What (UK) laws/regulation exist around the necessity for banks to send paper letters/post?

ldexterldesign

👋 all,

Hope you're OK!

As title

For numerous reasons (happy to elaborate) I'm tired/exhausted/angry - bordering on distressed as I'm neurodivergent - of receiving paper letters/post when I've stipulated paperless

Usually when I contact the org to confirm/update my communication preferences they tell me they *must* letters/post because of laws/regulation. Sometimes they refer me to their org terms, in which case I acquiesce, but when they don't/can't I feel like I should go to the ombudsman.

For context, over the summer virginmoney.com sent me two letters (i.e. annual statement and terms). When I confirmed I'm registered paperless they raised the law/regulation thing and pointed me at their terms:
--

8. How and when will Virgin Money send me statements and other communications?

[...]

8.3. We may get in touch about your account using any contact details we hold for you.

8.4. We may give you updated information about your account, or tell you about changes to this agreement by any

means, including:

• messages on your monthly statement or in the app.

• post, phone, text or (if you have them enabled on your device) push notifications.

• email which may include a link to our website virginmoney.com, or a PDF (including PDF attachments).

--

If you can't answer my original question, who could I contact to find out the answer?

Yours hopefully

Brie

FCA regulations I believe.

This may be the right bit or at least is a start....

BCOBS 4.2 Statements of account - FCA Handbook

eskbanker

I don't think that there's anything actually mandating occasional paperwork being sent by post, but conversely don't believe that registering for paperless account management means that banks mustn't send anything by post.

DullGreyGuy

Certainly the The Consumer Credit (Enforcement, Default and Termination Notices) Regulations 2004 required default notices to be sent by letter. Can't say with absolute certainty that it remains so as its one of those acts that the government site doesn't produce a timeline for. 

The FCA handbook would be a good place to look, its generally divided by Rules and Guidelines but most will follow the guidelines despite the fact they aren't rules as its easier to do it than to justify why you dont. 

There is a vast array of legislation covering banks so it'll be a hard slog, some result in entries in the handbook but not all do. 

molerat

It annoys me when LBG send me the exact same communications in the post when I am paperless and have already had the same on line.  MrsM and myself recently closed 8 LBG savings accounts between us, the shredder was working overtime - from the doormat straight into the shredder.  8 envelopes and 8 x 4 sheets of paper, what a waste of money and not very environmentally friendly.

blue.peter

On the other hand, there are situations where postal communications are necessary. It rather irritates me that if I close a Nationwide account (e.g., following maturity of a regular saver), I can no longer access statements for that account online. So they have to send the closing statement by post. I then scan it and shred it.

EssexExile

blue.peter said:

On the other hand, there are situations where postal communications are necessary. It rather irritates me that if I close a Nationwide account (e.g., following maturity of a regular saver), I can no longer access statements for that account online. So they have to send the closing statement by post. I then scan it and shred it.

Ah the Nationwide. I closed two accounts recently and they sent me cheques in the post, how quaint. How inconvenient.

Rob5342

EssexExile said:

blue.peter said:

On the other hand, there are situations where postal communications are necessary. It rather irritates me that if I close a Nationwide account (e.g., following maturity of a regular saver), I can no longer access statements for that account online. So they have to send the closing statement by post. I then scan it and shred it.

Ah the Nationwide. I closed two accounts recently and they sent me cheques in the post, how quaint. How inconvenient.

They do seem to be stuck in the 1980s, their app is terrible. It's odd how they copied Natwests logo and colour scheme. 

Armorica

If you move to a digital bank like Monzo or Starling, letters are very rare. They will deliver them in-app. 

ldexterldesign

Thanks all

[FCA] & [FO] it is then!

Cheers

[FCA]: fca.org.uk
[FO]: financial-ombudsman.org.uk

wmb194

Another option is to stop using Virgin Money.