I recently received the fifth attempt from my bank to stop me receiving paper statements. MBNA informed me that, due to “some issues”, I will have to receive statements digitally. As a former bank employee, I recall introducing “strategies” which were primarily in order to reduce costs, but were marketed as “improvements” to customer service. It seems to me MBNA is using unspecified issues in order to reduce its cost base.
MB, London
I received a similar letter from Halifax citing unspecified “issues” and promising to let me know when mailings could resume. So did most customers of the Lloyds Banking Group brands, including Lloyds Bank and Bank of Scotland. Like you, I assumed cost-cutting was at the root of it. The announcement coincided with the news that Lloyds planned to axe 2,500 jobs to save money. And, like you, I have resisted tricks and traps to get me to switch to paperless banking. Why? Because, in common with thousands, I only remember to check my income and outgoings when they arrive in an envelope. And because paper statements are required as proof of identity by many firms and authorities.
