I would definitely use this service and my mum would value this type of facility.

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Alice Billin 9 months ago

I think this would be great. Apart from all the topics listed which are things they can talk about, the real benefit for this phoneline is just having people at the end of the phone who have received specialist dementia training so they understand how to communicate, the anxieties people might have. They'd also have a thorough understanding of all the options available for PABD across the bank, which is not always easy to find.

The idea of one named contact is good but I think unrealistic - what if they call up and that person isn't working that day? Could cause stress

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Trevor Salomon 9 months ago

Very useful indeed. Where is the id security on this service ?

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jayne Sibley 9 months ago

This service doesn't really exist and would be invaluable to families living with dementia, could it be combined with the My Money Meeting? Managing every day money is major cause of stress and worry for families so having dedicated support line will really help. Families can spend a huge amount of time trying to find solutions to financial challenges they face, they may find inadequate solutions and or no solution at all, so having a 'one stop shop' to point them in the right direction of high quality resources and tools to make every day life easier would really help.

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