Online banking and the over-50s

A survey published in the Banking Times reckons that 70% of the over-55′s are currently using the internet to manage their finances. Almost half are also logging on to source pension schemes, independent financial advice and stocks and shares.

“Experts believe the shift may have been encouraged by better interest rates, product ranges and general convenience online.”

No, I don’t think so. Maybe , just maybe 70% of the over-55s who are using the Internet do their banking online but for sure, 70% of the 55+ are not even online, let alone doing their banking.

I assume that the Banking Times got the press release wrong. The research was done by an outfit call OnePoll. Dick Stroud