FNB will no longer email bank statements – Here is what other banks are doing

FNB recently announced it would stop emailing bank statements to its credit and cheque customers.

“At FNB, we are dedicated to offering you services that make the way you bank more convenient, saving you time and money,” the bank said in the email.

“For your convenience, you can access statements via the FNB App and online banking.”

“From 1 August 2020, your statements will no longer be sent via email,” the bank told customers.

It said that this decision was taken for safety and security reasons.

“FNB regularly reviews its processes to improve efficiency, customer experience and safety,” FNB iCustomer CEO Lynette Kloppers.

“As part of our ongoing measures, FNB will minimise the distribution of monthly statements via post and email.”

MyBroadband asked other South African banks what their plans are for emailed bank statements.

Standard Bank did not respond by the time of publication.


Capitec

Capitec said that it does not send automated bank statements to its customers via email.

However, should a client wish to have a copy of their bank statement emailed to them, it can be done manually through the Capitec app or via Internet banking at no cost.

“For security purposes we only send statements to the client’s email address registered on our banking system,” Capitec explained.

For customers who manually request an emailed copy of their bank statement, Capitec warns that their email inbox is only as secure as their service provider and their password setup.

“Be sure to select a reputable service provider that uses multi-factor authentication and choose a password that is unique and cannot be guessed by others,” said Capitec.

Capitec


Nedbank

Nedbank said it currently has bank stamped statements available for download via its primary digital channels – the Money App and online banking.

“As our clients take up the convenience of downloading statements, we continue to monitor to inform our future plans for email bank statements,” said Nedbank.

“We are continually working to add more products.”

Nedbank also noted that all e-statements are encrypted to ensure that this information remains secure.

Alternatively, users can attain their bank statements at a Nedbank branch.


Absa

Absa said that it has been “on a journey” with customers to understand what they want out of the banking experience.

“What is evident is that providing customers with a wider range of options when it comes to accessing their bank statements ultimately provides greater choice,” said Absa.

This includes emailed bank statements, Absa confirmed, adding that it believes it is essential to password-protect these bank statements.

“Customers can also choose the channel of statement delivery through our digital platforms,” Absa added.

It added that customers should ensure they make use of Absa’s free antivirus software to protect themselves against malicious emails.

Absa logo

Now read: Downloading South African banking apps – What you should know

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FNB will no longer email bank statements – Here is what other banks are doing