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    • Seagull27
    • By Seagull27 6th Dec 17, 10:41 AM
    • 577Posts
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    Seagull27
    On line Statements ONLY - is it a bad idea to do away with paper statements?
    • #1
    • 6th Dec 17, 10:41 AM
    On line Statements ONLY - is it a bad idea to do away with paper statements? 6th Dec 17 at 10:41 AM
    Hi all

    I know January is always a good time to sort out old junk, but I've started early this year and am going through all my old paperwork...

    I love the idea of paperless statements, and where possible I was planning to download as much as I can from each of my bank accounts/credit cards, and then get rid of any paper copies where I have the downloaded equivalent.

    Then I read this:

    https://www.moneysavingexpert.com/news/banking/2012/12/dont-let-online-statements-wreck-mortgage-and-benefit-chances

    ... and on reflection thought it might not be such a good idea. But the article is 5 years old and I wondered if much has changed in that time? Are companies more accepting of on line statements now? Or are the warnings from the article still relevant today?

    As a side note, my .pdf Halifax CC statements block out 6 digits from the credit card number, which I thought was a great idea. But neither Virgin nor Post Office do this, and I'm not enamoured with the idea of having my credit card numbers sitting there on my hard drives...

    Thoughts on any of the above would be most appreciated.

    Many thanks
Page 1
    • tempus_fugit
    • By tempus_fugit 6th Dec 17, 1:14 PM
    • 329 Posts
    • 311 Thanks
    tempus_fugit
    • #2
    • 6th Dec 17, 1:14 PM
    • #2
    • 6th Dec 17, 1:14 PM
    There are still a few organisations that need paper statements, and not photocopies of ones downloaded from online banking. An example is pension companies. I recently drew down on a pension and they wanted paper statements from the bank that the money was to be transferred to, and we didn't have any. However, a trip to the nearest branch and a stamped printout was fine. I think maybe it might be an idea to still get statements from at least one bank, although at the moment all of ours are online only. I'll maybe have a rethink about our own setup now.
    Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.
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