I bank online with Halifax and they repeated tried to get me to change to paperless statements for my credit card - each time I refuse as I prefer to keep a paper copy for my records.
I've just received an email informing me that they are forcing me into online only statements and I have no choice in the matter.
Does anyone know if credit card companies have a legal obligation to provide paper statements if the customer requests it?
or just print a copy of the electronic statement yourself if having a paper copy is important to you?
I bank online with Halifax
Does anyone know if credit card companies have a legal obligation to provide paper statements if the customer requests it?
(1) A firm must provide or make available to a banking customer on paper or in another durable medium such regular statements of account as are appropriate to the type of retail banking service provided, but need not do so where:
(b) the retail banking service is provided at a distance by means of electronic equipment where the banking customer can access his account balance, view transactions and give instructions in relation to the retail banking service at a distance by such means; [. ]
which I'd interpret to mean that those who have online access don't have the right to insist on all statements being sent routinely in paper form, although later clauses suggest that copies should be made available on request (possibly at a cost).
Can you share the wording of the email?
CliveOfIndia Posts: 1,770 Forumite
Does anyone know if credit card companies have a legal obligation to provide paper statements if the customer requests it?
It's an interesting question - the answer to which I don't know. However, any business is at liberty to choose not to do business with anyone they choose, so long as it's not based on a protected characteristic (race, religion, disability, etc. etc.). I guess they could reasonably argue that their T&Cs have been amended to say something like "paper statements will no longer be available" - if you don't agree to the updated T&Cs then you're free to take your business elsewhere.
Must admit, though, I'm with mr_stripey here - it's easy enough to print off your own copy if you want one. I'm also a bit of an old dinosaur, and have always favoured paper statements for everything. But every so often I have a clear-out and get rid of old stuff, burning anything "sensitive" (as I don't have a shredder and burning it is cheaper). But it did strike me what a waste it is - I'm certainly no eco-warrior, but it does seem a waste of paper these days. So I'm gradually switching over to online statements for most things.
Of course, it saves the company a fair chunk in printing and postage costs as well, so you can't blame them I suppose !
I've had the same email today. I may be being pessimistic but I doubt they'll offer paper statements again.
We’re getting in touch to let you know from 1st November 2023 we’re changing the way we send statements for some credit cards, current and savings accounts. We’re experiencing some issues and may not be able to send as many by post as we normally do. As you use Online Banking, we’ll only send your statements to you digitally. This means you’ll only be able to see them in Online Banking or our Mobile Banking app and we’ll send you an email to let you know when they’re ready. We’re sending you a letter which will include a list of your affected accounts so please look out for this.
We appreciate you normally receive your statements by post, and I’m sorry if this change causes you any issues. We’ll let you know as soon as we’re able to offer you paper statements again.
