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freqflyer Posted August 2022

Banking use to be so easy.

Yesterday, I visited my bank because I wasn't getting my bank statements plus the bank's software wouldn't let me set up on-line banking because I didn't have a cellphone number. So I thought this all could be corrected if I went in person.First the bank said I had checked the box on-line saying I no longer wanted paper copies. But how could I do that if I couldn't set up on-line banking? I was sucessfull a couple years ago with setting up my credit-card, and that works great. She couldn't walk me through the set up because they are not allowed to have me use my password on their computers. Instead she gave me a telephone number to call when I got home. I asked her what do other seniors do who prefer not to have a cellphone? For me, I can't read what is on the screen due to senior eye issues. She had no answer.

Frances73 Sep 2022
Yes, there are so many rules and regulations to protect the elderly that it makes banking for them very difficult. I appreciate the need to restrict access but sometimes it's just crazy! My mother suffered from dementia and even though I was her POA and the bank had both digital and hard copies of all the documents there were times when a banker insisted on speaking to her directly. It was nearly impossible to set up a 3-way call with her at her facility so the banker could verify the information. Especially during Covid!

Becky04469 Sep 2022
I have an account at Wells Fargo in NC. They use their own POA papers. But it's easy to handle. Take in your DPOA papers and sign the POA form they give you.
I sent the POA for my property manager in NC so that he could take care of some banking stuff for me. They sent me their form I signed and had notarized and mailed back to the bank - no problem.

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Slavetomydog Sep 2022
Was this Wells Fargo? My stepdad recently went through similar. He had been using my mom's online account (tied to their joint account), and was unable to get a text or hear a phone call with the code for 2 factor authentication. Mom has advanced alzheimer's. So they wanted him to set up his own online account. OK, but he still had to get codes either by text or phone for 2FA. So together on the phone we asked them to reset the phone number on the account to mine, so I could get the code and then tell him so he could enter it. After a month and multiple phone calls, he had to go back to the branch (for the 3rd time since they said they couldn't help him all the way through) so they could verify his identity. This even though they said it would be done within 5 business days. I also learned that Wells Fargo may not accept a DPOA that is not on their paper.

freqflyer Aug 2022
cwillie, you are so right, Gone are the days when one can enter the bank and go to the same Teller you had been going to for decades. None of this "do you have an account here" when you wanted to pull some pocket money from your account.

My bank use to have 3 branches close by, now it is down to one branch. My parent's bank had branch offices inside certain grocery stores which made it each for them, plus my parents knew the Tellers names at each location. Back then my folks would be greeted by name when they came into the bank, but I can now a days why that's not a good idea.

cwillie Aug 2022
Closing down the little local branches where the tellers got to know their customers hasn't helped. And pushing people to use the machines instead of going inside to a teller, plus moving the majority of commerce to plastic cards vs cash has only accelerated the demise of in person banking.

lkdrymom Aug 2022
When my father was moving to AL I took him to his local branch to change the address on his statements to come to my house because I would be taking care of his bills. They refused. They needed to see his name on a utility to change the address. Well that wasn't going to happen. That is why I brought him in, so they could see and talk to him directly. No, wouldn't even talk to us. Took me over a year and a vacation day camped out in another branch to finally get it all sorted.

someguyinca Aug 2022
People suck at empathy. My father, who is blind, calls phone banks, press 1, press 3, and he can't see the phone, his hands aren't great, he doesn't hear great, and you can guess the outcome.

The problems you describe are a mess that I understand. I support and implement enterprise software, one piece of that is a web-based application. My security team wants me to set up two-factor authentication, usually a text message. Our software doesn't do that, it will send an email, however. We aren't a technologically cutting edge place. In fact, several of our users didn't have email, we routinely have to @yahoo or @hotmail them. Now I have to set up a second email for them? We had some who didn't have cell phones.

Anyways, your issues have come up because everyone is security conscious, which is good, but at the same time, it adds pain to the process. Hell, it pisses me off, I can't imagine what it does to the elderly. In effect, it cuts them off from being able to use the banks services. My father stays with Wells Fargo, I'd love to get him out, but he needs to be able to go inside and see them, because no matter how hard I try, he won't use a CC in some instances, so he needs cash. He lets them manage his investments, which I don't trust. And who would trust Wells with their history?

But what else is there to do?

freqflyer Aug 2022
Trying to keep up with new technology isn't easy for seniors. I remember how frustrated my Dad was and here when he was younger was on the cutting edge of computers, how they work, writing software programs, the whole 9 yards, even for 10 years after he retired. Then technology got further and further out of his reach.

Gosh I can remember teaching how use real estate software to Agents back when it was DOS and later with newer formats. It was all a learning curve. But some of the websites for today businesses the instructions are coder to coder, not coder to consumer.

In the past, when you waked into a bank, all the teller cages were open, and every management office had someone waiting to help you.

I would like to switch over to another bank but I have too many auto-pays and auto-deposits connected with this checking account.

This does make life interesting.

golden23 Aug 2022
ff - you can set the size of letters on a cell phone. I have some vision issues too off and on and have pretty well given up my landline. The cell phone is handy for reminders, maps, Kindle etc. I like the iPhone (Apple product) for the built in security though I prefer Android laptops. Got my first cell phone 20+ years ago after getting a flat tire on the highway on the edge of town and having to walk through slush and cold in February winds to the nearest fast food place to call AAA. Wouldn't be without it now. However I agree that banking was much easier years ago. Much, much, much!!!

Sendhelp Aug 2022
Find a bank that complies with the laws concerning disabled access, or return to your bank and ask for a large-print statement be mailed to you according to the ADA (Americans With Disabilities Act).

 People with disabilities have a high consumer loyalty to businesses that are accessible and supportive of persons with disabilities. Serving their community will allow your financial institution to grow and establish better relationships, while being in compliance with federal and local laws such as:
The Americans with Disabilities Act (ADA)
Sections 504 and 508 of The Rehabilitation Act
Electronic and Information Technology Accessibility (EIT)
Federal Acquisition Regulation (FAR)

Eyesight limitations can get you a large-print statement mailed to you.

Sendhelp Aug 2022
FF,
Having some of the same issues here!
If big brother is watching me, BB will be very bored.

Here is some banking advice I have received:
Bank locally at a smaller bank, at a credit union.
Set up automated bill payments.
If they bank online, keep a low profile, do not "announce" that you are not online. I bank mostly by phone.
Go to the bank. Pick a different person, like the manager. Do not mention all your vulnerabilities. Just request a paper statement be mailed to you. You can also call to request same.

I wonder if they can send large-print statements?

Bank by phone via their automated phone. If need be, they will transfer you to an an agent. I rarely go to my bank. They send statements.

I can even call them and ask what charge was made to my accounts and the agent will explain it.

They were great during the pandemic, but closed for a week due to Covid.
I used my second bank. That bank is now on inactive status so they will close the account if I don't use it for some transactions. So, yes, banking is getting harder, and it keeps changing.

If you want your bank to appreciate you, have a mortgage, a credit card, a personal and/or car loan paid automatically. Have automated income being deposited into your accounts.

Keep dancing as fast as you can.
And when you can't, give POA to a trusted fiduciary, wth the requirement that they copy you with all bank statements and bills paid.

Geaton777 Aug 2022
FF, have you looked into Google Voice? I believe it allows one to have a "mobile" phone number that works on the internet without having an actual mobile phone. I don't use it myself but have heard about it from others.

I encourage all seniors to keep up with technology as much as possible: it's helpful to you, to your family as you age and for your brain to keep it learning new things.

https://voice.google.com

Regarding you "selecting" to receive paperless statements... I have had this happen and I think the banks do this to customers because they want to save money by not having to print and pay for postage (and the labor).

Having the ability to text is super helpful, but also a great security feature: I will know immediately if someone has breached my cc or account since I get text notifications right away.

GardenArtist Aug 2022
It's getting more complex, and expensive. I was just notified by the large bank I've been with for a few decades of changes that require a minimum balance of $15K in checking accounts, and a new $25 monthly fee. I'm searching for another bank now as this to me is well beyond reason.

I understand what's happening, and if I'm correct, it's an effort to establish a source of funds for the bank when the recession accelerates or becomes worse. as well as to encourage people who are not "of high net worth" to use other banks.

Anyone dealing with a real, not online, bank, that doesn't charge $25 monthly fees or require outrageous minimum balances?

JoAnn29 Aug 2022
I do not do on-line banking like paying bills. I do have where I can print off statements and transfer my nephews money from one acct to the other.

Has your bank made changes lately. Maybe upgraded their computer software? I was getting my statements before a change over and not after. Why, because the upgrade defaults to going paperless. You made no changes, the bank did. Now its up to you to tell the bank that you want that changed. I just print off my statements.

The use of a cell phone is just so they can text you. My bank has it so that if I haven't logged for a while, they send me a code. I can have them call me, email me or text. Since I don't give out my cell# unless I have to, I ask it be emailed. You can not be the only person that does not use a cell. My bank is always referring me to the main institution for help. Call that # and hope its someone who can help you.

I hope its years and years from now, but I pray DH goes before me because he is computer illiterate. Because of his hearing he likes talking to people in person. (He can't hear on a phone)

cwillie Aug 2022
Big Brother is watching.

Becky04489 Aug 2022
I think it's already got me.

freqflyer Aug 2022
Sorry my discussion looks so strange with that weird coding mixed in. Have no idea where all that came from. I think modern technology is out to get me :)

cwillie Aug 2022
Have you called the number yet? A friend was telling us about her woes trying to transfer money from one bank to another, somehow the transfer didn't go through and the money just disappeared. The icing on the cake was the number she was given to call turned out to be at a call centre in Columbia (yes, the one in South America)!!

Pmruns Aug 2022
I agree with you completely. I am just assisting my parents with their finances and have been overwhelmed with the difficulty of setting up online accounts. The number of websites and apps required to simply pay the bills has been very daunting. I am not sure how the average senior much less one dealing with any physical or mental challenges manages this on their own.

It seems ridiculous that one can’t go to their bank in person and resolve these issues. I’m sorry you’ve met with the frustration as well. I hope the person you call can help you solve your issues without further stress.

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