This blog was contributed by David Steele, Policy Manager Financial Services, at Age UK
What happens when all the banks in a town or suburb decide to close their branches? Where do people go to talk about tricky transactions or more complex services? Where do local businesses bank their cash and cheques? The UK bank branch network has shrunk by half over the last 25 years with another 2000 closures expected in the next 3-4 years, meaning that the number of stranded customers is likely to continue increasing. Continue reading
Posted in Consumers, Money Matters, Public Policy
Tagged #inclusivedesign, Age UK, Age UK blog, Age-friendly banking, Age-friendly banking report Age UK, Ageing, ageing population, inclusive design older people, money matters, older people
We’ve all heard people complaining about poor service from their energy companies. We’ve all read newspaper articles about inaccurate bills and unanswered queries. We’ve all seen the hefty fines handed to companies for failing customers. In truth, the energy sector has not covered itself in glory handling consumer complaints.
But householders do not need to grin and bear it. Legal and other changes to consumer protection offer increased support to aggrieved customers. All the major energy companies are now answerable to an Ombudsman. But to take action, the Ombudsman needs to be satisfied that the consumer has followed due process. Continue reading
Posted in Consumers, Energy, Money Matters
Tagged Age UK, Age UK blog, ageing population, ageing society, complaining to energy suppliers, energy consumer advice, money matters, older people, Ombudsman energy supplier, Ombudsman Services
Over half (53%) of people aged 65+ believe they’ve been targeted by a scam, as revealed by an Age UK poll. This means a staggering 5.7 million people could be at risk.
And the scale of problem is probably even worse due to under-reporting – over 60% of people who received a scam didn’t report it to anyone.
Not everyone responded to attempted scams but of those who did 70% lost money. A third of older people who did respond may have lost £1,000 or more.
These alarming figures – from our new evidence review – come as new pension freedoms take effect. Many people over 55 now have access to pension savings worth tens of thousands of pounds and fraudsters will target them. Continue reading
Posted in Communities and inclusion, Consumers, Money Matters
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, avoiding scams, Care in Crisis, elderly scams, Fraud and Scams, money matters, older people, older people scams, scams awareness, scams awarness older people