Lloyds Bank job cuts

Thrugelmir

badger09 wrote: »

However, I think the point being made was that some, especially older people, are being disadvantaged by the increasing reliance/insistence on online technology in order to cut costs

What do older people use banks for that younger people don't. I manage my accounts quite easily without the need to resort to logging on every day. Most of my bills are paid by standing order or direct debit. I can check the balance or get a mini statement at the ATM.

Steve_xx

Thrugelmir wrote: »

What do older people use banks for that younger people don't. I manage my accounts quite easily without the need to resort to logging on every day. Most of my bills are paid by standing order or direct debit. I can check the balance or get a mini statement at the ATM.

I guess it depends on what point one becomes "older". A 60 year old today will be pretty internet savvy in general. A 70 year old maybe, an 80 year old perhaps less likely to be. All generalisations of course, every youngster wont be internet savvy despite the fact that it seems that way.

badger09

Thrugelmir wrote: »

What do older people use banks for that younger people don't. I manage my accounts quite easily without the need to resort to logging on every day. Most of my bills are paid by standing order or direct debit. I can check the balance or get a mini statement at the ATM.

Not what older people use banks for, but how they use them.

Steve_xx wrote: »

I guess it depends on what point one becomes "older". A 60 year old today will be pretty internet savvy in general. A 70 year old maybe, an 80 year old perhaps less likely to be. All generalisations of course, every youngster wont be internet savvy despite the fact that it seems that way.

Absolutely agree.

My 77 year old sister is far from 'old' in may ways, but refuses to have anything to do with the internet. After much persuasion from me, she switched her ancient HSBC account to Santander 123 and is delighted with the interest and cashback. However, she still manages all her banking either by phone, post, or in branch and that will never change

On the other hand, I'm 64, reasonably computer literate and in fact am just off to teach 'older people' :eek: to use the internet. My [STRIKE]victim [/STRIKE] student today is in her 80s and has never used a computer in her life but wants to know what she's missing :rotfl:

Horses for courses

System

It's just a question if the 'Young' people want to prepare for the future based on those on their way out.

If 'old' people won't accept electronic channels, then they can pay the price with interest / charges - end of.

All my sympathy with the 'old' has gone after the referendum

Steve_xx

Heng_Leng wrote: »

If 'old' people won't accept electronic channels, then they can pay the price with interest / charges - end of.

It's harsh to state that the elderly "won't" accept the electronic way forward. Some people who are elderly simply cannot learn about new technologies, due perhaps to cognitive decline. Conversely, some younger people are unable to manage technology because they have been born impaired in some way.

Is it really fair and equitable to target these groups with punitive charges?

Chrysalis

some things cannot be done online, lloyds seems to be going backwards.

I have a branch across the road from me and I used to make cash deposits in the cash machine, but they removed that facility about a year ago.

Now those 2 cash machines will go completely I guess if the branch gets closed.

eddddy

Like most businesses, retail banks do what their customers want them to do.

This forum demonstrates that customers are more interested in "golden hellos", high interest rates on savings, low fees - than personal service in branches.

When sentiment changes, and people start saying "I'm happy to accept lower interest on my savings and pay more fees in order to get personal service in a branch" - the banks will respond accordingly.


(It's happening a bit in retailing. Waitrose are doing well, because it seems many people are happy to pay higher prices, in order to get better service and a better shopping experience.)

gwin

I just opened a new account this morning then read about these cuts in the Metro on the way home. Wish I'd picked a different one now.
For those saying it doesn't matter, it does if there is a problem and they say pop into your nearest branch.

Steve_xx

eddddy wrote: »

Like most businesses, retail banks do what their customers want them to do.

This forum demonstrates that customers are more interested in "golden hellos", high interest rates on savings, low fees - than personal service in branches.

When sentiment changes, and people start saying "I'm happy to accept lower interest on my savings and pay more fees in order to get personal service in a branch" - the banks will respond accordingly.


(It's happening a bit in retailing. Waitrose are doing well, because it seems many people are happy to pay higher prices, in order to get better service and a better shopping experience.)

Banks don't always do what their customers want. Though they may well like you to think that they're doing what you want them to. Banks are rather adept at making their customers do what they want them to do.

As for being "happy to accept lower interest on my savings", well, it doesn't get much worse before it reaches zero. Soon, if things continue how they have been, savers could be paying mortgagees.

Steve_xx

gwin wrote: »

I just opened a new account this morning then read about these cuts in the Metro on the way home. Wish I'd picked a different one now.
For those saying it doesn't matter, it does if there is a problem and they say pop into your nearest branch.

I think when people are saying "it doesn't matter" that they are referring to it not mattering to them as individuals, rather than it not mattering to all mankind!

The gresat thing about you thinking that you made a mistake is that it being a matter of choice that you will not have to stick with your perceived mistake. You can shift elsewhere at will.