Should You Get Statements from Banks Online?

Many banks are offering customers the option of receiving monthly statements online. Should you sign up for electronic access to your savings and checking accounts?

The main reason to receive electronic statements for savings and checking accounts is to cut down on using paper. Whether you are concerned about the environment and want to save trees, or simply want to reduce clutter, going paperless can help.

When you sign up for accounts at online banks, they usually require you to receive statements electronically. But more brick and mortar banks are also urging customers to go paperless. That’s because it’s cheaper for them to email your statement than to mail it.

You can also choose to receive privacy notices and other important documents from your bank online. There is usually no fee to enroll in a bank’s program to receive electronic statements. Usually you have access to statements for many months after they’ve been issued.

Going paperless can also help you cut down on the potential for fraud. It’s not uncommon for identity thieves to go through mailboxes or trash to find savings and checking account statements or credit card mailings. If you print out copies of bank  statements, be sure to shred before throwing them out.

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