HSBC Forcing online statements

HobgoblinBT

A self printed bank account doesn’t prove address. It just proves that you have access to the bank account online and a printer.  A paper statement, sent by the bank and received by post that you take into a bank proves that you have access to the postal address so is considered proof of address.

colsten

HobgoblinBT said:

A self printed bank account doesn’t prove address. It just proves that you have access to the bank account online and a printer.  A paper statement, sent by the bank and received by post that you take into a bank proves that you have access to the postal address so is considered proof of address.

I invite you to detail how anyone would spot the difference between an online statement that I printed at home , and one that the bank sent me by post in 100% the same format.

adamp87

General_Grant said:

adamp87 said:

spenderdave said:

Back to my original posting, it is not whether online statements are a good thing (I have mixed views) but the recent action at HSBC where they clearly changed many customers who had been having paper accounts for years to online without even asking them. My own notification last year implied it was just the current account being switched but they switched every other account in error.

I mean to be blunt it’s in the terms and conditions of the account that they can do what they want really. With modernisation it’s rare you get a choice, most time with many banks somethings changed I’ve had a letter a month or so in advance to warn me. Not a choice.

Option is to move and go elsewhere. But I think most already do this, charge or will be doing this eventually 

So you know the T&C for every account that the OP has with HSBC?

It's pretty much a standard clause I'd expect that they change most things they provide in their own service..

General_Grant

adamp87 said:

General_Grant said:

adamp87 said:

spenderdave said:

Back to my original posting, it is not whether online statements are a good thing (I have mixed views) but the recent action at HSBC where they clearly changed many customers who had been having paper accounts for years to online without even asking them. My own notification last year implied it was just the current account being switched but they switched every other account in error.

I mean to be blunt it’s in the terms and conditions of the account that they can do what they want really. With modernisation it’s rare you get a choice, most time with many banks somethings changed I’ve had a letter a month or so in advance to warn me. Not a choice.

Option is to move and go elsewhere. But I think most already do this, charge or will be doing this eventually 

So you know the T&C for every account that the OP has with HSBC?

It's pretty much a standard clause I'd expect that they change most things they provide in their own service..

I looked at HSBC savings account T&C and couldn't find there anything to say they could decide to not provide paper statements.  Perhaps you could.

AstonSmith

colsten said:

I invite you to detail how anyone would spot the difference between an online statement that I printed at home , and one that the bank sent me by post in 100% the same format.

But does the bank use the same format for online vs post?

When NatWest used to send me statements in the post, they were A5 with a peculiar hole punch arrangement on top. Also, there was a purple gradient in the centre. Whereas the online PDF statements are A4 sheets.

Also, the printer involved matters. You might get a good reproduction with a laser printer, but probably not with an inkjet or heaven forbid, a dot matrix...

jbrassy

I don't think it's a bad thing that HSBC are setting paper-free statements as the default option. It's good for the environment by saving paper and reducing CO2 emissions as it avoids having to send millions of pieces of paper out every month.

Also, how often do people need bank statements to verify themselves? The last time I did this was when I remortgaged a few years ago. I rang up First Direct and they just posted them to me. Whenever I've opened a new bank account, ISA, credit card, or anything else, I've never needed a bank statement. Normally I just show them my driving licence or passport. 

A final point, it's generally recognised that it's more of a security risk having paper bank statements lying around your house (and potentially in your wheelie bin) than having them saved online through your online banking portal. 

The Budgeting and Bank Accounts section of the MSE Forum really brings out the luddites. Endless people moaning about contactless payments, branch closures, paperless statements, internet banking, etc. It's 2021 and we live in a developed country! Get with the times!

eskbanker

jbrassy said:

I don't think it's a bad thing that HSBC are setting paper-free statements as the default option. It's good for the environment by saving paper and reducing CO2 emissions as it avoids having to send millions of pieces of paper out every month.

It does smack a bit of hotels suggesting less frequent laundering of towels and linen as if it's some grand altruistic gesture for environmental reasons, rather than the primary motivation being cost saving!

jbrassy

eskbanker said:

It does smack a bit of hotels suggesting less frequent laundering of towels and linen as if it's some grand altruistic gesture for environmental reasons, rather than the primary motivation being cost saving!

Whi cares what the primary motivation is? It saves HSBC money and it helps reduce their impact on the climate so it's a win-win all round. God forbid a business in a capitalist society tries to improve its profitability! If you don't like it, you can always switch to a bank that will send you paper statements. That's how a market economy works. 

Thrugelmir

eskbanker said:

jbrassy said:

I don't think it's a bad thing that HSBC are setting paper-free statements as the default option. It's good for the environment by saving paper and reducing CO2 emissions as it avoids having to send millions of pieces of paper out every month.

It does smack a bit of hotels suggesting less frequent laundering of towels and linen as if it's some grand altruistic gesture for environmental reasons, rather than the primary motivation being cost saving!

Smacks of climate change not being an issue for many people. Until it impacts them directly! 

eskbanker

jbrassy said:

eskbanker said:

It does smack a bit of hotels suggesting less frequent laundering of towels and linen as if it's some grand altruistic gesture for environmental reasons, rather than the primary motivation being cost saving!

Whi cares what the primary motivation is? It saves HSBC money and it helps reduce their impact on the climate so it's a win-win all round. God forbid a business in a capitalist society tries to improve its profitability! If you don't like it, you can always switch to a bank that will send you paper statements. That's how a market economy works. 

Agreed - just to be clear, I wasn't disputing the merit of doing it but just commenting on the sometimes-cynical presentation of reasons, although didn't look to see whether HSBC do actually claim any environmental justification!  Their recent press release about 'evolution' of their branches (aka closing them) was a masterpiece of spin so it wouldn't surprise me....