Survey: Australian Consumers Weary of Late Payment Letters from Banks

“Stop posting us letters when we miss payments and start texting or emailing us.” That was the resounding message from Australian consumers in a new survey on lender communications by Silicon Valley analytics firm FICO. While 18 percent of respondents said credit grantors send late-payment reminders via the mail, only 6 percent prefer that channel. The top preference in Australia was for SMS messages (39 percent), with email following at 30 percent.

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