Are you still using paper statements? Choose today as the day you start embracing e-statements, and not just to make Mother Earth happy.
Are you still using paper statements? Choose today as the day you start embracing e-statements, and not just to make Mother Earth happy. Here are 4 reasons e-statements are superior to paper.
1. They are environmentally friendly
Think of all the paper you save after eliminating a year of paper statements and envelopes. Americans currently use more than 70 million tons of paper every year with much of that paper ending up in landfills. Paper now accounts for about 12% of landfill waste.
2. E-statements are more secure
Paper records of any type are less secure than electronic formats. By accepting e-statements electronically, you eliminate the danger of your statement getting lost or stolen in the mail. Most banks and credit unions protect electronic statements further by making them accessible only through their websites which are encrypted and much much safer than a mailbox.
3. E-statements can be received faster
You can access your statement information more quickly when it doesn’t have to be mailed to you. Plus, if you happen to be away from home at the time, you can still get your statement via any computer. If you need a printed copy, you can print only the ones you need at home and still have them before the mail carrier gets them to your house.
4. E-statements are easier to organize
Whether you're getting organized as part of your new year's resolutions, spring cleaning, prepping for your taxes, or any other clean-up excuse, e-statements are easier to organize. Since electronic statements are easily accessible through your bank or credit union’s website, they allow you to eliminate sifting through piles of paper in your office.
5. E-statements cost much less to produce
Any time a business has to spend money, customers end up covering the costs, and that's true for your financial institution, too. Besides the cost of printing statements, postage rates are always climbing. Switching to e-statements helps lower the operating costs of the bank or credit union and that benefits account holders like you.
Keep this in mind: for record-keeping purposes, financial institutions keep your account statements in case you need them. Because of this, they already have your statements electronically, so printing costs are in addition to the electronic versions they have for all their account holders.
6. E-statements are available when you need them
Yes, they arrive faster than paper statements, but if you aren't in any hurry to review your account statements, you don't have to keep track of them once they arrive at your house. Whether you review your e-statements at the beginning of every month, or maybe a week or two later, you can always find them in the same place.
Most online banking platforms only keep a limited history of your statements, so even if you don't review them immediately, make time to download them at least every quarter.
If you’re currently looking for a free checking account that rewards you for doing things like choosing e-statements instead of paper, we know the perfect one. Every Kasasa account is free and gives you the chance to get even rewards when you complete certain actions that make or save your bank or credit union money (such as receiving e-statements). Every month that you help them out, they reward you with things you want, like cash back, music downloads, money to save, and more.