Banking Industry

Fedz

I find it quite self explanatory myself

I think you read too much into things in all honesty.

To my understanding: if you don't have any account activity for 6 months why would you want paper statements every month with nothing on them ...

Just because the figure of £500 is mentioned doesn't mean you have to have paper statements for £500+.

My Halifax account is credited with more than £1,000 per month and I opted not to receive statements (online only) - my personal choice.

For one it cuts costs to the Halifax, another is it uses the environment for a paper statement that shows no account activity every month and for another the account holder could've moved or similar and someone else is getting the account details of that customer

I don't think it is Halifax widening the class divide

Hope this helps

oscar52

I still see a building society as being part of the banking industry, and most (I believe) subscribe to the Banking Code.

But the same point remains with a BS (I know very little on credit unions) and that is you still rely on them. Personally, I see them as little different to banks given they all offer the same products.

Fedz

oscar52 wrote: »

I still see a building society as being part of the banking industry, and most (I believe) subscribe to the Banking Code.

But the same point remains with a BS (I know very little on credit unions) and that is you still rely on them. Personally, I see them as little different to banks given they all offer the same products.

Well you can't have your cake and eat it.

If you're against the whole banking industry then get cash in hand jobs ...etc.

If you were serious - you'd have to sacrifice, like I do on certain things.

What could someone have against bacs?

setmefree

Fedz wrote: »

Just because the figure of £500 is mentioned doesn't mean you have to have paper statements for £500+.
No it does not, what it means is that if you have under £500 a month you aint getting monthly statements whether you like it or not.;) they have no option to opt in or out.

I don't think it is Halifax widening the class divide
I do, many people cant afford the internet so how are they supposed to access their accounts online.;)

And how do they explain the i.d. fraud factor

Fedz

I knew where you was going with this as your transparent

If you can't afford the net then goto the Halifax branch they have free access on screen for you

Personally I'd close the accounts never mind restrict the amount of paper statements

So tell me why would you want paper statements every month if your not using the account?

setmefree

Fedz wrote: »

I knew where you was going with this as your transparent

If you can't afford the net then goto the Halifax branch they have free access on screen for you
(Then the same should apply for everyone, a statement every 3 months and if you want more info go into your local branch);)
So tell me why would you want paper statements every month if your not using the account?

( I think you will find that just because a person does not have more than £500 a month going into their account,does not mean that they will use it any less than a person having a £1,000 in their account) So on that term it is completely unfair to penalise the lower incomed person;)

setmefree

Also an answer to your question of why would you want monthly statements if there is no activity on your account,
If i had £2,000 in my account and lets say six months into that year someone got into my account and frauded £1,000 from it, i would have to wait another six months before i found out..

Fedz

Well put it this way if your getting less than £500 p/m chances are (and no doubt Halifax has done it's homework here) you'd not create enough account activity to warrant paper statements every month but, quarterly you get them - due to low account activity

If you have no account activity for 6 months then obviously why would you want paper statements every month :rolleyes:

Every customer still has the option to use the branch computer to access and or print paper statements for free and you can also use telephone banking - one can find the 01 number instead for telephone banking - oops forgot they can't no internet access ... maybe use a friends computer to find it

Don't forget you have cashpoint card too for free to access

Fedz

setmefree wrote: »

Also an answer to your question of why would you want monthly statements if there is no activity on your account,
If i had £2,000 in my account and lets say six months into that year someone got into my account and frauded £1,000 from it, i would have to wait another six months before i found out..

Who'd be stupid enough to leave £2k in a current account for 6 months plus doing nothing :rolleyes:

:rotfl: use the cashpoint and or goto the branch and or use telephone banking - geez! this is tedious

setmefree

Fedz wrote: »

Well put it this way if your getting less than £500 p/m chances are (and no doubt Halifax has done it's homework here) you'd not create enough account activity to warrant paper statements every month but, quarterly you get them - due to low account activity
(completely untrue, a person with an income of £1,000 a month may have 1 direct go out once a month, whereas a person with a monthly income of £500 a month may well have 7 direct debits a month go out, so that knocks your theory on the head)

If you have no account activity for 6 months then obviously why would you want paper statements every month :rolleyes:( please read my last post)

Every customer still has the option to use the branch computer to access and or print paper statements for free and you can also use telephone banking - one can find the 01 number instead for telephone banking - oops forgot they can't no internet access ... maybe use a friends computer to find it
(then if this is the case, all customers should be treated the same with regards to statements )