Scotia Bank Investments still stuck in it's old ways

[Alfred25]

Scotia Investments still sends me a paper copy of it's Personal Portfolio Summary every three months.

I've asked them to stop and instead send it to me electronically by email or through epost because where I live mail can be stuffed in the wrong mailbox and I had my mail opened by mistake. The Personal Portfolio Summary contains all details about my savings and mortgage!

They say they can't stop ...how ridiculous is that?

Time to switch!

[Donomight25]

Scotia Investments still sends me a paper copy of it's Personal Portfolio Summary every three months.

I've asked them to stop and instead send it to me electronically by email or through epost because where I live mail can be stuffed in the wrong mailbox and I had my mail opened by mistake. The Personal Portfolio Summary contains all details about my savings and mortgage!

They say they can't stop ...how ridiculous is that?

Time to switch!

Some contracts regarding some credit products require a physical paper trail leading back to the primary residence. This usually includes mortgages, commercial and residential.

The bank is responsible for:
Electronic submission via e-mail
Electronic submission via fax
Electronic submission via phone
Electronic submission via scan

Any of these methods can be intercepted on a regular basis. The bank could also send you something via e-mail that you can manipulate to your advantage, ie adding/excluding a digit.

The bank is NOT responsible for:

Regular mail.

Canada Post assumes all responsibility with the bank drops it in the mail. In the banks mind, if something goes wrong and someone gets your mail, goes to wrong house ect, they're covered under contractual/federal law.

[The Ivory Actuary]

Scotia Investments still sends me a paper copy of it's Personal Portfolio Summary every three months.

I've asked them to stop and instead send it to me electronically by email or through epost because where I live mail can be stuffed in the wrong mailbox and I had my mail opened by mistake. The Personal Portfolio Summary contains all details about my savings and mortgage!

They say they can't stop ...how ridiculous is that?

Time to switch!

In a past life, I worked for a bank. If any statements were returned as undeliverable, all further postal communication was stopped until the account holder confirmed his address.

You may want to try this ploy. Just write RTS on the unopened envelope and pop it in any mailbox. It will find its way back to Scotiabank and they may hold all your mail thereafter.

[Donomight25]

In a past life, I worked for a bank. If any statements were returned as undeliverable, all further postal communication was stopped until the account holder confirmed his address.

You may want to try this ploy. Just write RTS on the unopened envelope and pop it in any mailbox. It will find its way back to Scotiabank and they may hold all your mail thereafter.

All RTS does is changes the default address in the system to the branches address. Your mail is held there until your address is updated.

The mail is then sent to your new/old address.

[The Ivory Actuary]

All RTS does is changes the default address in the system to the branches address. Your mail is held there until your address is updated.

The mail is then sent to your new/old address.

Correct, the mail is held at the branch. Now suppose OP never updates/confirms his address.

[YYZFA]

All this is fine, but shouldn't Scotiabank just honour the OP's wishes to not have paper statements sent to him?

[The Ivory Actuary]

All this is fine, but shouldn't Scotiabank just honour the OP's wishes to not have paper statements sent to him?

In Magicland, yes. :razz:

[squid]

In Magicland, yes. :razz:

Where is this Magicland you speak of? I wish to visit!

[Donomight25]

Correct, the mail is held at the branch. Now suppose OP never updates/confirms his address.


Never updates/confirms address? 90days of RTS mail flags an account. A CSR gets on the phone with you. No contact?

Account closed at Grantor's Request.

This is per bank, creditor, contract ect.