CITI: Go paperless or lose online access

[George K]

https://www.wsj.com/personal-finance/citibank-customers-paper-statements-be6b8a3c

Some Citigroup credit-card customers are getting a stark warning from the bank: Go paperless or lose access to your online account.

Banks and credit-card companies have been nudging customers to give up paper statements for years. Aside from the environmental benefits of not printing millions of pages, banks have said switching to digital statements is also a cost-saving measure.

Citi’s policy is one of the harshest yet for the holdouts. The effort is part of a beta program rolled out to a small number of customers who access accounts online but still get paper statements, a Citigroup representative said.

The bank didn’t say how many customers received these messages. Though the policy requires customers to enroll in paperless billing to continue using their account online, they can switch back to paper later and retain access to the bank’s site and app, the representative said.

Barry Schneider had ignored prodding from banks to give up paper statements over the years, as he prefers to track his finances the old-fashioned way.

When he logged in to pay his credit-card bill last month, Citi gave him the ultimatum. If he wanted to keep receiving monthly paper statements, he would have to start making check payments by mail, too.

“We’re requiring you to go Paperless to maintain digital access to your account,” the site said.

Attorneys and consumer advocates say the policy tests the limits of federal laws that require credit-card companies to mail customers paper statements at least once a month, unless they opt out in favor of digital delivery. The rules don’t specify whether customers are entitled to digital access to their accounts.

[Jolly]

Good.

They don't need my money.

[89th]

Confusing policy. So folks can switch back to paper but only after they enroll once in paperless? I could see a bank charging a small fee to provide statements via paper/mail. I'm all digital. My wife still pays her credit card each month via check in the mail, and then she balances her checkbook. Good habits, perhaps, but she's stubborn when she wants to be (trust me) and this is a good example. I told her when I write a check, I don't have to balance the checkbook since I can view all transactions online.

[jon-nyc]

That surprises me given your wife’s age. Things were already online when she started adulting, I assume.

Seems like something a person with a decade or two of pre-online banking experience would do.

[Klaus]

I have no problem with such policies. There is no reason to send printed statements. A nice bank should offer printed statements at an appropriate extra price.

[jon-nyc]

This is more in your face than simply announcing a charge for paper. Must be that fees are not allowed.

[Mik]

Or they are just firm about it. I'm paperless wherever I can be anyway. And I always hated writing and mailing checks.

[Jolly]

Most of the time, judges like paper. As the bench changes out, that attitude may change.

[George K]

@Mik said in CITI: Go paperless or lose online access:

I'm paperless wherever I can be anyway. And I always hated writing and mailing checks.

Same here. I used to sit at my desk twice a month, with a stack of bills, and shit. I'd put a pile of checks in the printer and mail them out.

I don't remember the last time I bought stamps.