Nationwide Bank Cancels Paper Statements: How to Access Reports for Millions of Customers.

The National Bank Announces Transition to Paperless Statements

According to The Sun: The National Bank of the United Kingdom has announced significant changes in the provision of services that will affect millions of customers.

From now on, banks will no longer send paper bank statements, and customers will receive all information online.

These changes have already been in effect since the beginning of this month, so customers will no longer wait for statements by mail.

Users will now need to log into their banking app or website to check their statements.

While paper statements can still be obtained upon request, they will no longer be sent automatically.

These changes apply to customers' savings accounts.

Accounts affected include popular savings accounts and ISAs.

Mortgages and loans will not be subject to these changes.

Reasons for Transitioning to Paperless Statements

Many banks are moving to paperless statements as they claim that most customers find it more convenient to receive electronic versions.

The National Bank noted that digital statements are more secure and allow for faster access to information. Additionally, eliminating paper and postage costs is beneficial for banks.

However, experts point out that elderly or vulnerable customers may encounter difficulties accessing digital statements.

“Customers of the National Bank can continue to receive their statements in paper form as well as online. However, we have stopped the automatic sending of paper statements for a number of accounts following feedback from customers. For those who prefer the paper version, they can request it at a branch or by phone, as well as via the app,” said a bank representative.

Which Accounts Are Affected by the Changes

Customers will receive statements with each deposit or withdrawal. Even without transactions, customers will receive an annual statement, as well as a statement by mail upon closing the account.

• Branch Instant Access Maturity
• Easy Access ISA Easy Access Saver
• Fixed Term Bond Maturity
• Fixed Term ISA Maturity
• Flex ISA
• Flex Saver
• FlexOne Regular Saver
• Future Saver
• Inheritance ISA
• Limited Access Saver 9
• Reward ISA
• Reward Saver
• Reward Single Access ISA
• Single Access ISA
• Single Access Saver
• Smart Instant Access (Adult)
• Smart Instant Access (Child)
• Smart Limited Access (Adult)
• Smart Limited Access (Child)
• SmartSaver
• Triple Access ISA
• Branch Easy Access
• Branch Easy Access ISA
• Branch Flex ISA
• Branch Flex Saver
• Branch Future Saver
• Branch Limited Access
• Branch Reward ISA
• Branch Reward Saver
• Branch Reward Single Access ISA
• Branch Single Access
• Branch Single Access ISA
• Branch Smart Instant Adult
• Branch Smart Instant Child
• Branch Smart Limited Adult Branch
• Smart Limited Child
• Branch SmartSaver
• Branch Triple Access ISA

Consumer rights expert Scott Dixon noted that this move is likely a “cost-cutting measure.”

He also pointed out that not everyone has reliable internet access, and some elderly individuals may not feel confident in online banking. “Paper statements help many people manage their expenses, notice unusual transactions, and maintain independence without relying on others,” he noted.

The National Bank is not the first to abandon paper statements. Lloyds Banking Group, which manages Lloyds, Halifax, and Bank of Scotland, also took this step in 2023.

How to Switch Back to Paper Statements

If you wish to continue receiving paper statements, you need to contact the National Bank. This procedure can be done through the app — simply go to the “Details and Settings” section, select “Paperless Settings,” and then choose “Paper” for receiving statements in paper form.

You will need to confirm your email address and the terms for updating your settings. You can also change your settings by phone or at the nearest bank branch.

Call customer support at 0345 730 2011 or visit your local branch.

The noted transition to paperless statements marks a new stage in the development of banking services, simplifying the process for younger users, while also leaving questions of accessibility and convenience for elderly and vulnerable customers. The bank supports the ability to receive paper statements, indicating consideration for the needs of different population groups.

Clearly, this change is part of a broader trend toward the digitization of financial services, which continues to grow worldwide. How it will affect the relationship between banks and their customers will only be shown by time.