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Waste of Bank Paper

Ex plorer
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Posted August 8, 2011 at 3:34PM

Hi Today I received my usual yearly bank letter to say that my overdraft was to continue.

I do all my banking on line and stopped all paper statements from my accounts years ago.

I don't even use a cheque book now.

It took 6 pages to inform me about rules interest rates and a load of other jargon.

Why don't they send it by email to my bank in box and save all this paper. There mus be a great deal who bank this way today.

Or is it more time consuming to send emails, against the cost paper, envelopes, and postal charges.

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tullie

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Posted August 8, 2011 at 3:35PM

Maybe legally they have to do this?

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Pine Man

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Posted August 8, 2011 at 4:16PM

Ex plorer

Did you consider asking your bank rather than a bunch of anonymous forum readers? ;-)

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interzone55

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Posted August 8, 2011 at 8:30PM

It's a legal requirement to inform you in writing of the reassessment of your overdraft / credit limit, plus outline the t & c of the overdraft / credit facility.

Not everyone trusts emails from their bank, even if they're secure messages in their online banking pages

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