Why are bank statements so expensive?

eth0_

I rang my bank (ulster bank) today to ask for 3 months statements so I can apply for a loan with another bank (well, I didn't tell them that ) and they said sure, it's €3.81 for the first page, and €2.54 for each additional page.

So i'm looking at about 40 euro or more to get 10 or so sheets of paper, and the fact I pay 8 euro a month for a so-called premium account with them counts for nothing!

How dare banks charge this much!
Does anyone here work in a bank and can you tell me why on earth it costs so much to print a few sheets of paper?
Is your printer toner made of platinum and diamond dust?

sceptre

They do charge a crazy amount when you want back-statements ordered (from before the date of your last official statement).

If it's since the date of your last statement, just get one via the ATM - it'll probably cost about a quid for the lot.

Or do what I manage to do (but then I can sometimes be the most charming person on earth) - wander in, look a bit flustered, ask if they can check a particular transaction that might have happened some time about two and a half months ago (imply, without saying it, that one of your lodgements may have gone missing). Assuming it's their fault, they'll print the whole list of transactions as far back as "er, about three months ago" on a nice white sheet.

Works every time - when my girlfriend was in Japan and couldn't remember her online details I managed to get six months of her statement from the bank for her in this way (which the bank should be hanged for but there you go)

You should also be able to print up a statement if you're signed up for whatever Ulster Bank have in the way of online banking.

Victor

Their objective is to see realisticly how much you are earning and spending.

Close the account (or threaten to) and they have to give you a statement then. Or try getting a mini-statement from a machine.

The reason they charge so much? (A) Because they can. (B) It is an added service - banks don't make money on ordinary accounts(C) They want people to take a bit more resposibility with statements and use automated statement printers (not sure if UB have these).

govinda

Ulster Bank don't have automated printers (like BOI one's), no. I got stung with this before too. I was applying for a non-UB credit card and couldn't find my last quarterly statement bank statement to give to the credit card people. I rang my UB branch and they said "Sure, we'll post out a copy to you", no mention of a fee. I got the copy (and the credit card!) and forgot about it, until my next statement. For 5 badly photocopied pages (toner running down each page), I was charged 13 pounds... ....I take better care of my bank statements now! :-(

Victor

Oh yeah, showing up to the other bank with photocopies won't look great (it show a certain 'relaxed' attitude to financial matters). However showing up with the originals an copies would portray some consideration and preparation.

eth0_

Well I don't think a statement from the statement printer would do for a loan application, nor anything I print from my internet banking account.

I then asked (my own bank) could I just apply for the loan through them, and they said i'd have to come into the branch to apply...which isn't easy as i'm in Dublin all week. You can't even apply in another branch! You used to be able to apply over the phone but no, they've changed their procedure.

So i'm really thinking of cancelling my account there, as I said, I pay for a 'premium' account and I get f*ck all in return!
Can anyone recommend a decent bank

sceptre

Originally posted by eth0_
Can anyone recommend a decent bank

Heh, you'd be lucky.

I find the staff quite good in the TSB

Having said that my account is still with BOI - it's just my SSAI is with TSB

BuffyBot

I find AIB quite good.

Telephone banking is excellent, and you can also apply for loans online and over the phone (just did an online one last friday, had the cash by this wednesday - was well impressed)

nlgbbbblth

Bank statements are free of charge
and can be issued weekly, monthly, 2 monthly, quaterly, 6 monthly or annually
you can also just ring up and order one at any time and it will show all transactions since the last one was printed

duplicate [i.e. copies of old bank statements] which is what you asked for cost the amounts outlined above - that is because they have to be manually produced from microfiche -- hence the charge

the solution: hang onto your bank statements i.e. don't lose them

eth0_

Originally posted by nlgbbbblth
Bank statements are free of charge
and can be issued weekly, monthly, 2 monthly, quaterly, 6 monthly or annually

THanks for your input, a year later....
I was talking about duplicates from my original post. It's not a bother for them to print them. When I *did* go in and get one printed for the last quarter they just opened up my account on the computer and printed it all out, I had it within 15 mins.

nlgbbbblth

re: what you got printed out - "for the last quarter"

that's a transactions printout and does not have a running balance total

it justs lists the transactions, the amounts and whether they are debit or credit

it is not on headed paper so some places may not accept it as a statement

it is free


duplicates on the other hand are printed from microfiche - and look like black and white photcopies