Money Magazine Cites Best Banks for Seniors
EVERSAFE CITED IN PIECE ON SENIOR-FRIENDLY BANKS
Money evaluated 18 of the largest brick-and-mortar banks in the US to determine the best banks for older consumers. To complete their study for 2019, Money consulted the recommended guidelines outlined by the Consumer Bureau and AARP. Money then sent a checklist to each bank, asking if they require staff to undergo elder financial fraud training, permit customers to set up alerts for large withdrawals and suspicious activity, report potential fraud cases to the authorities, utilize software to monitor account activity—and offer the ability to set up read-only access to accounts and advanced consent to alert trusted contacts when there is suspected fraud. The winning banks this year were TD Bank, with Honorable Mentions to PNC and Chase. EverSafe’s fintech solution was referenced in the piece, which was focused on financial institutions’ efforts to address fraud in later life.