Digital is often lacking

Fewer branches: are banks forgetting about senior citizens?

The journey to the nearest branch is getting longer and longer for many customers. This is forcing older customers to use online banking - an arduous undertaking for those who are less digitized.

(Bild: stock.adobe.com/Leszek Glasner)

The change in the banking sector means fewer branches and more digital financial transactions. This development, which has already begun to make itself felt in Upper Austria, is the subject of heated debate on krone.at. Read here what the community thinks about the trend towards online banking and whether older people are being forgotten.

The plug is increasingly being pulled on small branches. Instead, competence centers are being created that are larger and where banks are bringing their advisors together...

The adjustment of branch networks and a shrinking of the bricks-and-mortar offering has now become part of everyday life for domestic banks, while online banking is on the rise and customers have long preferred to process transfers and other transactions digitally.

"Banking channels are becoming longer and more cumbersome"
But what does this development do to older people who are less digitally savvy? Our readers on krone.at also discussed this after the "OÖ-Krone" newspaper made the change in the banking sector a topic of discussion. "Nobody is thinking about the old people who are not digitized. After every branch closure, their banking channels become longer and more difficult," writes one reader. "Some older people still haven't got to grips with the smartphone," confirms another.

The changes in the banking world divide readers. While some swear by their trusted advisor and financial institution, others have already shifted their financial transactions completely to the digital world. "With the very limited opening hours, banks have long since made it impossible for me to visit a branch," reveals one user on krone.at.

Consultation hours also in the evening
The banks are countering this with extended consultation hours, including in the evening. Customers can make individual appointments. There is great dissatisfaction. One criticism of the banks: "Less service at the counter, but higher account fees."