HSBC Forcing online statements

spenderdave

I have always preferred paper statements, back to the days when I had  business account. In November I had an email from HSBC saying my current account would be switched to online but I could change back in my preferences. I realised  last month that not only had my current account gone online but also my credit card and probably Global Investment investments. The latter is particularly annoying as they send you an email saying there is a new document for you but give no idea of what it is about... Today got another email saying due to an error my credit card has been switched to online but that will be corrected 'in due course'. Online statements are OK to a point but it looks as if their pressure to go that way has backfired a bit...

Retiredwelshman

So are you complaining here or pointing out that they would prefer you to have online statements?

Matt8888

I don't follow your point, but the reason your email only says there is a document waiting is because email is more easily hacked than a secure online bank account. As for preferring paper statements, all banks will only be going one way with that one, so it's probably best just to get used to it. If you can post on here, I don't understand why you would have a problem with online statements. These are quicker, more reliable, cost less money (so save us all money, as banking customers) and are better for the environment.

EssexExile

spenderdave said:

I have always preferred paper statements, back to the days when I had  business account. In November I had an email from HSBC saying my current account would be switched to online but I could change back in my preferences. I realised  last month that not only had my current account gone online but also my credit card and probably Global Investment investments. The latter is particularly annoying as they send you an email saying there is a new document for you but give no idea of what it is about... Today got another email saying due to an error my credit card has been switched to online but that will be corrected 'in due course'. Online statements are OK to a point but it looks as if their pressure to go that way has backfired a bit...

I'm happy with online statements but the bold bit really annoys me. Some banks, Santander for example, tell you what "important document" has arrived in your inbox. Credit card statement needs dealing with, current account statement doesn't. Other banks, TSB for example, just tell you there is an "important document" waiting for you. Often it isn't important.

colsten

Matt8888 said:

I don't follow your point, but the reason your email only says there is a document waiting is because email is more easily hacked than a secure online bank account. As for preferring paper statements, all banks will only be going one way with that one, so it's probably best just to get used to it. If you can post on here, I don't understand why you would have a problem with online statements. These are quicker, more reliable, cost less money (so save us all money, as banking customers) and are better for the environment.

.....and if you do need a printed copy despite the advantages of online statements, just print your online PDF statements off on your home printer.

societys_child

"important document"

Lol. I've always wondered what they'd say if it was something really important.

Roger.Wilco

colsten said:

.....and if you do need a printed copy despite the advantages of online statements, just print your online PDF statements off on your home printer.

Unfortunately, there are still places & situations which have not caught-up with the fully digital world... where they demand "original" paper versions of Bank Statements, Utility bills, etc...  

I realize my situation is not valid for many - but it was only in Feb last year - that I had to take a stack of "original" paper versions of various documents into an International Bank in London to open a foreign bank account.  One of the mandatory nonnegotiable "original" paper documents was... you guessed it - Bank Statements.

Given that if you go into a bank branch and ask for a print-out of bank statements - they usually just print it off on the laser printer beside them - sometimes they will stamp the copy with an official Branch stamp.  Back eons ago, in 2019 when I applied for a VISA for a specific Asian country at their embassy in London, they rejected the bank printed (and stamped) statements as not valid - demanding "real Bank Statements".

After being caught a few times in the past - for the above reasons - I have a few of my Bank Accounts providing Bank Statements still as paper versions in the mail.  After this pandemic - I will be interested to see if the requests for paper version of documents decrease - but only time will tell.

One of my complaints towards HSBC - is that if you use their Android App - when you first sign-in - it will automatically change your communication settings to electronic only.  They didn't warn you about it - it just happened behind the scenes.  I don't know if that is still the case?  But I found that underhand - if you are going to change existing settings - warn the user!!!

username

Matt8888 said:

I don't follow your point, but the reason your email only says there is a document waiting is because email is more easily hacked than a secure online bank account. As for preferring paper statements, all banks will only be going one way with that one, so it's probably best just to get used to it. If you can post on here, I don't understand why you would have a problem with online statements. These are quicker, more reliable, cost less money (so save us all money, as banking customers) and are better for the environment.

Ultimately the only people who do benefit from the savings of online bank statements are the shareholders of the bank.

Not us mere clients, I don't see them bumping the interest rates on savings upwards or ceasing the closing of branches because people choose not to have paper statements.

I can understand the beef of the original poster of the bank unilaterally changing preferences from whatever had been set originally.

I had a similar situation with Barclays, after having seen some guff sent to me in an app notification espousing the supposed benefits of paperless this and that, and saying that because I used their internet banking they would change it to paperless by default.

I didn't want to take them up on the option and tried to change it back via the app, but the option would not stick. I tried via internet banking on the computer, and it would change back whjen I logged out. It took a complaint to be able to change it back to its former state - with paper on the main account and less frequent statements on the others.

It's this kind of behaviour that rightly annoys me - fair enough give the option to the client and do the sales pitch - but do not change what is already there or try and force the unwanted option. It's poor service to do so, the client's choice should be respected.

[Deleted User]

username said:

Matt8888 said:

I don't follow your point, but the reason your email only says there is a document waiting is because email is more easily hacked than a secure online bank account. As for preferring paper statements, all banks will only be going one way with that one, so it's probably best just to get used to it. If you can post on here, I don't understand why you would have a problem with online statements. These are quicker, more reliable, cost less money (so save us all money, as banking customers) and are better for the environment.

Ultimately the only people who do benefit from the savings of online bank statements are the shareholders of the bank.

Not us mere clients, I don't see them bumping the interest rates on savings upwards or ceasing the closing of branches because people choose not to have paper statements.

I can understand the beef of the original poster of the bank unilaterally changing preferences from whatever had been set originally.

I had a similar situation with Barclays, after having seen some guff sent to me in an app notification espousing the supposed benefits of paperless this and that, and saying that because I used their internet banking they would change it to paperless by default.

I didn't want to take them up on the option and tried to change it back via the app, but the option would not stick. I tried via internet banking on the computer, and it would change back whjen I logged out. It took a complaint to be able to change it back to its former state - with paper on the main account and less frequent statements on the others.

It's this kind of behaviour that rightly annoys me - fair enough give the option to the client and do the sales pitch - but do not change what is already there or try and force the unwanted option. It's poor service to do so, the client's choice should be respected.

I found Barclays internet banking to be fairly clunky and unstable- that and the lack of Google pay was the reason i ditched them. Online statements tend to be the default now and you can usually opt out by jumping through a few hoops..

spenderdave

Remember that online only works if you have an internet connection. As it happens mine went down the other day and I was without a connection for several hours. Also something like a credit card bill needs action. A paper copy you can put in a prominent place to pay next day. It is easy to forget about a reminder email after you have read it.
I realise many on here prefer online but I was really moaning about the HSBC policy of switching to online unrequested and also doing it for all my accounts rather than just the current account suggested in the original email, as per the comments from username.

Thrugelmir

username said:

Matt8888 said:

I don't follow your point, but the reason your email only says there is a document waiting is because email is more easily hacked than a secure online bank account. As for preferring paper statements, all banks will only be going one way with that one, so it's probably best just to get used to it. If you can post on here, I don't understand why you would have a problem with online statements. These are quicker, more reliable, cost less money (so save us all money, as banking customers) and are better for the environment.

Ultimately the only people who do benefit from the savings of online bank statements are the shareholders of the bank.

We all benefit. The waste of resources to produce and send you paper that you've really no need of.