LBG paper statement "issues"

GTR_King

I highly doubt LBG will Reinstate paper statements automatically! they will hit and hope customers will forget and get used to online statements, 

LBG will reinstate paper statements once they get this issue sorted with the company that looks like to be going bust, could we weeks/months till it's sorted

gt94sss2

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?   

FCA regulations say that banks have to offer you copies of the past 5 years of statements when you close an account.

For instance: https://www.lloydsbank.com/current-accounts/closed-accounts.html

gt94sss2

I also received the letters for my LBG accounts but in online banking my accounts are still listed as receiving paper statements not paperless.

The one exception is my Lloyds Cashback credit card which is listed as paperless and I am not given an option to change it back to paper statements - even though the text says it should be possible.

GTR_King

Looks like the company that prints statements for LBG is in serious trouble! LBG are trying to save it to keep paper statements going! 

But if the company goes bust LBG will need to find a new one which could take a while!

but they are required by law to be able to print/send paper statements to customers who don’t bank online or need a copy 

Lions_89

https://www.telegraph.co.uk/business/2023/11/12/bank-statement-shortage-print-supplier-face-cash-crunch/

“The future of the humble paper bank statement is at stake amid a cash crunch at the main print supplier to Britain’s big high street banks.

A finance industry-led rescue operation to save Leeds-based Communisis is being spearheaded by Lloyds but hopes of a salvage deal were fading this weekend.

It is understood the advisory firm Interpath has been put on standby amid concerns that the company faces the growing threat of insolvency. An estimated 1,000 jobs are at risk.

Fears for the future of the business have been heightened after Lloyds took the unusual step of telling some customers they would be switched to online statements without explaining the reason for the move.”

GTR_King

Well I am sure Lloyds will get it sorted ASAP 

other wise there will be big issues 

ele5510

They seem very confused about it internally, every time I ask them I get a different answer about whether I can keep paper statements. Today they said two different things in the same letter! Their own terms and conditions actually say they won't switch you to paper statements without giving two months notice and a chance to opt out, so they seem to be in breach of contract. I'll probably need to go to the Financial Ombudsman to get some clarity.

miller

If LLoyds had elaborated a bit more in the first instance people may have been more understanding.

GTR_King

Finally Lloyds have made me online statements online 😭😭🤬🤬 have asked to keep paper statements if not o well will just order them when needed happy days everyone 

Naecredit

Bank is obviously trying to nudge people away from paper statements to save money. Statements are still routinely requested as proof of address & printing your own will not meet the requirements. Petty Halifax didn't just come out & state their intension honestly. If unhappy, complain then raise with Ombudsman.