Findings of a behavioural study by London Economics for Keep Me Posted UK (2015) show that those who receive their bank statements on paper are more likely to understand and retain the information, to take appropriate action and to make better financial decisions as a result.
- People are more than twice as likely to recall their current balance when they receive their bank statement on paper (82% compared to 32% who receive online statements).
- People who receive paper statements are better at correctly assessing the financial health of their account (75% compared to 48%).
- 90% of those who receive paper statements are better able to spot ways in which to improve their finances (compared to 77%).
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