Santander, which operates branches in Birmingham, has confirmed it will discontinue the distribution of annual fee statements starting in August. This change forces customers to monitor their banking costs exclusively through online and mobile banking platforms.
End of Annual Paper Statements
The bank stated that it will no longer send out yearly statements detailing fees and charges. Customers seeking a comprehensive breakdown of their finances must now log into their Online and Mobile Banking accounts. Santander emphasized that this can be done “anytime, wherever you are.”
Push Toward Paper-Free Banking
Santander has been encouraging customers to adopt paper-free banking for years, competing with rivals such as NatWest, HSBC UK, Lloyds Bank, Barclays, First Direct, and TSB. On its website, the bank promotes the shift by stating: “Going paper-free means that you'll get your statements and other important notices online and not by post.” However, it acknowledges that not all notices are currently available digitally, noting: “We can’t show you everything in Mobile and Online Banking yet. So, for now, depending on the accounts you have with us, we may still send you some notices in the post.”
Benefits of Going Paper-Free
According to Santander, 9.2 million customers have already switched to paper-free banking and are “seeing the benefits.” These benefits include peace of mind from having statements securely stored online, access to up to seven years of account activity, and email notifications when new statements are available. Customers can download and print statements as needed. Additionally, the bank highlights environmental advantages: “Once you go paper-free, you can download and print your statements whenever you want. If you change your mind, you can update your preferences at any time.”
How to Switch
To go paper-free, customers are instructed to tap 'Mailbox' in the top-right corner of the app or online banking, then select 'Statements and documents,' followed by 'View your paper-free preferences.' They can choose to go paper-free on all accounts or only on selected ones.
