Only a few months ago I was writing about how older people are getting left behind by new technology. (Click on the 2 sept 2012 in the Archive)
Now a report by The Payments Council has highlighted the difficulties older people have in using ATM machines, payment terminals, on-line banking and internet shopping. Difficulties with small buttons, small print, differing data entry processes and remembering passwords all mean that life is getting harder not easier in terms of managing your money. This is quite the opposite of the situation for todays younger generation. Many of them do almost all of their shopping on-line and probably never go into a bank or rarely use cash. So in their head-long pursuit of the modern world and the youth market, the banks are leaving the grey market far behind.
Since there is virtually no interest paid on accounts these days, it may be best for grannies and granddads to put their money under the mattress 🙂