More than two million over-70s use online banking, and almost half a million over-60s have downloaded mobile banking apps, according to the British Bankers’ Association.
Despite common perceptions that modern technologies are mainly adopted by the young, older customers are among the most enthusiastic users, according to the figures from RBS Group, Lloyds Banking Group, Barclays, HSBC, Santander and Metro Bank.
According to HSBC, whose oldest mobile customer is 108, over-70s log in more frequently than any other age group.
The study could have implications for the future of branch networks.
Typically, large banks need to close some underutilised branches in order to deploy resources more efficiently, while politicians and customers complain that vulnerable or elderly account holders have no other way to access their funds.
“These figures shatter the myth that this technology is only for younger generations – millions of older people are avid users of banking websites and apps,” said BBA chief Anthony Browne. “Customers of all ages like the fact that they can now make payments, check balances and do other banking tasks from the comfort of their home without trudging into town.”