AARP Hearing Center
Lessons from the U.K.
The AARP BankSafe Initiative works with financial organizations across the U.S. to encourage the voluntary adoption of proven corporate policies that protect consumers and prevent exploitation.
BankSafe Promising Practices showcase innovative services and initiatives from around the world, illustrating examples how organizations are improving services and protections for older adults.
In this video series, learn how financial industry experts in the U.K. are implementing promising practices to meet consumer needs and safeguard their assets through BankSafe's four pillars: preventing financial exploitation; empowering financial caregivers; helping those with dementia; and making the banking environment easier to access..
Business Strategies for Preventing Financial Exploitation
Empowering Financial Caregiving
Helping Those with Dementia
Making the Banking Environment Easier to Access
Organizations Leading the Way
Carer Cards
One large financial organization offers a Carers Card Account for customers who need assistance, such as withdrawing money from an ATM or shopping when they are unable to do so themselves. This account is separate from the customer's main account and allows them to provide debit cards to up to two trusted individuals, such as a carer, family member, or friend. Customers can transfer up to £1,500 to the Carers Card Account, enabling the cardholders to withdraw cash or make purchases using their own card and PIN. Both the customer and the carer can easily track spending through regular statements, in branch, over the phone, or via Online and Mobile Banking. The carers receive separate login details for Mobile and Online Banking, allowing them to make Faster Payments when the customer needs additional support.
"Tell Us Once" Policy
A leading U.K.-based organization offers a 'Tell Us Once' service, allowing customers to inform any bank representative (in branch, over the phone, or via secure chat) if they need extra support. This information is then recorded for all colleagues to reference when assisting the customer. Whether it's a cognitive or physical impairment, a sudden change in financial situation, difficulty communicating, or a mental health issue—whether permanent or temporary—customers only need to share their needs once. The organization promises, "Tell us once how we can help, and one of our advisors will add a note to your account so we can assist you better." This service has supported thousands of customers, particularly those with cognitive decline or dementia, as staff can adjust their language, tone, and speed of speech without requiring the customer to repeatedly explain their situation.