How would you like Bank Statement Notifications sent?

Hey everyone :wave: We’ve been reviewing our approach to bank statements recently, and we were hoping for your input. Regulation requires us to send you a written notification each month confirming that your bank statement for the previous month is available. Unfortunately, push notifications and feed items don’t work for this, and it has to be a notification written to you. You surely will have seen this come through over your in-app chat from us before!

We’ve been considering moving these notifications to email instead but we’d love to hear what you prefer. Would you like to see these notifications as an email :e-mail:, or do you like receiving them via the in-app chat :calling: ? Let us know!

For me do whichever is easiest/cheapest/functional/legal for you. I use two aggregators regularly so do not need paper statements [which although I am paperless with FD they still have to send apparently] and would not draw one down when available. That’s just me of course. R-

I’d go with an in-app chat ‘Your monthly statement is available’ notification - keeping the whole comms thing within the Monzo app.

There’s no issue with notifications by email in general (other banks do it), but it opens up yet another channel to elaborate phishing scams which is an increasing danger (looky-likey statement-ready emails with a link to a web-page which looks just like Monzo and the usual flow through to a false login page)


It took me a hot second to realise this is the US and not the UK :laughing:


Doh! R-

I don’t like how it clutters my in-app chat, so would personally prefer email. Even better would be an opt-out to the notification, though I realise US regulations might not allow this.

We don’t have such a notification in the U.K., presumably because no such regulation requires it, so I did realise straight away!

UK-specific related rules

I believe banks do have to provide a paper printed “annual summary” document every year in the U.K., so although regulations differ in precise details it’s probably all with the same aim in mind - to help consumers stay aware of what charges, etc are being incurred on their accounts.

If we are allowed an opinion here, though, I think in-app chat would be best. It’s logical and probably easier/cheaper for Monzo, avoids the risk of phishing (as already said) and avoids adding to email clutter. Personally, I already get too many pointless emails so would definitely prefer that option if it were a thing in the U.K.