credit cards/paperless

Moggles_2

Kerensamad wrote: »

Barclaycard are refusing to give me paperless statements. When I questioned why, they've twice told me that 'as a financial institution they are legally bound to provide paper statements on all accounts with balances owing on them'....

Well, that's remarkable because Barclaycard Breathe is paperless :rolleyes:

Moggles_2

Moggles wrote: »

One thing to bear in mind if you're going paperless:

When applying for credit, opening savings accounts, current accounts etc., the new provider may ask for original statements as proof of your identity. Most institutions do not accept internet statements, as they are not classed as originals. If you require an original, you'll be charged a fee for the privilege.:rolleyes:

What's more, most will still continue to post you all manner of junk mail in an effort to sell insurance, personal loans etc. It's only the monthly statements that are paperless.

PROLIANT

Moggles wrote: »

One thing to bear in mind if you're going paperless:

When applying for credit, opening savings accounts, current accounts etc., the new provider may ask for original statements as proof of your identity. Most institutions do not accept internet statements, as they are not classed as originals. If you require an original, you'll be charged a fee for the privilege.:rolleyes:

Yes that can sometimes be the case, but this comes down to old skool underwriters and branch rats who should have retired 10 years ago, modern ID systems are in use now by the like of A&L, Capital One, Monument and a few more I could mention, the good old days of getting your photo taken and fetching every "paper" document that you own to prove your ID are over and the stragglers need to throw the towel in and find a nice golf course to spend their retirement on. I have been a victim of this old skool banking modus operandi and the stupid woman at the branch was reading ID requirements for new accounts from 5 years ago, I kindly told her to go and check with her manager about the fact they ID you via electronic systems and she came back looking ever so glum and apologised for her lack of product knowledge.

cardowl

The reason why paperless statements are not issued by all cc's is a recent change in the banking code. Most banks before about a month ago could offer you a cc statement online that had less information than the printed one, ie interest rates bla bla blaa. However the new revision of the banking code says that this information has to be communicated to card holders on a monthly basis whenever there is a balance. So until the companies concerned update there internet banking systems to include the full range of info, they have to send out paper statements whether you like it or not, you can still view them online if you want, you just have to have a paper copy as well.

-owl