Cyber banking converts who won’t be duped by fraudsters

For years, Roger Jewitt had absolutely no interest in banking online. 

The 70-year-old had heard horror stories of people losing thousands of pounds after their personal details were stolen by fraudsters and feared the same could happen to him. 

But he is now among a growing group of retired internet banking converts who were forced to get to grips with the new technology during lockdown because they could not leave the house to visit their local branch. 

An estimated six million people downloaded their bank’s digital app onto a smartphone or tablet for the first time between March 14 and April 14, according to research by technology firm Nucoro. 

TSB says the average number of customers registering for its mobile app nearly trebled in lockdown; from just over 1,270 to almost 3,480 every day. 

Virgin Money saw a 20 per cent rise in customers downloading its app, while registrations for online banking at Nationwide rose 38 per cent in March. 

HSBC says the number of customers aged over 60 using its mobile app rose by 20 per cent between January and June. But while this may have been a necessity at first, some say their new confidence online has transformed the way they bank for good. 

Roger, who worked in sales, began using mobile banking in March. He was self-isolating and needed to reimburse a friend who was picking up his groceries. He also wanted to send money to his children to buy treats for his grandchildren while he couldn’t see them. 

‘I was worried about fraud,’ says Roger, who lives alone in Harrogate. ‘But I listened to the staff at my branch about security and decided to go ahead. 

‘Now I don’t know how I would have coped without it. I wish I’d started using it ages ago.’ 

Retired Alisdair Barron, 70, from Glasgow, had downloaded his bank’s mobile app in October last year but barely used it. While he was shielding, though, it meant that he could pay bills and reimburse friends and neighbours for doing his grocery shopping. He also found it useful to pay in cheques by uploading a photograph in the app. 

He says: ‘I have always preferred face-to-face contact for banking. But after seeing how convenient digital banking is, I’m going to be in a branch much less in future. Parking near the bank is not easy so I’m glad I won’t have to worry about that any more.’ 

Retired dental nurse Rhona Williams, 68, says she had felt unnerved by the idea of running her accounts online but lockdown forced her to get on with it. 

Rhona, who lives with her husband Ralph, 71, in ­Dunfermline, says she has used the Bank of Scotland mobile app to pay bills, transfer money to family and friends doing her grocery shopping and send money to grandchildren on their birthdays. 

‘I’m no computer whiz but the whole thing has been far less daunting than I expected. If I can do it, anyone can. 

‘I will still be visiting the branch, but the app will be there when I need to do something in a hurry and I’m not going into town.’ 

Internet banking has soared in popularity in the past decade. About four fifths of adults used online, mobile or telephone banking in 2019, compared with three fifths in 2009, according to UK Finance. 

Get started online 

Online banking allows you to manage your finances 24/7. You can check your balance, make payments, view statements and even pay in cheques by taking a photograph of them. 

To set up online banking, visit your bank’s website and follow a link to the registration page. 

Each bank has a different process but you will typically be asked to choose a password and set up a host of security questions.

In some cases, you may need to wait for a small security device — that you must use to generate a passcode to log in — which will follow in the post. 

Alternatively, you can download your bank’s app onto your smartphone or tablet. Search for your bank’s name in the app store on your device. The app should be free. Select ‘get’ to download it and it should then appear on your screen. 

You will usually need to fill in a registration form and set up some security questions. 

If you are using a relatively new smartphone or tablet, you should also be able to sign in using your fingerprint. If you have a problem, most apps have a built-in messaging service. It may be called ‘chat’ or ‘support’.