Research on 500 consumers revealed that around three in four would feel inconvenienced and annoyed if paper statements were discontinued.

Eight in 10 respondents said that they are more likely to read their statements if they receive both print and online copies of bills and statements, while seven in 10 said they are more likely to notice advertising on paper statements.

Royal Mail head of media development Antony Miller said: "Companies that do not give their customers a choice about how they receive statements really run the risk of losing them to competitors that do. We want to remind companies of the value of transactional mail and its impact on brand loyalty, customer retention and overall business success."

The research also showed that it was the most affluent among those polled who were most likely to be using paper bills and statements.