Banks not making statements available in the post

Yahoo_Mail

moneymonitor said:

This particularly applies to internet operated accounts.

 

Don't sign up to an internet operated account if you don't want to operate it via..the internet?

What next? People moaning that they can't access their branch operated account via the phone, or their phone operated account by carrier pigeon?

whitesmith

As far as I am aware are all of the High Street Bank allow postal statements apart from the Nationwide FlexDirect account

no idea about online banks but I suspect as they are online then the statements are also no online

AnotherJoe

I can think of some serious downsides to the living from such a rule. 

But I can see there is an issue, and perhaps a way to fix it would be a central register, for which the keyword is name and national insurance number and which can only be accessed by someone who has either a death or probate certificate or POA.

moneymonitor

eskbanker
Great idea.  Didn't know it existed.  Am going to site to sign up.

coachman12

Yet another warm welcome for a newbie with a valid point to make !! Don't worry moneymonitor, there ARE friendly and helpful posters on this site, other than the 24/7s. Good luck with your campaign , the aim of which many folk support. 

mikb

LHW99 should have said:

IMO its not the banks wanting to cut the use of paper that is the issue, but other companies (eg mortgage lenders and those very same banks) wanting paper copies of everything and not wanting electronic printouts (not all of them though I hasten to add)

Fixed that for you!

It is either hypocrisy, or massive left-hand-right-hand incompetence that banks (and utilities, and local councils) are so keen to push people to go paperless to "save money, save time, save trees, secure their account from those postal thieves that have stolen your statement" etc. while at the same time requiring a printed, letterheaded, original  statement or bill when opening an account/closing an account.

Any attempt to provide them with a .PDF of that item (as sent by the originator) is met with refusal, as it cannot be trusted -- you could have tampered with it. Nor is an email acceptable. Nor a printout of the PDF onto paper. Nothing but a proper bill will do.

Well, you go back to printing them, along with your like minded businesses, and we can all get on with things. Or, stop telling people to "get with the modern technology" while you refuse to do the same.

spenderdave

For information, in the past couple of weeks both HSBC and NS&I have emailed me to say my statements will now be only online. HSBC suggest I can switch back via the website but no option for NS&I.

Xenon

moneymonitor said:

eskbanker

I am not missing the good causes aspect or that there is an independent body set up to manage the unclaimed money.

If family or relatives who could be struggling financially (or not) have no clue about these funds then it doesn’t impress me that the banks/building societies can eventually distribute the money to good causes or, that those entitled ‘might’ discover the existence of their entitlements.

Those entitled should be able to get access and banks/BS sending out 2 or even 1 statement per year will give them a better chance. The odd statement in the post should have a significantly positive effect in discovery. If giving to charity it should be the choice of those entitled to the funds.

Your quotation of legislation and official handbooks does not support those who should be entitled and you can bet your life had a strong hand in creating the present regulations.

Your suggestion about ‘my lost account’ facility only refers the the account of the person searching ie. my lost account. It cannot see that it provides for searching for another persons account whether deceased or not. This would presumably cause breach of confidence issues.

There is provision for executors searching for existence of deceased accounts but look at the limitations below especially the last sentence:

There are instances where the executors of wills have reason to believe that there are accounts missing from the personal financial records available to them. In these circumstances we recommend a search of the five largest banks (HSBC, Barclays, Lloyds, Royal Bank of Scotland and Santander), the use of the geographical facility for building societies and a search of NS&I. This service only traces lost accounts (generally untouched for 15 years) and so cannot be used to trace active accounts.

I will not go further but feel I have made my point. Maybe an MP can take this matter up.

Actually banks prefer to send a team of lethal highly trained assassins to silence random forum posters for daring to suggest such claims - rather than sue them of course.

A true fact i believe
Hope i don't sued !