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Thread: Which bank does NOT send balance statement letters to your address?

  1. #1
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    Which bank does NOT send balance statement letters to your address?

    Hi everybody,

    Does anyone here knows which bank doesn't send balance statement letters to your address? I live with strangers in a rented house and I wouldn't want any of them looking through my account. There are thieves stealing letters here

  2. #2
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    You can always ask the bank to send your statement to your office address.

    ANZ Bank in Singapore do not send me my statement... its statements are sent online.

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  3. #3
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    it is not the bank but the type of account
    For any bank (no need to name the bank), you may have various account types -
    • Passbook account - you can only update account data in the passbook
    • Statement account - statements sent to you by normal mail


    And for any type of account you can choose to subscribe to internet banking whereby you can login on the internet to do banking and of course to check your account balances

    At the moment (I believe all banks) encourage all subscribers to use internet banking where the option is to stop sending monthly statements to you by post. In fact my bank will charge me an additional fee if I insist on receiving paper statements in the post.

    And do you know that now if you write cheques, there is an additional charge of 55sen for every piece of paper cheque. You are encouraged to use internet banking whereby instead of writing cheques, you can pay the other party using internet GIRO since all the banks are connected via MEPS.

    Therefore, if you are still using statement accounts with paper, you are already out of date. And the question you asked should not even be asked

  4. #4
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    Boss .. this is the email I got from my main bank:-

    "Effective 1 April 2014, a cheque processing fee of RM0.50 will be imposed in addition to the RM0.15 stamp duty per cheque leaf.
    Switch to XXXXXX Internet Banking to enjoy Interbank GIRO (IBG) transfers at ONLY RM0.10 per transactions."

    So, total cost per cheque txn is RM0.65 ...
    So it is much^3 cheaper via IBF trf ... but a little "laechae" .. to register all those bills ... whereas just writing out a cheque doesn't need you to carry your tablet around!~

    Khap!~

  5. #5
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    Yup!...good heads up about this... Will take a walk to my bank and tell them to stop sending any statement to my address..no need for it since my acc is managed online.

  6. #6
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    Thanks! You could say that I AM quite "outdated" since I'm still getting it! Thanks again!

  7. #7
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    Maxis gives you a rebate of RM5 for itemised billing charges listing if you choose to receive your bill online.

  8. #8
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    my savings account and current bank statement can be obtained from the online statement, chargeable only if requested a printed statement..... else i just monitor online...

  9. #9
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    Quote Originally Posted by lxshng View Post
    There are thieves stealing letters here.
    Do you still want to live there?
    Last edited by RGRaj; 30-12-2013 at 10:57 AM. Reason: wrong word used

  10. #10
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    Quote Originally Posted by kwchang View Post

    Therefore, if you are still using statement accounts with paper, you are already out of date. And the question you asked should not even be asked.
    I cannot understand why Chang sounds so arrogant when forumers ask a question.

    Don't we agree this is a community Forum? Or does it bother Chang so much when he reads post that are below his level of IT expectations?

    - Does he know that a printed bank account statement is an essential document in loan application, Visa application and renewal, etc ?
    - Does he think everyone will have a laptop and printer at home ?
    - Does he think everyone can browse internet in the office to check bank statements and print the statements using the company’s IT equipment ?

    Sometimes I wonder if people registering to post on the Forum need to pass some assessment of their ICT know-how and possession of IT equipment ? What is all this? Why is it I seem to get the whiff that Chang prefers to see some forumers who are well-verse in IT and same par like him ?

  11. #11
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    Quote Originally Posted by lxshng View Post
    Hi everybody,

    Does anyone here knows which bank doesn't send balance statement letters to your address? I live with strangers in a rented house and I wouldn't want any of them looking through my account. There are thieves stealing letters here
    The issue is not the bank or the printed bank statements. The issue is the strangers in the house.

    You need to move to new place or ask the bank to mail the statements to your office address.

    There will be other important documents/statements that need to mail to you like the EPF statement, insurance renewal notice and annual statement, etc.

  12. #12
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    Quote Originally Posted by chookyan View Post
    Maxis gives you a rebate of RM5 for itemised billing charges listing if you choose to receive your bill online.
    This is good news but may not be useful to those whose phone bill is paid by their employer.

    Income Tax Act requires original bill/receipts to be attached together when the money spent is being declared as expenses.

    Even with high-end color printer, it is still not allowed to print the statement on-line for expenses claim.

  13. #13
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    Quote Originally Posted by mykern View Post

    "Effective 1 April 2014, a cheque processing fee of RM0.50 will be imposed in addition to the RM0.15 stamp duty per cheque leaf. Switch to XXXXXX Internet Banking to enjoy Interbank GIRO (IBG) transfers at ONLY RM0.10 per transactions."

    So, total cost per cheque txn is RM0.65 ...
    So it is much^3 cheaper via IBF trf ... but a little "laechae" .. to register all those bills ... whereas just writing out a cheque doesn't need you to carry your tablet around!~
    Cheque is still a widely-accepted mode of payment when paying a relatively large amount of money.

    When you pay a contractor for renovation expenses, when you pay for your kid’s schooling fee, when you pay down payment or deposit for big items, etc..... you have to write a cheque as not all business entities and individuals use GIRO transfer.

    I think we don’t write cheque that often now..... me think is less than 20 pieces in a year. I guess the savings is negligible.

  14. #14
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    Quote Originally Posted by Rhiga View Post
    Cheque is still a widely-accepted mode of payment when paying a relatively large amount of money.

    When you pay a contractor for renovation expenses, when you pay for your kid’s schooling fee, when you pay down payment or deposit for big items, etc..... you have to write a cheque as not all business entities and individuals use GIRO transfer.

    I think we don’t write cheque that often now..... me think is less than 20 pieces in a year. I guess the savings is negligible.

    I will not pay LHDN via online transfer coz those fellas will take months to track your payment down and match the payment to your file... I found out the hard way and they wanted to fine me for late payment... so now I ask my driver go straight to their counter at Weld Quay in Penang and pay with a cheque and chop sign acknowledgement on an accompanying letter... this is so when you pay "withholding tax" on a commission payment so that Bank Negara won't hold your telegraphic transfers back because "taksiran cukai belum di selesaikan"...

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  15. #15
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    Quote Originally Posted by Rhiga View Post
    I cannot understand why Chang sounds so arrogant when forumers ask a question...
    OK, now that I looked at it again, I owe everyone an apology if I sounded arrogant. Guilty as charged. I assure you that it wasn't intended at a personal level. This is because if I remember it correctly, the banks have been informing all subscribers of the conversion to online transactions over the past few years but I guess a new bank subscriber would have missed it.

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