How the digerati are driving away your highest "net worth" customers

One high net worth individual was recently autodialled by what purported to be their bank, "on an important matter to do with bank" and asked to "key one for .... two for ... etc.". Having given that bank clear instructions about how to contact them they assumed it was but another VoIP (Voice over Internet Protocol) scam and were about to ignore it. Luckily they checked via their normal banking contact. It was the fraud department of the bank wishing to query an unusually high value transaction. Their funds have but been moved to a bank which uses human beings to make such calls.

She says "This village hall committee and WI are a good example: They are volunteers, have no admin staff, are not on Email, let alone the internet; in charge of charity funds for which two signatories are required; worried about risking charity funds to internet fraud; operating in rural areas without good broadband and banking facilities, making small transactions for which a cheque is the easiest and most flexible method, where the social interaction of making payments personally is important to isolated individuals. This Womens Institute is moving in high dudgeon to a bank which caters for its simple need by providing a chequebook."

The continuing needs of the growing elderly population

"Those banks which fail to recognise the continuing needs of the growing elderly population and tens of thousands of voluntary organisations for cheques, risk losing a great deal of custom. Cheque use may be falling, nevertheless it will not cease, and banks can contribute to the Big Society by recognising the needs of the Third Sector."