Got an E-Mail: Amex wants to discontinue sending paper statements
As you here in the forum may know I am a great fan of the Amex company.
But now this is the first time I am disappointed about their behaviour.
Got an E-Mail stating the following:
"Sehr geehrtes American Express Mitglied,
wir möchten Sie heute über eine wichtige Neuerung bezüglich Ihrer Kartenabrechnung informieren. Ab Februar 2010 werden wir Ihnen Ihre Monatsrechnung regelmäßig in unserem geschützten Online-Bereich zur Verfügung stellen. Die Zustellung per Post entfällt damit. "
(We would like to inform you about an important novation **or should I translate enhancement** concerning your credit card statement. Commencing in February 2010 we will store your monthly statement regularly in our protected online area. The delivery by post is suspended for this reason.)
Afterwards there is a following text how to "opt-in" in the sending of the paper statement.
Besides the fact that this is not 100 percent consistent with European law which requires an opt-in for accepting e-invoices I think that this is bad news.
The e-statement has the following disadvantages:
- waste of time for logging in, storing and printing
- waste of convenience as nothing is more simple than to open the own "paper-post" and not to check any website
- environmental unfriendly as the logging in and printing consumes more energy than a centralized production.
So all cardholders who get this (I think all in Germany will get that) be aware and choose the post option again. I am very upset about the fact that also American Express is dislocating work from their company to the clients.
Programs: AA, BA, BD, MCC, Mucci: Sir Roger des Directions Routieres, PCR
Posts: 8,004
I check my (UK) AmEx accounts online most days. For what seems like months, a pop-up asks whether I want to convert to e-statements. I always click No. I've done this every time, dozens of times, and they still keep asking.
The e-statement has the following disadvantages:
- waste of time for logging in, storing and printing
- environmental unfriendly as the logging in and printing consumes more energy than a centralized production.
I think the expectation is that in most cases, the invoices would not be printed at all, rather than printed by the customer.
Programs: AA 2MM Perpetual Platinum; HH Gold, SPG Gold; All Major Credit Cards
Posts: 5,175
Quote:
Originally Posted by Steve M
...expectation is that in most cases, the invoices would not be printed at all...
Precisely. To the extent possible I have stopped all postal bills and statements from banks, broadband, credit cards, electricity, telephone, water, etc. We still receive statements from one credit card and two banks which have not implemented paperless options, but I periodically complain because they do have good web access in place.
Credit card companies used to send copies of every signed charge slip with the monthly statement. Then they switched to scanning and printing images on the statement. Then they changed to the current system of listing the transactions. The same occurred at US banks. Cancelled checks were returned each month, then scanned images, then a list. At each step there was resistance from customers, but nothing dire occurred.
I do think that financial institutions should provide immediate access to at least 36 months of statement online. The requirement to "order" statements older than, say, six or 12 months is a motivation to print or at least to download and save local PDF copies.
Programs: BA Blue, Qantas Club, Virgin Silver, Priority Club Platinum, Goldpoints Gold, BA Amex PP
Posts: 617
I'm more than happy to review my statements online. They send me an email to let me know when my payment's due so it logically follows that I could view transactions online.
Why go to the trouble of printing and posting paper statements only to be delayed in the post and then giving people the opportunity for a bit of postal hijack and subsequent fraud. I only end up shredding ones that are sent anyway.
What if your email does not arrive due to net failure or other error--remember even gmail has been down several times lately.
IMHO, I want to get paper statements, not email. I may scan them in on my Fujitsu scanner right away, but I prefer to audit the paper--then into the shredder.
The card companies like to treat email as perfect (which it sure ain't). Read the agreement and you will find that you can't claim (according to them) that you did not get an email from them.
Programs: AA 2MM Perpetual Platinum; HH Gold, SPG Gold; All Major Credit Cards
Posts: 5,175
Quote:
Originally Posted by biggestbopper
What if your email does not arrive due to net failure or other error...
How would this be different than a postal failure to deliver? I look at every account online every day, but even if I did not do this I know the closing dates because they are entered as recurring entries in my electronic organizer.
My Corporate Card (I work for a large US based corporation) went to paperless a month or two ago. Don't know if it was AmEx driving it or my employer negotiating for a reduced cost.
I much prefer the online statements. Like mia, I check accounts regularly online, and know when payments are due. I sign up for email alerts as reminders, and I download the .pdf onto my local hard drive. Much more efficient than receiving hard copy statements and filing, or having to scan them myself to file electronically.
It's so much easier when traveling to review and pay statements online rather than be away when the postal mail comes, or rely on mail forwarding when away from my billing address for months at a time.
I find it very annoying that my UK-issued IDC still sends paper statements and I must mail a cheque via postal mail to pay that one (live in Denmark, write a cheque on a U.S. bank account, mail to the UK). I always have to remember to estimate and pre-pay when I am going to be away for 3-4 weeks and won't be able to receive and pay the statement in time.
How would this be different than a postal failure to deliver? I look at every account online every day, but even if I did not do this I know the closing dates because they are entered as recurring entries in my electronic organizer.
It shouldn't be different ... but, it sure is. The Fair Credit Billing Act (part of the Truth in Lending Act) was written long before email and allows a billing error dispute if the card holder did not receive a statement or get it in timely fashion.
However, email is treated as infalible by card agreements and recent federal law (not specifically about credit cards). I wouldn't have a problem in this area if email was treated as US mail is.
probably need a filing cabinet 
