Switching to Paper Statements

Roland_Flagg

I need more physical statements as proof of ID.
I have a Sant 123 lite account and Nationwide Flexdirect account.

If I go from from online to paper statements with one or both will there be any fees or loss of perks (such as 123 cashback on bills)?

Thanks.

18cc

You cannot go paper statements on the Nationwide FlexDirect account it is paperless statements only
if you want statements you will have to either upgrade it to a flex Plus account or downgrade it to a flex account

20SmthngSver

You can go in branch and ask them to print out a mini-statement at the counter. Also, most banks tend not to charge for one copy anyway if you're paperless.

To be honest, most people now accept downloaded or printed online copies, as that's how it's going. My housing conveyancer said that they accept online copies because of the increasing online banking usage.

Banks say it's to be eco-friendly as a veiled excuse for it simply saves them money, not that the savings get passed on to the customer at all.

eskbanker

20SmthngSver wrote: »

Banks say it's to be eco-friendly as a veiled excuse for it simply saves them money, not that the savings get passed on to the customer at all.

If only FlexDirect paid market-leading interest and 123 Lite offered a generous cashback benefit, eh?

20SmthngSver

eskbanker wrote: »

If only FlexDirect paid market-leading interest and 123 Lite offered a generous cashback benefit, eh?

Not really. Natiownide funds the interest paid on that account (for one year) with no charges by charges on other accounts and products (mortgages and insurance) and distributing the cost to make it look like it's free, but someone is paying for it in some way.

Santander's both have account fees and there's most likely some kind of benefit contract from the companies you pay the direct debit to aswell which sees some of it come back to Santander. Santander gives you some interest and cashback then takes a bit back off you. They could just lower the %'s and not charge and people would receive the same still.

System

Can you not go online and print a statement out? I have just checked my Nationwide FlexDirect and it is perfectly possible to do that (in other words, I just did it!!). I have done it in the past with my old Nationwide Flex Account and the printed statement is quite acceptable as ID.

Wouldn't know about Santander 123 Lite, but I have just had a go with my Santander Business Account and have printed off a statement as a PDF document from there too.

Hope this helps.

Ben8282

Do you really want to use a bank statement as proof of ID? Would perhaps a utility bill not be better?
Do you really want to provide whoever with a complete record of your financial transactions over the last statement period?

londoninvestor

Ben8282 wrote: »

Do you really want to use a bank statement as proof of ID? Would perhaps a utility bill not be better?

Do you really want to provide whoever with a complete record of your financial transactions over the last statement period?

But then non-paperless utility billing tends to cost too. Water bills are OK, but generally they're annual, and often a bill needs to be less than 3-6 months old to be accepted.

I have an Ulster Bank savings account with a minimal balance and almost no transactions, but it provides quarterly paper statements, which is ideal for ID requirements.