In a shift that can be rationalized as environmentally friendly, Bank of America is telling customers that they must agree to receive disclosures, notifications, statements and bills via e-mail if they want to continue using online banking.
Nunya, who tipped us off to the announcement, writes:
The premise is simple. Consent to receive legal disclosures, notifications and your monthly bill electronically or Bank of America denies you access to your banking information online.
What part of “I want to formally receive my bill and legal disclosures in the mail” is so difficult? Since when do we trade in physically delivery to our home and mail forwarding and return address service for “If you fail to update or change an incorrect e-mail address… you agree that any Communications shall nevertheless be deemed to have been provided to you… (if) e-mailed to the e-mail address we have for you in our records.”
The Library of Congress reports they’ve lost all recordings of the first 10 years of broadcast radio thanks to corruption in the data files after converting to digital, so why should I be happy everyone is forcing me to accept digital notification of legally binding contracts and invoices?
If you bank with BofA, are you considering turning down the offer you can’t refuse?