Citibank to prevent clients receiving paper statements from accessing app

Citibank began notifying its customers that if they continue to opt in for paper statements, they will soon lose access to its banking app.

“We’re requiring you to go Paperless to maintain digital access to your account,” the site told customers expecting paper statements.

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This comes despite the Consumer Financial Protection Bureau citing federal law that “a credit card issuer must establish procedures to ensure that statements are mailed to cardholders at least 21 days before a payment is due. ” However, creditors are not required to send statements if the account is considered uncollectible, the account is at the center of a pending legal case, or if there aren’t any further interest or fees to be charged to the account. However, as long as the account has a charge of over $1, cardholders can expect a statement.

In 2022, about two-thirds of credit card users opted for paperless billing, according to the CFPB. This was a jump from 2015 when 36% chose paperless billing.

Mailed statements come at a cost to bankers, who have urged their customers to “go green” by conserving paper. As most statements come in an envelope with a plastic window, the envelopes are not recyclable.

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Over 72% of credit card holders paid their bills online last year, according to the CFPB.

The CFPB suggests on its website that those who want to continue receiving mailed statements should review their cardholder agreement or contact customer service.