[ppetty]

If it still starts up what prevents its use as a mobile phone?

If it’s dead and you’re looking to replace the iPhone mini 12 or 13 (refurbished or new 13) are great options.

[dijit]

Eventually your banking applications will fail to support the old (potentially insecure) version of iOS.

[ppetty]

That makes sense, to an extent. But tossing it in a drawer, from others’ posts, seems extreme. Calling, texting and many other functions may work well for a while. Bank apps may not get updated leaving web access as an alternative though maybe convenient.

[dijit]

Can't speak for everywhere but in Sweden there is the rise of "bankID" which is a type of authentication App for your phone.

I don't think they even offer the physical card+cardreader combo anymore.

That App is needed for access to Internet Banking via a web-browser as it sends a challenge to the App.