Dive into online banking

22 Sep 2020

A new initiative from the Australian Government is helping older Australians to access online banking with confidence.

The online banking course was launched by eSafety Commissioner, Julie Inman Grant, as part of the Be Connected program and seeks to make online banking both safer, and more accessible, to older Australians.

Many seniors are still uncertain about using online banking. While statistics show that two-thirds of seniors undertake online banking at least monthly, many have concerns about the security of their funds when using the platforms.

This course, Ms Inman Grant says, is vital to increasing confidence.

“Online banking has been widely adopted, but for many older Australians, ‘taking the plunge’ can be a huge leap of faith,” she says.

“The idea of having your money accessible and transferrable with one click can be both liberating and incredibly frightening.”

Ms Inman Grant adds that some 75 per cent of older Australians were concerned about the safety and security of online banking.

“So, we designed the course around building their confidence in this area,” she says.

“The course will teach older Australians to transfer funds, check balances, download statements, pay bills – and will also help them set strong passwords, avoid scams, and use safe ways to communicate with their bank.”

The course also features a simulated online bank, called Squirrel Bank, to help older Australians practise their new skills in a “sandbox” environment before taking those skills and applying them to real-world online banking.

“Learning how to access online banking safely is critical for older Australians,” Ms Inman Grant says.

The course modules include:

• Getting started with online banking: Learn what you need to know about online banking and how you can stay safer while banking online.
• Setting up online banking: Learn how to set up an online bank account and what to expect when you use it for the first time.
• Online banking basics practice area: Basic online banking tasks including logging on and off, checking a transaction, downloading a statement and more.
• Managing payments online practice area: Building your skills using the Squirrel Bank practice area while learning more advanced tasks including transferring funds, paying bills, and setting transaction limits.

Australian Banking Association CEO, Anna Bligh, welcomed the iniative.

“We want banking to be accessible and safe for all bank customers. Be Connected will help older customers gain the confidence they need to bank online,” she says.

“Importantly, the module covers both banking essentials and online safety information to help warn people of potential fraud and scams. 

“Remember a bank will never ask for your account details, PIN or passwords.”

The Be Connected program is an Australian government initiative committed to improving the online confidence, skills and safety of seniors.

For more details and to take the course, visit https://beconnected.esafety.gov.au/topic-library/introduction-to-online-banking/.