5 ms·

Paperless billing isn't really high technology. They're already sending an e-statement, so I'm not sure what would be keeping them offering to have that be the

by cbr 10y ago

Paperless billing isn't really high technology. They're already sending an e-statement, so I'm not sure what would be keeping them offering to have that be the only option.

pavel_lishin 10y ago
I'm guessing there's a legal component involved, somehow.
- NeutronBoy 10y ago
  In Australia that's the case - paper statements are mandated, and if you want a paperless statement there's a bunch of stuff banks have to do including formally recording your preference to have paperless statements and sending a letter once a year or so to notify you of your recorded preference.
  - cyphar 10y ago
    I've never gotten a physical letter from CommBank. Is this a state-based thing?
    - NeutronBoy 10y ago
      The confirmation letter was a few years ago so it may have been updated. The legislation was focused on 'debt' based notifications - e.g. the way the existing laws were written, a paper-based notification was the legally recognised way to notify someone of their debt obligations (i.e. credit card statement)
      - cyphar 10y ago
        Ah, okay. I don't have a credit card, I thought you were reffering to paper bank statements not credit card bills. :P
      - NamTaf 10y ago
        All of my credit card statements are paperless. I 2 different financial insttitutions. Ditto my bank statements from one of those two. The only paper statmeents I receive are for my mortgage account and its associated (empty) savings account. I suspect that's because until recently the credit union they're with was behind the times.
    - imron 10y ago
      It's likely a business versus a personal account thing. I use the same (Australian) bank for my business and personal accounts, and while I can go completely paperless for my personal account, according to the bank, for various legal reasons I can't do the same for my business account.
  - kondro 10y ago
    It used to be, but hasn't been for years. Banks slowly switched from paper statements, to summary statements to now you can have entirely electronic statements. I get no physical bank statements from any of the banks I use (CBA, Suncorp, ING & BoQ).
- arfrank 10y ago
  There's no legal requirement to send a statement exactly, the bank can't force the customer to eStatements, but they can choose not to keep the account open if they opt out. There's additional complexity around if it's a debit account vs credit account. But usually what happens is the system the bank bought to run their core is setup one way and hasn't been switched for a long long time.

by cbr 10y ago

Paperless billing isn't really high technology. They're already sending an e-statement, so I'm not sure what would be keeping them offering to have that be the only option.

pavel_lishin 10y ago

I'm guessing there's a legal component involved, somehow.

NeutronBoy 10y ago
In Australia that's the case - paper statements are mandated, and if you want a paperless statement there's a bunch of stuff banks have to do including formally recording your preference to have paperless statements and sending a letter once a year or so to notify you of your recorded preference.
- cyphar 10y ago
  I've never gotten a physical letter from CommBank. Is this a state-based thing?
  - NeutronBoy 10y ago
    The confirmation letter was a few years ago so it may have been updated. The legislation was focused on 'debt' based notifications - e.g. the way the existing laws were written, a paper-based notification was the legally recognised way to notify someone of their debt obligations (i.e. credit card statement)
    - cyphar 10y ago
      Ah, okay. I don't have a credit card, I thought you were reffering to paper bank statements not credit card bills. :P
    - NamTaf 10y ago
      All of my credit card statements are paperless. I 2 different financial insttitutions. Ditto my bank statements from one of those two. The only paper statmeents I receive are for my mortgage account and its associated (empty) savings account. I suspect that's because until recently the credit union they're with was behind the times.
  - imron 10y ago
    It's likely a business versus a personal account thing. I use the same (Australian) bank for my business and personal accounts, and while I can go completely paperless for my personal account, according to the bank, for various legal reasons I can't do the same for my business account.
- kondro 10y ago
  It used to be, but hasn't been for years. Banks slowly switched from paper statements, to summary statements to now you can have entirely electronic statements. I get no physical bank statements from any of the banks I use (CBA, Suncorp, ING & BoQ).
arfrank 10y ago
There's no legal requirement to send a statement exactly, the bank can't force the customer to eStatements, but they can choose not to keep the account open if they opt out. There's additional complexity around if it's a debit account vs credit account. But usually what happens is the system the bank bought to run their core is setup one way and hasn't been switched for a long long time.