Why It’s Time to Take Your Financial Statements Online

In a battle of paper vs. eStatements, which one should you choose?

01/16/2018

Why It’s Time to Take Your Financial Statements Online

Online Banking has opened up a world of convenience to financial consumers. Instead of waiting patiently for a paper statement to arrive in the mail, banking customers can log in anytime and anywhere to review the status of their bank account.
 
Although waiting on the post office to deliver your bank statement takes patience, once it arrives, all you need to do is open it and review, a very tangible reminder to pay attention to your finances. With eStatements, if you need a hard copy of the document, you’ll simply need to request a copy from your bank.
 
Other than that, there is little difference between paper and eStatements, but there are additional benefits.
 

Online benefits

Just like shopping or paying bills online affords you convenience and saves you time, so will eStatements. And, with eStatements, you can easily cross-check your account information with your online credit card and other bills.
 
Plus, eStatements can help streamline your at-home work space because they don’t add to your paperwork pile.
 
“You do save paper. You do have fewer pages to file away. If you pay your bills online, you can review your statement and be sure the charges and fees are accurate before you pay. This saves time as well as paper,” explains NerdWallet.com writer Ellen Cannon.
 
Because eStatements live in the digital world, you have 24/7 access, which can uncover suspicious fees or charges, according to Cannon. Discovering problems sooner, including Identity Theft activity, can save you money and stop a small problem or mistake from getting out of hand.
 
With eStatements, keeping them in one place is easy—there’s no worry about misfiling a piece of paper. According to Cannon, being well-organized is crucial for money management, and with eStatements she suggests creating a folder on your hard drive that can house your important financial records; you can customize your computer filing system to reflect individual accounts or even your bills.
 
Although paper statements are tried and true and deliver a complete record of your bank account, by the time you open it that record might be outdated. Because eStatements are available all the time, you can keep track of your accounts and bills as well as rectify wrong charges or inapplicable fees sooner.
 
Sign up for free eStatements today. Enroll through your Online Banking account.

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