Electronic statements no limit in history
Submitted by warebeach on Thu, 2010/02/25 - 15:25
Category:
Self–service banking I have approached Standard Bank about receiving my 5 years historical statements in electronic format.
They can't do that, NO, I must pay +-R15 per paper statement which is posted to my branch which works out at about R10,000.
I can't believe that you cannot press a few computer buttons and email me the data so I can save time and import into my accounting system, we are going backwards and not forwards.
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Electronic statements older than 6 months
The issue at hand is that (depending on the product) statements get forwarded (in principle) to each and every accountholder, eg current, card and VAF accounts receives monthly statements, Home Loans accountholders receive their statements every 6 months, etc
We only store the last 6 months on our live systems (BDS) and in general the previous 4 to 5 years are stored off site in our archives. This mainly has to do with the vast amount of data that needs to be stored. So it is not as easy as the pressing of a button and everything is ready. :)