12th May 2016
RBS has given an undertaking that its personal banking customers will continue to have the option of receiving statements on paper without cost or penalty.
The promise from the high street bank is a significant win for the Keep Me Posted campaign, which wants all banks, energy suppliers and telecom firms to keep giving their customers the option of paper statements.
The move covers Royal Bank of Scotland, NatWest and Ulster Bank brands. The bank has received a ’Best Practice’ Mark of Distinction from Keep me Posted. The campaign says this allows customers to instantly recognise when a business has made a commitment to providing its customers with paper bills and statements, without charge or penalty.
It also says behavioural finance research previously undertaken by the campaign found that consumers who receive financial correspondence by post are much more likely to be able to correctly assess the health of their accounts (75 per cent vs 48 per cent for those who received electronically).*
Judith Donovan CBE, chair of the Keep Me Posted campaign, said: “This is a landmark milestone for our campaign. After two years of tireless effort from all of the businesses, charities and passionate consumers who support the right to consumer choice, I am delighted to award the Royal Bank of Scotland, NatWest and Ulster Bank with the Keep Me Posted campaign’s ‘Best Practice’ Mark of Distinction. The RBS Group is the first UK high-street banking provider to join our campaign. It truly demonstrates the depth of their commitment to customer service.
“By continuing to offer paper bills and statements, these banks have given their millions of customers the right to make the best choice for them. Now, we call on the rest of the UK’s providers to follow suit and do the right thing by their customers.”
David Crawford, head of main banking and core segments, products said: “Putting customers first is our number one priority and that is why we let customers choose how we communicate with them.”