LBG paper statement "issues"

eskbanker

A._Badger said:

eskbanker said:

A._Badger said:

eskbanker said:

A._Badger said:
I very nearly 'changed the habits of a lifetime' and switched banks a few months ago when they closed the last branch in my area but the thing stopping me is that I will eventually need statements from previous years to complete my tax returns (I operate on an unusual tax year). How long would I be able to access Lloyds statements for were I to switch to another outfit?   

A._Badger said:
Right now it is really only that concern that is stopping me from leaving. 

Surely you can just download any statements you need before switching?

Yes, I can,. But I like the convenience (which I have more than paid for) of having both paper copies and online versions which I can quickly search if I'm looking for something. It's not a major reason for sticking but it goes into the balance along with others, like the fact that I have all my Lloyds account numbers memorised.  

Nobody's going to try to force you to do something that you seem to have plenty of excuses not to do, but if it's important to you to have belt and braces then you can download transactions into separate money management programs or just Excel and search it to your heart's content.  It remains best to set the expectation that you won't have online access to account data post-switch, but none of this seems particularly relevant to a debate about paper statements if you're keeping all those as well as having the option to secure digital equivalents pre-switch!

"Plenty of excuses"? That's a needless pejorative, isn't it? I'm a Lloyds customer and over the years have been a good and profitable one for them. However, in common with many bank customers these days, I feel somewhat alienated by the attitudes adopted by some of the banks and interrupting one of the services for which I've paid, the provision of paper statements, is just another example of that alienation.. And did I even remotely suggest anyone was trying to force me to do anything? Yes, there are steps customers could take to mitigate this but that begs the question of why we should have to.   

Seems clear to me that you initially stated that you had one concern preventing you from switching (inability to access statements afterwards) but when a solution to that was put forward, you then cited a desire to search transaction data online and also other reasons, such as memorising account numbers.

Regarding "the services for which I've paid", how much do you pay for provision of your paper statements?

MattMattMattUK

A._Badger said:

eskbanker said:

A._Badger said:

eskbanker said:

A._Badger said:
I very nearly 'changed the habits of a lifetime' and switched banks a few months ago when they closed the last branch in my area but the thing stopping me is that I will eventually need statements from previous years to complete my tax returns (I operate on an unusual tax year). How long would I be able to access Lloyds statements for were I to switch to another outfit?   

A._Badger said:
Right now it is really only that concern that is stopping me from leaving. 

Surely you can just download any statements you need before switching?

Yes, I can,. But I like the convenience (which I have more than paid for) of having both paper copies and online versions which I can quickly search if I'm looking for something. It's not a major reason for sticking but it goes into the balance along with others, like the fact that I have all my Lloyds account numbers memorised.  

Nobody's going to try to force you to do something that you seem to have plenty of excuses not to do, but if it's important to you to have belt and braces then you can download transactions into separate money management programs or just Excel and search it to your heart's content.  It remains best to set the expectation that you won't have online access to account data post-switch, but none of this seems particularly relevant to a debate about paper statements if you're keeping all those as well as having the option to secure digital equivalents pre-switch!

"Plenty of excuses"? That's a needless pejorative, isn't it? I'm a Lloyds customer and over the years have been a good and profitable one for them. However, in common with many bank customers these days, I feel somewhat alienated by the attitudes adopted by some of the banks and interrupting one of the services for which I've paid, the provision of paper statements, is just another example of that alienation.. And did I even remotely suggest anyone was trying to force me to do anything? Yes, there are steps customers could take to mitigate this but that begs the question of why we should have to.   

Do you pay and have you paid for paper statements, eg a monthly/annual charge for this?

Olinda99

you don't pay anything for statements from Lloyds - they are provided free of charge

even if you have an account that has a monthly fee that fee is for the benefits of the account and not for the statements

if you want online and paper statements then the obvious answer is to download the online statements and print them off.

A._Badger

eskbanker said:

A._Badger said:

eskbanker said:

A._Badger said:

eskbanker said:

A._Badger said:
I very nearly 'changed the habits of a lifetime' and switched banks a few months ago when they closed the last branch in my area but the thing stopping me is that I will eventually need statements from previous years to complete my tax returns (I operate on an unusual tax year). How long would I be able to access Lloyds statements for were I to switch to another outfit?   

A._Badger said:
Right now it is really only that concern that is stopping me from leaving. 

Surely you can just download any statements you need before switching?

Yes, I can,. But I like the convenience (which I have more than paid for) of having both paper copies and online versions which I can quickly search if I'm looking for something. It's not a major reason for sticking but it goes into the balance along with others, like the fact that I have all my Lloyds account numbers memorised.  

Nobody's going to try to force you to do something that you seem to have plenty of excuses not to do, but if it's important to you to have belt and braces then you can download transactions into separate money management programs or just Excel and search it to your heart's content.  It remains best to set the expectation that you won't have online access to account data post-switch, but none of this seems particularly relevant to a debate about paper statements if you're keeping all those as well as having the option to secure digital equivalents pre-switch!

"Plenty of excuses"? That's a needless pejorative, isn't it? I'm a Lloyds customer and over the years have been a good and profitable one for them. However, in common with many bank customers these days, I feel somewhat alienated by the attitudes adopted by some of the banks and interrupting one of the services for which I've paid, the provision of paper statements, is just another example of that alienation.. And did I even remotely suggest anyone was trying to force me to do anything? Yes, there are steps customers could take to mitigate this but that begs the question of why we should have to.   

Seems clear to me that you initially stated that you had one concern preventing you from switching (inability to access statements afterwards) but when a solution to that was put forward, you then cited a desire to search transaction data online and also other reasons, such as memorising account numbers.

Regarding "the services for which I've paid", how much do you pay for provision of your paper statements?

I don't how much I pay for this specific feature because Lloyds doesn't itemise it. Nor does it individually itemise any of the functions of the accounts I hold. I have no doubt that they make a profit on my accounts though otherwise they wouldn't host them, nor would other banks be trying to buy current account business.

Perhaps those with insider knowledge, and I suspect there may be several as there usually is leaping to the defence of companies on MSE forums, would like to tell us?.

 

Section62

Olinda99 said:

you don't pay anything for statements from Lloyds - they are provided free of charge

even if you have an account that has a monthly fee that fee is for the benefits of the account and not for the statements

if you want online and paper statements then the obvious answer is to download the online statements and print them off.

Given this is a money saving forum, if the bank provides free printed statements then the "obvious answer" surely is to let them send you free printed statements rather than wasting your own (expensive) ink and paper.

For clarity, LBG aren't saying they are stopping paper statements due to the cost, nor for environmental reasons.  The letter only mentions "issues" and implies this is a temporary pause on providing them.

eskbanker

A._Badger said:

eskbanker said:

Regarding "the services for which I've paid", how much do you pay for provision of your paper statements?

I don't how much I pay for this specific feature because Lloyds doesn't itemise it. Nor does it individually itemise any of the functions of the accounts I hold. I have no doubt that they make a profit on my accounts though otherwise they wouldn't host them, nor would other banks be trying to buy current account business.

OK, so how much do you pay for your account at a non-itemised level?

A._Badger said:

Perhaps those with insider knowledge, and I suspect there may be several as there usually is leaping to the defence of companies on MSE forums, would like to tell us?.

I can't speak for anyone else but am not defending them and am not an insider - that doesn't prevent me from observing and challenging flawed arguments though!  Obviously there's a cost in producing and distributing paper statements, but the point is that you're not paying for it as such, in the same way that you weren't asked to pay for accounts when online servicing was introduced, so it's one thing to be unhappy at a facility being removed but another to try to make the case that you're somehow entitled to it by virtue of paying them for it....

GTR_King

They can still send paper statements to some customer at request but issue probably with their machines etc so issues will be temporary prob few weeks to a month or 2 but after that you can revert back! 

S_uk

I ultimately don't object to Lloyds stopping paper statements as it's their decision and they aren't the only financial institution to do so.

I do however object to them not being straight forward in saying they are doing this, and instead send out a cryptic, mysterious messages about an "issue they are experiencing" which is "temporary" and will "let you know as soon as we’re able to offer you paper statements again". Sorry but what issue is this, which is only temporary? I don't think I've ever had experience of a bank saying this, and leaving it all open ended as they don't say when they are willing to send them out again?

I think it's underhand to give the impression in their email that it's temporary, when in fact it may not be.

Someone on a twitter thread called them to ask:

"Spoke to a really helpful guy who took my question seriously, went away and checked and told me it’s a general change from paper to online statements from 1 Nov (which I don’t want). He wasn’t sure what would happen to vulnerable customers."

When another person tweeted them asking what, specifically, was the underlying issue, they responded that they "have no further info" on it. So Lloyds apparently has an issue that prevents them from providing printed statements, but even Lloyds doesn't actually know what the issue is!

naedanger

GTR_King said:

They can still send paper statements to some customer at request but issue probably with their machines etc so issues will be temporary prob few weeks to a month or 2 but after that you can revert back! 

I hope you are right regarding timescales. I have written to ask when they expect to have resolved the issue and whether they will then provide a paper statement to cover the gap.

eskbanker

S_uk said:

Someone on a twitter thread called them to ask:

"Spoke to a really helpful guy who took my question seriously, went away and checked and told me it’s a general change from paper to online statements from 1 Nov (which I don’t want). He wasn’t sure what would happen to vulnerable customers."

Not sure what the significance of vulnerable customers is?  To reiterate, the advised change is only for those who use online banking and therefore already have access to statements via that channel, unless anyone knows anything different?

We’re experiencing some issues and may not be able to send as many by post as we normally do. As you use Internet Banking, we’ll only send your statements to you digitally.

S_uk said:

So Lloyds apparently has an issue that prevents them from providing printed statements...

As above, they don't say the issue prevents them from providing printed statements, but "may not be able to send as many by post as we normally do".


And before anyone suggests otherwise, no, I don't work for them 🙄