First Direct - Statement Issue

takman

Instead of printing the statements out you should just save them to your computer in PDF format. If you really want paper statements then you might as well just let them print and send you them to save your paper and ink! Like the poster above said.

But I think the biggest issue here that your wife has no input in the management of the account and has no quick online access to it!. What happened if you died or were taken into hospital and your wife had to manange your finances. It would just add to her stress that she has to work out everything from scratch and spend time setting up online banking when I'm sure that will be the last thing she would want to be doing at the time!.

I think it's really important the couples manage finances jointly so they both understand it and know how to do it. I've personally spoken to someone who had to go though plies of paperwork and spend hours and hours trying to sort out her husbands finances after he died. It was not something she enjoyed doing at all!.

spock999

Oh my I do seem to have stirred things up!! Lots of unwarranted assumptions here. Just to set the record straight.

The FCA have a consumer section to their website where they offer to answer queries concerning various subjects one of which is banking rights. I have always thought that the straightforward way to find things out was to ask questions. So I just asked the question. No complaint just a simple question. It is helpful because you can then act in a more informed manner!

My wife is somewhat offended by your other major assumption/suggestion - that she is a computer illiterate. I have never said she doesn't have access you have assumed it. Sounds a bit like stereotyping to me! She uses the computer regularly, has full online access to all of our savings, investments and current accounts and is quite comfortable accessing them and using them as necessary. She definitely is registered with FD and has the special gizmo for logging on. She just doesn't need to log on to this account and objects to being forced to.

So I am arguing principle here. Does forcing my wife to log on from time to time ensure that the account is managed correctly? None of you have addressed that point. You are just saying do it because it solves the statement issue. Does she need to log on to see that the account is managed correctly? In both cases I think not.

I have an inbuilt problem with regulations or procedures that purport to address a problem but don't or cannot do so. Why make us jump through hoops when it doesn't address the problem. That is why I am getting somewhat irritated.

colsten

Ballard

I just don't think that any of us understand your logic. I think that we probably all feel that your wife should have the ability to access the account in case of emergency and it's illogical to print your own statements and bemoan the arrival of a postal version.

I don't see the act of logging on a couple of times a year as jumping through hoops but I suppose that we all have our own definitions.

spock999

OK. This is an end to it!

bigadaj

spock999 wrote: »

OK. This is an end to it!

The site is all about opinions, you've had a few of these and just have to make up your own minds.

If that's a banking requirement of first direct you either accept it or take your business elsewhere, it's a free country with reasonable competition in banking provision.

sausage_time

The whole thing is a waste of time and paper. My wife will look at the Leeds address on the back of each envelope and put it through the shredder on the assumption that I look after that particular account. Or if they are addressed to both of us, I may get that task. At least our hamster will have a monthly supply of bedding. We have worked hard at reducing confidential mail being sent though an unreliable and insecure channel (which is what Royal Mail has become sadly), and FD getting in the way of that.

BTW, my wife has her "own" joint account where her salary, expenses, and direct debits are processed and is happy to take care of that one. So it's not a case of being a Luddite etc.

spock999

You may be interested in the reply from the FCA.

They gave me a link to the relevant regulation - BCOBS 4.2 Statements of account.

The regulation sounds basically sensible as I would hope. The relevant points from the first clause are as follows:

"

1. (1) A firm must provide or make available to a banking customer on paper or in another durable medium such regular statements of account as are appropriate to the type of retail banking service provided, but need not do so where:
   1. (a) the firm has provided a banking customer with a pass book or other document in a durable medium that records transactions in relation to the retail banking service;
   2. (b) the retail banking service is provided at a distance by means of electronic equipment where the banking customer can access his account balance, view transactions and give instructions in relation to the retail banking service at a distance by such means;
   3. (c) a banking customer has elected not to receive periodic statements of account, and for so long as such election is in force; ...........etc
2. (2) A firm must not charge for providing information which is required to be provided by (1)."

So I should be able to opt out of paper statements! Whether FD will agree to it is a different matter. I will discuss it with them but have no intention of formally complaining.


Clearly we have different opinions and I see no point in discussing the matter any further.

System

Spock - I think you're actually Romulan.

Anyway, the other reason why bank will want someone to logon periodically (or get statements) is to check the validity of transactions.

You get some people coming on here complaining that they've been paying a unwanted direct debit for several years and so forth