Major Shift at First Direct: No More Paper Statements for Customers

First Direct, a prominent online bank in the UK with approximately 1.9 million customers, announced it will cease sending paper savings account statements after September 1. This decision marks a significant shift in the bank’s approach to customer communications, primarily affecting those who prefer traditional statement formats.

The news has prompted a wave of reactions on social media from customers expressing their disappointment. One long-time customer remarked, “Been with @firstdirect for 25 years. They’re fine except for ONE thing. I want a paper statement.” Another user shared their frustration on Facebook, stating, “I just got an email from First Direct telling me they will no longer send me paper bank statements.” Complaints about the decision have been echoed throughout various platforms, with one individual commenting, “So irritating!”

Transition to Digital Statements

In place of paper statements, First Direct is encouraging customers to access their account information digitally. Customers can download and view statements in PDF format through the bank’s app or online banking platform. The process is straightforward: on the Balances screen of the app, users can tap the three-dot menu next to the desired account to select ‘Statements.’ They will then be able to view their three most recent statements or select from previous years.

For those who prefer to manage their preferences, First Direct provides options to amend account settings at any time. Customers can log into their online banking account, navigate to ‘my details,’ and change their statement preferences. Additionally, the bank has incorporated a chatbot feature in its mobile app, allowing users to simply type “amend my statement” and adjust their preferences accordingly.

Accessing Important Banking Information

Customers can also find their International Bank Account Number (IBAN) or Bank Identifier Code (BIC) through the app or online banking. By selecting the account in question and choosing ‘Statements,’ users can download a full PDF statement that includes these crucial details.

This strategic move towards digital banking reflects a growing trend in the financial sector, as institutions increasingly prioritize online services over traditional methods. While many customers welcome the convenience of digital access, the decision to eliminate paper statements has raised concerns among those who value physical documentation. As First Direct navigates this transition, it remains to be seen how customers will adapt to the change.