What I wanted (and still want) is a secure place to hold statements from banks for savings accounts, credit cards, etc. and brokerages.
I bank with two credit unions. Years ago, they implemented a fee of $2/month for paper statements. I get it, printing and mailing statements costs money. But it also comes to me without me having to log into an account and navigate my way to where the statement is.
I'd prefer to have them send the statement each month to an email address I specify. I get that they should take security seriously, so practically maybe that only means Gmail, Apple Mail, etc. are whitelisted.
I used to think there was a business idea here, that the banks should be willing to pay $.10/statement to save on the cost of paper. I'd be willing to use the service because the statements would automatically go to it and be retained for forever.
The reality is, I'm afraid, that the banks don't want you looking at statements because then you might find errors and dispute them and that costs the banks money.
Yeah I’ve had this same idea for the same reasons, and came to the same conclusions that without legislation, no incentive exists to send statements as attachments in emails or to store them with a 3rd party where they can’t be tampered with when a mistake is discovered
If I were a bank, I would want to send statements containing financial data only to secure places. So that means something like Google, where they have a serious security team protecting accounts and not something like Ed's ISP and Bait Shop.
The threat would be from people cracking Ed's and getting the statements there, possibly without the sysadmins at Ed's ever knowing that it had happened.
I bank with two credit unions. Years ago, they implemented a fee of $2/month for paper statements. I get it, printing and mailing statements costs money. But it also comes to me without me having to log into an account and navigate my way to where the statement is.
I'd prefer to have them send the statement each month to an email address I specify. I get that they should take security seriously, so practically maybe that only means Gmail, Apple Mail, etc. are whitelisted.
I used to think there was a business idea here, that the banks should be willing to pay $.10/statement to save on the cost of paper. I'd be willing to use the service because the statements would automatically go to it and be retained for forever.
The reality is, I'm afraid, that the banks don't want you looking at statements because then you might find errors and dispute them and that costs the banks money.