Citibank — Bank force switching to e-statement and denying permanenet paper statement

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Chennai, Tamil Nadu

Hi, I hold a Citibank credit card for many years, off and on since I took my first job in 1993. . The company insists on switching me to e-statements without my consent. When I call the service center, they say " we will switch you back to paper, however, you will receive an e-mail in 6 months asking you to switch to e-statement again and if you do not reply to the e-mail, you will be automatically switched back to e-statement" This is an unethical, unscrupulous and blatantly profit-motivated practice by Citibank. It is very well known fact that when a customer does not get a paper statement he will tend to forget to pay in time. Most banking analysts say that the rate of non-payment doubles when paper statements are stopped and e-statements are substituted. In this case, the bank can charge huge amounts as late payment penalties and interest. Customer service flatly refused to switch me permanently to paper statements. told them it is not possible for me to wait and watch for the one e-mail that if I do not relpy, my paper statements will get cut off - I receive so many e-mail every day. The agent basically said that is my problem not the bank's. Above all, I have lost all respect for a bank that does not take consent from customers before forcing them to accept e-statements. They brand it as "go green" but the worst kept secret is it is only greed for profits from late charges and interest that makes Citibank do this. I hope the regulators take note of this and do something to help innocent customers.