Consumers value paper statements, survey says

Communication via paper statements is as important to the customers of banks as speaking to staff in call-centres and in branches, a survey says.

According to research commissioned by Royal Mail, four in ten people say that paper statements are as important to them as UK call centres.

The study also suggests that stopping statements would risk relationships with
73% stating they would “feel inconvenienced and annoyed” if they were taken away.

It also reveals that 65% of customers who prefer paper bills and statements would consider defecting to a competitor, or would leave straight away, if there was no choice.

And 29% of customers who prefer to receive information in a digital format would move or consider moving, if the option to receive paper statements were no longer sent.

Transactional communications include bank and credit card statements, bills, invoices and insurance documents.

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