Grey Power not happy with Banks closing around NZ

Grey Power not happy with Banks closing around NZ

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Grey Power are expressing their concern for banks closing around the country, where many older aged people are being left in the darkness without an essential service behind the till to assist them.

Because banks are cost-cutting, and the modern move to a digital currency instead of physical, it is now harder and clear that older age groups cannot keep up.

Jan Pentecost, President of the Grey Power Federation, said: “We have lobbied relevant agencies since 2016 to ensure, to the best of our ability, that older people are not disadvantaged by bank closures and the transfer of banking business to digital technology because numerous older people do not or cannot use the internet.”

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Some of which, live in rural areas with little to no internet coverage for the use of apps to monitor accounts. 

Factors of hearing and sight issues mean that a phone call with banking staff is challenging.

“Access to banking facilities far removed from their home is difficult because many can no longer drive and all this requires the growing dependence of the elderly to allow others to manage their finances, potentially leading to elder abuse,” said Jan Pentecost.

Grey Power say they are watching the capacity of the banking hub trial with great ‘interests’ – “Let’s hope it will alleviate our concerns. After all, older people matter too,” said Jan Pentecost.


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