AARP Research

BankSafe: Qualitative Research on Banking and Older Adults

AARP has conducted in-depth interviews in the age 50+ market in order to understand attitudes and concerns about banking and to identify issues that may become of greater concern as the population ages.  This qualitative research provides insight into perspectives from the general market and also compares and contrasts the views of the Hispanic, Filipino, and Chinese market segments.

The objective of this research is to probe areas of concern relating to accessibility, safety, consumer protection against fraud and theft, and other topics across 4 market segments.  The study explores consumer attitudes and behaviors about banking (including credit unions) including:

  • How financial transactions are conducted – branch, land line, mobile phone, online, ATM
  • Relationships with banks
  • Methods of communication with the bank
  • Technology
  • Role of other family members in finances
  • Experiences with, and the role of banks in theft and fraud

Key Findings:

  • Most have a trusting relationship with their banks and are open to financial advice provided by banks.

  • Many have not thought about the possibility of needing help.  There is distrust in other people helping with money matters in general.

  • Those who go into the branch tend to have a stronger relationship with their banks.  But even for those who have adopted online banking, most still go into the branch occasionally for transactions that can’t be handled online such as refinance or setting up deposits for social security.

  • Most respondents use more than one bank and/or credit union, but have the most regular interaction with the institution holding the checking account from which they pay bills and debit expenses.

  • Fraud and scams are a big concern for everyone and an area where all would be happy to have assistance from their bank, whether in the form of monitoring or educational seminars.

Thirty-five in-depth interviews were conducted among the general population, Chinese, Filipinos, and Hispanics in New York, NY; San Antonio, TX, and Los Angeles, CA.  For more information, contact Lona Choi-Allum at

Tell Us WhatYou Think

Please leave your comment below.

Search Research

Enter a keyword below to find answers to your AARP Research questions.

Social Media

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.


Member Benefits AT&T Wireless Cell Phone

Members save 10% on the monthly service charge of qualified AT&T wireless plans.

Member Benefit AARP Regal 2

Members pay $9.50 for Regal ePremiere Tickets purchased online.

Walgreens 1 discount membership aarp

Members earn points on select Walgreens-brand health and wellness products.

Member Benefits

Join or renew today! Members receive exclusive member benefits & affect social change.

Rewards for Good

Your Points Balance:

Learn More

Earn points for completing free online activities designed to enrich your life.

Find more ways to earn points

Redeem your points to save on merchandise, travel, and more.

Find more ways to redeem points