Accessible accounts? Don't bank on it!

Disabled savers are being hit as the number of accounts accessible in branches has fallen by a quarter in the past year.

Many older savers, particularly pensioners, prefer the certainty of paying in their money at a branch. A year ago, there were 1,025 easy access accounts offering in-branch transactions, compared to just 752 today, according to the research by personal finance website MoneyExpert.com. They may not have access to a computer or may have security concerns about banking online.

But their choice of accounts accessible in branches has reduced as banks close them in favour of offering more tempting deals online. Internet savings accounts are much more cost effective than branch accounts for banks and the research showed savers pay a premium for insisting on having a branch facility.

Sean Gardner, director of MoneyExpert.com, said: "There's been a real shift to online banking in recent years. But with savers now so much more uncertain about the safety of their money, having an account that offers the security of being able to physically make transactions in-branch is an obvious plus.

"Older savers, in particular, like the assurance offered by dealing with their bank face to face, but it seems they're being punished with the rates offered."

All the major high street banks offer transcriptions in alternative formats to improve the customer journey for their visually impaired customers, but more can be done to make their finances more accessible. Providing literature in alternative formats in the banking hall for example and sending out transcriptions as soon as possible after the original documents are produced are just some of the ways improvements can be made.

Also banks need to communicate regulatory mailings with their customers in the preferred format to avoid potential legal action.

TransMedia Link works with many banks, building societies and financial institutions to provide a first class service to their visually impaired customers.

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