On line Statements ONLY - is it a bad idea to do away with paper statements?

Tunstallstoven

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

tempus_fugit

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.