Silver surfers

When it comes to money affairs, the over-55s are taking technology in their stride and have become the greatest proportion of new internet bankers, according to UK payments association APACS. Maeve McGovern examines the reasons why.

Silver surfersIn general, the over-55s are a conservative group and like to budget their money carefully. The seemingly endless number of banking scandals has done nothing to give them more confidence in the system. And this is where online services can help, by providing real-time access to and more control of financial information.

The internet means rarely having to queue at your local bank and has never been so appealing for the over-55s. It offers convenience in a world where bills have to be taken care of almost daily.

And then there’s safety. Many older people do not like going out with cash when lodging money or paying bills.

Most banking institutions now offer an online facility which allows customers to check balances and view statements, move money between accounts and order chequebooks and statements among other things.

Indeed many utility providers offer attractive incentives for signing up to direct debit online as well as enticing customers to register for online account management.

Along with these advantages, an online account can cut travel costs - you don’t have to drive to the bank and therefore save on fuel. It saves on processing costs also, is swift and allows more flexibility to your day.

AIB says about 7 per cent of its active internet banking base ranges from age 50 right up to age 90 - a positive indication that people who did not grow up in the computer age are nevertheless eager to embrace it. The bank added, however, that seniors do have lower take-up levels.

Christine O’Kelly of the Older Women’s Network said that despite running a keen initiative to encourage internet use among members, online banking was still considered the preserve of the more advanced computer user

“I think this generation of over-55s is more au fait with internet banking from their work but certainly over-65s would not be clear on it at all, nor would they trust it. They are still nervous about it and internet scams would really scare them off. At the moment they want to go to the bank, see their book and their money in front of them. Regular use of online banking would be a fair bit down the road,” she added.

If you want to bank online, it is simply a matter of contacting your bank to register for the service. You will receive your unique PIN (personal identification number) and login number separately in the post. Once you enter these numbers your account will be activated.

To set up online bill payment between your bank and service provider just contact your bank with your sort code, account number and your service account number.

Those with limited internet knowledge can ask a family member or friend to show them how to navigate their way to a particular bank’s website. Alternatively, it is possible to enrol in a relevant evening course.

Irish Banking Federation (IBF) guidelines for online banking

Do

  • Know who you’re dealing with. Only provide your personal information to businesses or people you know and trust and in a secure environment.
  • Memorise your security information (username or ID, password and online PIN) and do not reveal it to anyone.
  • Install and maintain supported and licensed anti-virus, personal firewall and anti-spyware software.
  • Logout or sign out of your online banking service when you are finished and close the browser window.
  • Check that the login page is secure. Watch out for the security symbol at the bottom of the internet browser window. This is usually a closed padlock.
  • Check your account statements regularly and report any unusual or suspicious transactions to your bank.

Don’t

  • Don’t reveal your security information to anyone, except in the secure online banking environment.
  • Don’t reply to unsolicited emails asking for personal or security information.
  • Don’t reply to emails from any business or person requesting personal or security information or directing you to a website to input personal information, even if you are a customer. Most legitimate business will not seek personal information in this way.

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Comments

  1. Bernard wrote:
    And it's environmentally-friendly! I have recently contacted my bank to tell them to stop sending monthly statements via post as I no longer open them and systematically check my balance and verify all my transactions online. I'd encourage everyone to do the same.
  2. katcha wrote:
    katcha
    At 81 I am now on my 4th Mac computer. My first was in 1989, before the internet, when my son gave me his when he was moving to the US. Learned how to use it from a manual. In 1998 I bought the iMac when it was launched and the whole world became my playground. My 10 grandchildren invaded me constantly as it was the first one in the family. I was the most popular Grandma in Ireland. That year also I built my own website, no software but a book from Amazon HOW TO BUILD YOUR OWN MAC WEBSITE. The Eureka moment came for me when I successfully uploaded this website URL: http://homepage.eircom.net/~katcha
    I was exhilerated. I've been using online banking for some years now and as I'm mostly housebound, online banking, shopping, newspapers and my beloved amazon - I'm a mad reader - make life so manageable for me. In 1998 also I became a member of a US senior chatsite senior.com where I made many, many friends, some of whom I still keep in contact with today. Resulting from that chatsite an Australian TV SBS who were doing a TV series GREY VOYAGERS, asked me to travel with their crew to the US to meet some of the friends. We flew to New York, thence by Amtrak train right across the country from New York
    to San Francisco stopping off in Niagara, Wisconsin and Denver Colorado to meet my close friends. What a journey from the Atlantic to the Pacific.
    Some years ago I bought the iBook laptop when that was launched and later the MacBook and now broadband has expanded that world - SKYPE is wonderful for very personal chats with family in the US and UK. Aint life sweet for an ould wan!
  3. Finn wrote:
    Lady of adventure
    You have such a good attitude. I cna't believe you built a computer. I'm new to this computer lark but I am enjoying it. What's a chatsite?
  4. katcha wrote:
    katcha
    I wish!! I built a website on my computer - not the computer itself, I left that to Steve Jobs, Appleman.
    Unfortunately senior.com were taken over some years later and still unavailable to us. Chatters over 55 from all parts - US, UK, Europe, Australia all met there and made great friends. A chatsite is a site for folk to "speak" to each other. You should ask someone - your grandchildren? - who is computer literate and they will guide you. When I first joined up I used to spend hours there having fun - and serious discussions. So much so, in fact, that as I checked my email at 4a.m. one morning before shutting down the computer, my son, who works with Apple in California, 6000miles away, sent an email "Go to bed, Ma."He had spent hours trying to phone me and I was online so no joy for him. Good luck with your adventure into computerland, Finn
  5. Greeneyes wrote:
    Greeneyes
    I love my Mac, trouble is my hubby thinks I care more about Mac than I do about him Ha! There is a good health site Irish Health, check it out some lively discussions on that. Life begins with Mac!
  6. katcha wrote:
    katcha
    Good for you, greeneyes*G - another Maclover. I'm registered with IrishHealth and get their newsletter every week.It is a very good site and,as you say, the discussions are very enlightening.
    Finn, I just checked with the chatsite I mentioned www.senior.com and it's up and running and they say that the chatrooms will open later this year. I registered with them. I have no hesitation in recommending this site as it is excellently monitored so no questionable stuff. Is also very informative for seniors.
  7. Greeneyes wrote:
    Hi Folks,
    I just noticed that EveryMonday.ie are starting Blogging, what do you think, I am a typical woman I like talking but when it comes to a blog
    I wonder, would I have enough to say Ha! and if so what would I talk about OR maybe we could start a joint blog, now that is a thought.
    Any ideas. Life really does begin at ?? and Katcha yes I LOVE my MAC
    and I love surfing (on the net that is) Greeneyes looking at you!
  8. Greeneyes wrote:
    Fins question What is a Chat site?
    Hi Fin, my daughter said "stay away from those chat rooms Mam, you just don't know what type of people are on them Ha!" she is the 29 year old daughter and I am the Mother.
    I am a member of a creative writers site and they have members worldwide so I could be "talking" to Australia one minute and Washington the next, and when I think back, we only had a wireless when I was a child. Isn't Life Grand!
 

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