The Keep Me Posted campaign has today launched its inaugural Banking Report. The report highlights three main areas of concern:
Charges for duplicate statements. Two thirds of the banks in the study charge between £5 and £10 for a duplicate statement. That appears to be far more than the cost of printing, production and postage
No industry standard for online archiving. Online archiving varies from bank to bank. Some banks enable customers to view statements online for up to a year. Others can go back seven or more years online.
3. Proof of identity. Despite encouraging customer to go paperless, none of the top 11 UK banks and building societies questioned accept printed copies of online statements as proof of address or identity when applying for a mortgage or current account
Read the full press release here: