Consumers in the UK are launching a new campaign to stop bill statements from further diminishing into a digital vortex.
According to the Financial Times, the campaign launched July 8 and is called “Keep Me Posted.” The broad-based movement includes representatives from charities, consumer groups, and businesses from various sectors. Members have expressed concern about financial services switching to a digital system and the lack of paper payment bills. Constituents of the campaign are aiming to protect consumers’ rights to receive paper bills because of the adverse effects on Brit’s finances.
The campaign is based on recent research from Opinium, which discovered that 84 percent of consumers were unsatisfied with companies changing how they dealt with customer communication. Consumers are unhappy with their lack of choice and consideration, but there is no legislation in the UK that can help prevent such cases.
Several businesses in the country have ditched paper statements in effort to move forward with the digital migration, namely energy companies, telecom firms and bank institutions. Despite the companies that claim to be dropping paper bills for environment-friendly purposes, CNN reported different motivations that were less environmentally oriented.
Banks’ marketing teams frequently play up the green benefits of transferring to online bank statements. It is true banks are hoping to save money, but mostly on their end and not the consumers’. CNN reported that banks are looking for ways to compensate for lost revenue from the credit crunch.
The Keep Me Posted campaign is attempting to raise awareness for consumer choice, and members are reminding stakeholders that the paperless movement may not be equally beneficial for all customer types. The Opinium research found that four-in-10 customers said the reduction of paper statements has negatively affected their finances. Some said that not having a tangible bill statement often causes them to miss bill payments.
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Moreover, it is important to note the British consumers who are still Internet-illiterate. The campaign cited that 7.1 million adults, or 14 percent, have still never used the Internet, while 16 million consumers claim they still don’t have up-to-bar Internet skills. The campaign also references consumers who suffer from mental health problems and other limiting deficits.
“In my daily life I hear many concerns about the move to paperless bills and statements but even more concerns about the consumer choice being removed. There is no doubt that some businesses have forgotten to take their customers with them on that journey,” Judith Donovan, chair of the campaign, told the Financial Times.
To read the full story at the Financial Times click here, or to read the article at CNN Money click here.
