Important: TSB Classic Plus Account - Paperless Correspondence now live !!

mel48rose

dicky73 wrote: »

Just to be clear butterflymum, I have recently been paid my interest and had already selected paperless statements. Does your post mean that I now have to change something else? I find all this banking stuff pretty confusing. Thanks in advance.

Same here, very confusing!! Could someone clarify please, thanks

Fruit_and_Nut_Case

dicky73 wrote: »

Just to be clear butterflymum, I have recently been paid my interest and had already selected paperless statements. Does your post mean that I now have to change something else? I find all this banking stuff pretty confusing. Thanks in advance.

mel48rose wrote: »

Same here, very confusing!! Could someone clarify please, thanks

Yes folks, it is now a two-stage process. You have to select Paperless Statements (which you presumably have done already) AND Paperless Correspondence.

innovate

The original T&Cs stipulated that both, statements and correspondence [when available] must be set to paperless to receive interest. The correspondence option has only just become available and is defaulted to 'paper'.

Thus, if you wish to continue to receive interest, you have to set correspondence to paperless. You don't have to do anything if you don't care about interest, or if you prefer to receive correspondence in the snail mail.

YorkshireBoy

dicky73 wrote: »

Does your post mean that I now have to change something else? I find all this banking stuff pretty confusing.

Log in
Scroll down to "Your account tools" (bottom right)
Click "Manage online and paper preferences"
Tick everything!

PeakOwl

Thanks to butterflymum and graham1 for alerting to this.

Can't help feeling this is a PR own-goal for these banks, as its obviously designed to catch new customers out, who'd already thought they'd taken out the option to go paperless. You have to ask is it worth it in the long-term, for the short term savings in interest payments that they'll likely make?

butterflymum

As innovate has said, default settings are 'paper' - ie you have to 'choose to opt-in for paperless', it isn't automatically set.

Somewhat silly, in my opinion, given that, for this account, to meet the terms and conditions for interest, paperless has to be in force for both statements and, now that it is available, correspondence.

Why they couldn't just have this account set, as default, to paperless, (albeit with a requirement, at application stage, to read appropriate explanation and tick understanding and acceptance boxes) seems odd. After all, I don't think many folks would be choosing the account in the first place if they didn't want to bother with receiving the interest.

But, that is the hoop that has to be jumped through and, thankfully, not too difficult a one. Hopefully, all those who opened their accounts before the 'paperless correspondence' aspect went 'live', have kept it in mind to keep checking regularly for it 'going live' or, see from this thread (and others) that it has, and realise they need to take action.

butterflymum

Despite my feelings in the previous post, to be fair to TSB, it is worth reminding folks that it was always a clear requirement when the account first became available to open, that paperless correspondence, when it became available, would need to be chosen and that this was separate from having to also choose paperless statements.

Given that some on this thread have said they were 'not aware/hadn't realised', it seems a timely opportunity to remind folks of the importance of reading terms and conditions (boring as it might seem) before choosing any bank account.

innovate

butterflymum wrote: »

Why they couldn't just have this account set, as default, to paperless, (albeit with a requirement, at application stage, to read appropriate explanation and tick understanding and acceptance boxes) seems odd. .

They probably can't win. If they defaulted to paperless, they'd probably get lots of people whinging that they never got any statement or correspondence, and it could cost them valuable time to deal with such whingers.

There is no excuse, however, for slipping in the new option without prompting people that this option is now live. I don't think it is malicious, more likely they are just not thinking about their customers. But may be we all have letters in the post reminding us that we should check our settings................

butterflymum wrote: »

Given that some on this thread have said they were 'not aware/hadn't realised', it seems a timely opportunity to remind folks of the importance of reading terms and conditions (boring as it might seem) before choosing any bank account.

Never ceases to amaze me how many people can't be bothered with reading even the simplest T&Cs.

Vortigern

PeakOwl wrote: »

Can't help feeling this is a PR own-goal for these banks, as its obviously designed to catch new customers out, who'd already thought they'd taken out the option to go paperless.

I don't think they're deliberately trying to catch people out. There's no benefit to them in annoying a large group of new customers. I expect we will all be getting a letter about paperless correspondence from TSB within the next few weeks - except for those of us who have already opted out.

I could wrong though.

B_G_B

I remember seeing the need for paperless correspondence on application, before it was available. Having said that, i’m sure it would have passed me by without a nudge now that it is available. Thank you in this instance to MSE. :beer:

Now that I have set paperless correspondence, will I get some paperless correspondence, reminding me of the need for paperless correspondence? If people get a reminder by post and I don’t, I will feel very left out. Time for me to lie down in a darkened room now.:rotfl: