Royal Mail: Online bankers still want paper statements (UK)

Some 19 per cent of online bankers would switch providers if they were no longer able to receive statements and confidential information through the post, a Royal Mail survey has found.

Banking via the internet is a popular choice for many these days and can allow borrowers access to functions such as overdraft extensions, direct debits and up-to-the minute statements.

However, research commissioned by Royal Mail found that 68 per cent of those who conduct their money matters on the web still liked receiving paper correspondence, while seven in ten believed it was safer to receive confidential data this way.

When asked about utility providers, 35 per cent of consumers said they would take their custom elsewhere should their current supplier decide not to send statements by mail.

“Many companies are currently actively encouraging people to transact with them online, but they need to ensure that this is what their customers really want,” commented Abi Wood, head of financial sector marketing at Royal Mail.

“This research demonstrates the importance and value that many people place on having a hard copy record of their transactions.”

According to UK payments association Apacs, the number of card payments on the internet reached 426 million in 2006.

Some 19 per cent of online bankers would switch providers if they were no longer able to receive statements and confidential information through the post, a Royal Mail survey has found.

Banking via the internet is a popular choice for many these days and can allow borrowers access to functions such as overdraft extensions, direct debits and up-to-the minute statements.

However, research commissioned by Royal Mail found that 68 per cent of those who conduct their money matters on the web still liked receiving paper correspondence, while seven in ten believed it was safer to receive confidential data this way.

When asked about utility providers, 35 per cent of consumers said they would take their custom elsewhere should their current supplier decide not to send statements by mail.

“Many companies are currently actively encouraging people to transact with them online, but they need to ensure that this is what their customers really want,” commented Abi Wood, head of financial sector marketing at Royal Mail.

“This research demonstrates the importance and value that many people place on having a hard copy record of their transactions.”

According to UK payments association Apacs, the number of card payments on the internet reached 426 million in 2006.