RBS and NatWest cut back on paper account statements

 
Bank account statement More and more customers bank online, but still receive statements through the post

RBS and NatWest current account customers will no longer receive monthly paper bank account statements, unless they opt back into the system.

The banking group has been writing to customers to inform them that statements will only be sent in the post every three months.

Those who want letters delivered will need to contact the bank.

The policy marks the latest element in the shift towards information being provided online.

Most major banks still provide monthly paper statements, but there have been changes for some new account holders and students.

'Not compulsory'

In one of the most significant shifts in the move from mail correspondence to online, the RBS Group has been writing to seven million customers informing them of the shift to quarterly statements.

A spokesman for the group said this was in response to customer feedback and requests. There will also be a cost-saving element to the move.

"The change is not compulsory and we will continue to send monthly statements to customers who ask us to," the banking group said.

"They can request that by going into their nearest branch, calling us, or completing an online form. For our customers who go on to receive quarterly statements, they can easily keep track of their money by requesting free mobile text and email alerts.

"A list of account transactions covering up to the last seven years is also available at anytime by going online or calling into a branch."

Letters will be sent to customers of Ulster Bank, part of the RBS Group, from January that explains the change.

Restrictions elsewhere

Some other High Street banks have also cut back on delivery of paper statements.

Anyone opening a Barclays current account will be asked whether they want statements provided online or through the post, although the internet option is the default position.

A survey for Barclays, published earlier this week, claimed that a third of those who received paper statements did not open them, partly because they did not want to be reminded of the state of their finances.

Those who have a basic bank account - a no-frills account often used by those with a chequered credit history - or a student account with Lloyds Banking Group receive paper statements at least once every three months.

However, regular current account holders at the banking group, as well as HSBC customers, receive paper statements every month.

 

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  • rate this
    +2

    Comment number 81.

    Back in the day, my old bank staements and credit card bills were on one page of A5. Then many moved to A4 size . Now there are separate pages for transactions, summaries, and 'information', as at Nat West. What a total waste of paper.
    Can we please save some trees!

  • rate this
    +3

    Comment number 73.

    I had my card cloned and when I received my statement, I noticed some fraud transactions. I immediately contacted my bank and got it sorted, but if I had not received my monthly statement, I not sure if I would have remembered to check my "on line statement" until payments started to bounce.

  • rate this
    +3

    Comment number 60.

    I have no desire to spend half my life on the internet, juggling between usernames and passwords.. All I require is a monthly statement from all my accounts..I find the very companies that push online statements and charge you for receiving a paper statement and then try and convince you its to save the planet, are the very ones who bombard you with endless junk mail.

  • rate this
    -2

    Comment number 43.

    I get an annual statement, online banking is the route to go.

    So you don't have internet, then you will do your banking at the bank, while your there get a statement, while your at the cash point get a mini statement, the information is available. Quarterly statements as now offered should provide the need for the majority, do people really need a monthly statement?

  • rate this
    +1

    Comment number 26.

    Online statements are a great idea, Since I signed up to Online bank statements in 2005, I've never looked back, as I can view every bank statement issued since 2005 till present date on the online banking services. Can be really handy to be able to check on a past payment using the search facilities!

 

Comments 5 of 6

 

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