MSE News: Don't let online statements wreck mortgage and benefit chances

mime20

This probably isn't an issue for people applying for mortgages & loans as they are planned events.
Where it could be a real issue is for people made unexpectedly redundant & having to claim benefit - like my cousin. He knew the firm he worked for was in trouble, but wasn't expecting to end his shift and the owner then to tell him and his mates that the firm was closing with immediate effect and that their wages weren't being paid and they weren't getting redundancy either! Luckily (!) he did still get paper statements and could go sign on next day, (he eventually got some redundancy from goverment scheme, but not all the wages and holiday paid he was owed).

UsetheFORCE

mime20 wrote: »

This probably isn't an issue for people applying for mortgages & loans as they are planned events.
Where it could be a real issue is for people made unexpectedly redundant & having to claim benefit - like my cousin. He knew the firm he worked for was in trouble, but wasn't expecting to end his shift and the owner then to tell him and his mates that the firm was closing with immediate effect and that their wages weren't being paid and they weren't getting redundancy either! Luckily (!) he did still get paper statements and could go sign on next day, (he eventually got some redundancy from goverment scheme, but not all the wages and holiday paid he was owed).

Normally, they will accept a printout if it is verified by a bank stamp. This hasn't been an issue for either the DWP or various councils.

Regards

hanlou007

HSBC tried to charge me £1 per sheet........soon sent it for free when i told them i would move all my accounts

jtk174

UsetheFORCE wrote: »

I doubt very much there will be a charge since the moment that happens, I will switch back to paper statements...

..

Indeed the charge will probably not be that small. It cost me £114 to get statements printed as part of a divorce information gathering exercise. While I was able to print 6 months statements directly, anything older was not accesible to me online. The Alliance and Leicester ( Santander ) charged me a flat rate per page.

Now, I always download a PDF file of each months statement before it becomes inaccesible. I did change Banks though.

I appreciate this is slightly different from the stories reported but another example of how everyone with an online account can find themselves in an unexpected situation and screwed.

Hominu

Nationwide told me that there is no charge for statement requests for the previous 15 months, so long as you didn't already receive a paper statement for that month. Statements older than 15 months will incur a charge.

I've got this as secure message from them, so if they try and charge me in the future, I'll send this message back to them.

innovate

Nationwide lets you print off all your statements since you started the (Flex-)account. They have a 'duplicate' watermark but otherwise look just like a paper statement. I had them accepted in various places as proof of address.

noh

innovate wrote: »

Nationwide lets you print off all your statements since you started the (Flex-)account. They have a 'duplicate' watermark but otherwise look just like a paper statement. I had them accepted in various places as proof of address.

Not quite.
They keep the previous 6 years of statements as pdfs.

innovate

Six years isn't so bad.....I can see 12 months worth of statements [as pdfs], for each of the last 3 years (which is how long I have had this particular Flexaccount) - but in any case, for ID purposes, you have to provide a statement that is less than 3 months old, so having access to just the latest statement is enough.


Screenshot:
http://imageshack.us/photo/my-images/442/nationwide.jpg/

Nine_Lives

Never seen the problem in reports of 'the obvious'.

More than this, i've never seen the point in people whining about it either.

If it's obvious to you, then forget about it, don't continue reading it or even begin reading it. Carry on with your day & keep smiling.

If it's not obvious to you, then congratulations, you've just learned something new, or realised something. Every day is a school day.

IMO, those who jump up & down saying how obvious something is were generally those kids at school who liked to show off & tell people how much they know. Yes, you're clever, have a cookie.

noh

innovate wrote: »

I can see 12 months worth of statements [as pdfs], for each of the last 3 years (which is how long I have had this particular Flexaccount) - but in any case, for ID purposes, you have to provide a statement that is less than 3 months old, so having access to just the latest statement is enough.


Screenshot:
http://imageshack.us/photo/my-images/442/nationwide.jpg/

Yes it does appear to be 3 years worth or maybe starting from 2009. That is what I have available.
I opened my Flex Account over 24 years ago in May 1988.