LBG paper statement "issues"

Barkin

GTR_King said:

Hopefully better quality statements 

Conquerer 100gsm wove? 

GTR_King

Barkin said:

GTR_King said:

Hopefully better quality statements 

Conquerer 100gsm wove? 

What you mean? 

I meant statements like how they used to be A4 hole punched folded once will do me 

Barkin

Perhaps I should've added a smiley...  It's a high-ish quality paper stock. 

Personally, I'm happy to never have a paper statement drop through my letterbox again. 

GTR_King

Ooh why is that! 

I still happy with my paper bank statements 

Barkin

GTR_King said:

Ooh why is that! 

For me, they've served no useful purpose since I started using online banking many years ago. They got filed away somewhere without really being looked at, until the file got too thick and the oldest got binned. Just seemed terribly wasteful, and I no longer have to concern myself with reams of paper lying around with personal info on it. 

Any info that's on a paper statement I can get online, and on the very rare occasions when I need/want a hard copy I can just print the relevant page/s rather than the whole lot. 

If necessary, I'll download a statement and import to Excel. It's search capabilities are far better than mine. 

And I'm past the point in my life when I needed to provide proof of income - when I have in the past, a handful of payslips was always sufficient. 

GTR_King

I love online banking find it really easy to check my balance but would never go paperless at the moment! 

Prefer paper copies 

Section62

Well it looks like BoS/Halifax have failed to keep their promise to notify "as soon as" paper statements were available again, but I've noticed the option to switch to paper statements is again available in online banking and that updating your settings to paper seems to work (the settings are saved).

Will have to wait and see whether this results in a resumption of paper statements.

Deeply unimpressed with the way LBG have handled this issue, for example by not offering an automatic catch-up of the missed statements once they'd sorted their "issues" out, or automatically changing the paper/paperless settings back to what they were before the fiasco.

Nasqueron

GTR_King said:

Why you think that? 

I know paper copies can be intercepted but rarely happens unless I am wrong!

With digital copies what if the servers go down etc 

I trust paper copies more! 

Just my opinion 

I am not saying you should do statements the way I prefer, it is your choice. I am simply pointing out that it's undeniable that a paper statement, sent through the post, is a much bigger security risk than a digital copy that you get through a secure login. If access is your concern, you can download them and store on backups both local and cloud so there is no issue of losing visibility - though in this age, even having PDFs of statements is largely redundant as apps and websites show all the transactions in real time. A paper copy can be stolen (particularly for people with shared mailboxes), put through the wrong letter box, sent to an old address if you move or even if someone burgles your house, take the statements. A hard copy of any document is simply not safe and it's an entirely redundant process these days to print and post paper to you, I would 100% support banks charging for this option.

Section62

Nasqueron said:

GTR_King said:

Why you think that? 

I know paper copies can be intercepted but rarely happens unless I am wrong!

With digital copies what if the servers go down etc 

I trust paper copies more! 

Just my opinion 

I am not saying you should do statements the way I prefer, it is your choice. I am simply pointing out that it's undeniable that a paper statement, sent through the post, is a much bigger security risk than a digital copy that you get through a secure login. If access is your concern, you can download them and store on backups both local and cloud so there is no issue of losing visibility - though in this age, even having PDFs of statements is largely redundant as apps and websites show all the transactions in real time. A paper copy can be stolen (particularly for people with shared mailboxes), put through the wrong letter box, sent to an old address if you move or even if someone burgles your house, take the statements. A hard copy of any document is simply not safe and it's an entirely redundant process these days to print and post paper to you, I would 100% support banks charging for this option.

So if there's a risk of someone burgling your house to steal paper bank statements then what is stopping them also stealing the device you are using to store your downloaded digital copies locally?

I'd suggest someone taking the risk of breaking into a house is more likely to be stealing a device which might have some sell-on value in addition to (or instead of) the data contained therein, rather than a pile of paper which is only valuable for the data.

I didn't start this thread with the intention of it becoming a discussion about the pros and cons of paper vs digital, but if that discussion is being had then people need to keep it real and not over exagerate the risks either way.  If paper statements were "simply not safe" then I find it odd that the banks were quite happy sending them out without even a suggestion of risk, until the time came that they wanted people to switch to paperless to save them money.  And if the postal system is so dangerous, why do they still send cards, PINs and other correspondence out by that method? One might conclude the risks (when it comes to paper statements) are being somewhat overstated.

GTR_King

I am happy that Lloyds seem to fix the paper statements issue let’s hope the new company dose well & print good quality statements