Credit card company forcing online statements

se12

Hello, 

I bank online with Halifax and they repeated tried to get me to change to paperless statements for my credit card - each time I refuse as I prefer to keep a paper copy for my records.

I've just received an email informing me that they are forcing me into online only statements and I have no choice in the matter.

Does anyone know if credit card companies have a legal obligation to provide paper statements if the customer requests it?

Many thanks

mr_stripey

or just print a copy of the electronic statement yourself if having a paper copy is important to you?

eskbanker

se12 said:

I bank online with Halifax 

[...]

Does anyone know if credit card companies have a legal obligation to provide paper statements if the customer requests it?

https://www.handbook.fca.org.uk/handbook/BCOBS/4/2.html states:

(1) A firm must provide or make available to a banking customer on paper or in another durable medium such regular statements of account as are appropriate to the type of retail banking service provided, but need not do so where:

(a) [...]

(b) the retail banking service is provided at a distance by means of electronic equipment where the banking customer can access his account balance, view transactions and give instructions in relation to the retail banking service at a distance by such means; [...]

which I'd interpret to mean that those who have online access don't have the right to insist on all statements being sent routinely in paper form, although later clauses suggest that copies should be made available on request (possibly at a cost).

Can you share the wording of the email?

CliveOfIndia

se12 said:

Does anyone know if credit card companies have a legal obligation to provide paper statements if the customer requests it?

It's an interesting question - the answer to which I don't know.  However, any business is at liberty to choose not to do business with anyone they choose, so long as it's not based on a protected characteristic (race, religion, disability, etc. etc.).  I guess they could reasonably argue that their T&Cs have been amended to say something like "paper statements will no longer be available" - if you don't agree to the updated T&Cs then you're free to take your business elsewhere.

Must admit, though, I'm with mr_stripey here - it's easy enough to print off your own copy if you want one.  I'm also a bit of an old dinosaur, and have always favoured paper statements for everything.  But every so often I have a clear-out and get rid of old stuff, burning anything "sensitive" (as I don't have a shredder and burning it is cheaper).  But it did strike me what a waste it is - I'm certainly no eco-warrior, but it does seem a waste of paper these days.  So I'm gradually switching over to online statements for most things.

Of course, it saves the company a fair chunk in printing and postage costs as well, so you can't blame them I suppose !

BornSoul

I've had the same email today. I may be being pessimistic but I doubt they'll offer paper statements again.

We’re getting in touch to let you know from 1st November 2023 we’re changing the way we send statements for some credit cards, current and savings accounts. We’re experiencing some issues and may not be able to send as many by post as we normally do. As you use Online Banking, we’ll only send your statements to you digitally. This means you’ll only be able to see them in Online Banking or our Mobile Banking app and we’ll send you an email to let you know when they’re ready. We’re sending you a letter which will include a list of your affected accounts so please look out for this.

We appreciate you normally receive your statements by post, and I’m sorry if this change causes you any issues. We’ll let you know as soon as we’re able to offer you paper statements again.

DullGreyGuy

Most are being pushed to up their ESG commitments, reducing post (both in terms of paper and vans moving it around the country) will form a small part of that commitment and an easy win. 

se12

Thanks for the replies - the wording I received is the same as posted by BornSoul.

I know that I can printout copies from the online banking website however it isn't the same. Some companies won't accept printed out copies as proof of address which I why I prefer to have an original copy.

BornSoul said:

I've had the same email today. I may be being pessimistic but I doubt they'll offer paper statements again.

I suspect the same - doubt they will go back once they've moved everyone to online statements

northwalesd

I think it's the whole LBG doing this as I have the same email today for my Lloyds bank credit card ( the only Lloyds account I currently receive paper statements for). I can't say it really bothers me that much.

born_again

Or even to save tree's download & save on computer. No real need to have a physical copy 👍

Brie

Anyone know if Halifax is doing this for their bank accounts too?  yes I know I could probably download statements but officially it's my MiL's account and is unable to use a computer so I would suggest they would have to provide them for her (or me as her finance person).

And if someone does download (rather than print) a statement would that be accepted if you needed proof of something on the account?  Printing isn't an option for us as we've no printer but I'm happy to go digital when it's finally necessary (within reason)

eskbanker

Brie said:

Anyone know if Halifax is doing this for their bank accounts too?

A thread just started on the banking board would imply that, but it's not explicitly stated.

Brie said:

yes I know I could probably download statements but officially it's my MiL's account and is unable to use a computer so I would suggest they would have to provide them for her (or me as her finance person).

As above, if an account is accessed online, there's no regulatory obligation to issue all statements in paper form.

Brie said:

And if someone does download (rather than print) a statement would that be accepted if you needed proof of something on the account?

That's surely a question for whoever is looking for proof?