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[Deleted User]

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Daliah

No option but paperless:

• Chase (if you have the right phone)
• Starling Bank
• Nationwide FlexDirect
• Monzo

Nearly all current accounts at all other banks will allow you to go paperless. Some have even now started to make paperless the default. I have many current accounts at all sorts of providers, and I never see a paper statement, and very rarely any other communication by snail mail.

All current accounts are also available with apps, which eliminate the need for any hardware token (HSBC, First Direct, Nationwide etc).

huw01

I think you will struggle to find one that won't have a physical connection with a UK address for mail delivery.
Monzo, Starling, Chase all of the new banks will deliver the debit card to the physical address
That would be a check for the bank that the person is at the address, and any undelivered and returned mail would activate processes in the bank.
May I ask why it is important that no mail is delivered ?

Molehusband

MitzEclipse said:

Hello all

First time posting - quite a plethora of info here - great to be here.

I am looking for suggestions for a Bank high level requirements:

- a current account by a proper UK regulated bank (so I can pay a UK mortgage) so cannot be Wise, Revolut, etc

- where I can open a current account that is fully paperless meaning not only statements/etc but also no need for debit cards. All I need is a sort code/account number

- no need for the physical card to be delivered/activated - I'm happy to use Apple Pay to transact if I need to use a debit card in the shops.

- no PIN sentry or hardware token required - saw a thread where there is a list of banks that do not use hardware to login to online banking

Thanks in advance

I'm very interested in this subject because my focus is on paperless banking. I have a number of accounts with different banks and they generally claim they offer a paperless option. However "paperless" seems to mean different things to different people. In my case I still like to use a credit/debit and cash card under certain circumstances but I daresay you can discuss this with any banks you are considering joining.
While I have no objection to using mobile apps under certain circumstances, I personally am not prepared to use a bank which is completely "app only".

I think currently my preferred "paperless" bank is Santander who is one of the banks I'm currently with, For a number of years all my account statements have been paperless and that's not a problem. Interestingly, in the latest statement I received from them only yesterday they included several pages headed:
Important changes how you receive your statements and documents.

I haven't yet read it in full but it says that all customers who use online or mobile banking will shortly be emailed telling them they will be going totally paper-free for all documentation. It looks impressive and I suggest you contact them to discuss your particular requirement.

An other bank I use is TSB who effectively operate paperless also, as I cannot recall receiving any paper from them for a number of years. It's just that they don't have this Santander-type directive, but again I think it's worth your while talking to them.

[Deleted User]

Thank you for the responses. I travel sometimes, last min and sometimes for a few months at a time hence the irregular access to my post. also I try to keep everything digital and don't like paper - better for the environment and less faff to deal with

I'm more interested in the onboarding of the account, servicing and usage - just want to be fully app/phone - one less thing for someone to steal, don't need to worry about blocking it if so, i don't even carry a wallet with me.

Molehusband

huw01 said:

I think you will struggle to find one that won't have a physical connection with a UK address for mail delivery.
Monzo, Starling, Chase all of the new banks will deliver the debit card to the physical address
That would be a check for the bank that the person is at the address, and any undelivered and returned mail would activate processes in the bank.
May I ask why it is important that no mail is delivered ?

I can answer your last point:

1 paper is insecure. While it doesn't happen that often, it's not unknown for postmen to drop letters through the wrong letterbox. Over the years I've had quite a few letters addressed to people elsewhere, which have accidentally been dropped onto my floor. In some cases the addresses were actually a few streets away. Conversely I have had neighbours pass me letters correctly addressed me that they received.

2 I have a lot of financial accounts, and over the years, the paper would have filled a room, making it almost impossible to locate any single document. Further, in case of unwanted visitors (eg burglars), they could steal key documents and use them as a means to access my accounts. In the event of fire, flood or similar emergency, I could lose masses of vital documents.

3 Having all my documents available electronically I can organise storage such that I can find any individual document quickly (I've stored documents which are decades old). I have technology whereby documents are stored on encrypted storage so, even if a disk is lost or stolen, outsiders cannot open the documents. Further, I don't just have one copy of my document store - I have several including storage in fireproof safe.

4 For a financial provider who has millions of customers, it is significantly cheaper to send documentation out electronically without the cost of paper, processing and postage.

5 Electronic documentation is more environmentally friendly, Santander tell me that annually they send around 109 million envelopes and 208 million pieces of paper. That's equivalent to 32,700 trees they tell me.

Marchitiello

Although you could certainly request not to be issued with a debit card, I believe all the digital banks mentioned above will certainly issue a first one.

Chase will issue straight away on opening with a virtual card that you can add to Apple Pay. You will then receive in the post a numberless physical card (card number, exp date and CVV code needs to be looked up in the app. Since Covid lockdowns and mostly working from home, I too tend to leave the house often only with my phone to go out for quick shopping but I have been in situation where contactless was not working and the physical card was needed (had to leave a full trolley at Sainsbury once to go back home and grab the card as they were having issues with contactless, so IMHO not having a card at all is not yet fully practical.

PS, just checked my Apple Wallet and I have a total of 13 cards currently loaded (which is only a small selection of my total physical cards), 1 x Amex Chargecard, 1 x Amex Credit card, 2 x MasterCard CC, 1 x MasterCard DC, 3 x Visa DC, 3 x Visa Debit, 1 x EUR MasterCard DC (EU Bank), 1 x EUR Visa DC (Fineco UK) 

The_Fat_Controller

Chase is fine until they "hold" a payment for extra checks and you need to contact them !

Daliah

The_Fat_Controller said:

Chase is fine until they "hold" a payment for extra checks and you need to contact them !

That applies to all banks these days.

[Deleted User]

thanks all for the insight - are there any banks that do not need to send a physical card or paper out to need activation/etc?

Daliah

[Deleted User] said:

thanks all for the insight - are there any banks that do not need to send a physical card or paper out to need activation/etc?

No there aren't.