Spanish banks have extended cashier hours across many branches. A significant portion of offices—81%—now operate with longer hours, a steady increase after the decision to expand coverage between December 2021 and June 2022. This shift has benefited more than six million customers aged 65 and older.
In February, employers’ associations AEB, CECA and UNACC updated the protocol to strengthen banks continuous social and sustainable commitments. The updates build on measures already put in place by the organizations themselves and aim to improve personalized care for elderly and disabled customers. They also committed to producing a semi annual report to track progress.
The follow up document on improvement measures for older people shows that Europa Press obtained that 100% of organizations are advancing in adopting steps to enhance the environment and personalize attention for these groups.
All Spanish banking institutions extended cashier hours from 9:00 to 14:00 in more than 81% of branches. The number of branches operating with extended cashier hours more than doubled from December 2021, reaching 7,908 offices as a result of the new measures.
Some offices face limitations due to their location or business model. Branches situated in private areas or run as company offices may not be able to extend hours. A few single offices also face challenges in adapting to the new schedule.
In the first half of the year, more than six million customers aged 65 and older, roughly two thirds of the total, benefited from in person cashier service between 9:00 am and 2:00 pm.
Additionally, at no extra cost and with 1.6 million personal addresses for customers over 65, calls are being made through specially established lines dedicated to this purpose. This figure is complemented by calls answered directly and personally at branches.
The report also reveals that 93% of banks offer telephone service from 9:00 am to 6:00 pm and that 91% of the ATM network, totaling 37,111 ATMs, already accommodates the needs of this group. ATMs recorded 142,000 events during the period, with an average response time of one day, compared with the protocol’s two business days expectation.
More than 75% of the sector has added these improvements to their web pages and mobile apps
Regarding the adaptation of digital channels with simplified language and clearer presentation, more than 75% of banks have already incorporated these improvements into their web pages and mobile apps.
More than 200,000 seniors receive financial education
In terms of financial education, a total of 236,785 customers aged 65 and older received training in financial literacy, digital skills, or fraud prevention during the first half of the year.
These financial education initiatives are part of the Financial Education Plan supported by the Bank of Spain, the National Securities Market Commission CNMV and the Ministry of Economic Affairs and Digital Transformation.
Approximately 41,000 employees in the banking sector received special trainings to better serve this demographic, bringing the total training hours to over 278,000. The protocol also introduced an extended senior advisor role, though not all entities have adopted this model. By the end of the report, 3,900 specialist workers were better equipped to respond to the needs and demands of the elderly.
The next protocol monitoring report is expected to be released in the first quarter of 2023. In the meantime, the sector will continue efforts to help an aging population adapt to a rapidly digitizing environment.