5 Reasons To Make The Switch To Paperless Statements

Staying on top of your bank accounts using traditional paper-based methods can be challenging and time-consuming. Receiving bank statements by mail can delay your access to important financial information, and depositing paper checks requires a drive to the bank. Manually tracking finances can cause errors by overlooking transactions or miscalculating balances, leading to missed payments and fees. 

Learn how transitioning to digital banking can empower you to take control of your finances while enjoying a more convenient and secure banking experience.

What are Paperless statements?

Paperless statements are digital versions of bank statements sent directly to your email and online banking account. Paperless statements provide detailed account information for all types of bank accounts—checking, savings, and loans. This includes transaction history, account balances, and monthly summaries.

Signing up for paperless statements is a straightforward process that can be completed within just a few minutes through our website or mobile app.
 

1. Timely Access to Account Information

Paperless statements eliminate printing, packaging, and mailing, so you receive your bank statement faster. This allows you to check your balances, review transactions, and monitor spending, without having to wait for copies in the mail.

Plus, the 24/7 availability of paperless statements means you can manage your accounts right from your computer or mobile device with secure Internet access. This level of accessibility empowers you to take control of your financial management on the go.

2. More Organization and Less Clutter

Paper-based bank statements can pile up quickly making it difficult to stay organized. Physical statements take up valuable space, making it harder to keep financial records organized and accessible. With paperless statements, managing your financial documents has never been easier—they are conveniently organized and easily accessible online for an extended period.

This simplifies organization, makes tracking financial activity easier, and eliminates the need to shred outdated documents that are no longer needed.  

3. Helpful During Tax Season

Preparing personal and business income taxes can often feel overwhelming due to the extensive financial information and documentation required. However, utilizing paperless statements can save time and be very helpful during the busy tax season. They let you quickly access important financial documents, such as bank statements, investment reports, and transaction histories, and download them to your computer or mobile device.

Having these digital documents handy streamlines the tax preparation process, reduces errors and helps you meet deadlines. You can print the files or share them with your accountant to include in your tax return.

4. Enhanced Account Security

We live in an era where identity theft and financial fraud are increasingly sophisticated, with criminals illegally accessing financial information. One tactic is mail theft, where thieves steal sensitive documents directly from mailboxes. To safeguard against these threats, it is essential to limit the amount of sensitive information sent through the mail. Switching to paperless statements helps you protect your financial information since only you can access them via computer or mobile device. 

5. Reduced Environmental Impact

Lastly, switching to paperless statements helps contribute to a greener planet. Digital bank statements help reduce paper waste and the carbon footprint of printing and mailing paper documents. Each paperless statement reduces the environmental impact of producing and disposing paper and mailing envelopes, which lowers landfill contributions.


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.