According to a 2017 survey by Javelin Strategy and Research, approximately 61 percent of checking account customers subscribe to paperless statements. Are you one of them? Discover three reasons to go paperless with your banking statements and other communications this year.
Reason #1: Help the Environment
Perhaps the most obvious benefit of going paperless with your banking is to save trees and reduce paper waste. The average American uses the equivalent of one 100-foot-tall Douglas fir tree worth of paper each year, according to the U.S. Environmental Protection Agency.
By switching to paper statements and other forms of communication with your financial institution, you’ll contribute to a greener environment.
Reason #2: Less Paper Cluttering Your Home
According to the National Association of Professional Organizers, most consumers don’t look at 80 percent of the paper mail we receive after looking at it just once.
For many people, bank statements can fall into that category. Electronic banking statements and communications will reduce the number of paper you have entering your home and help reduce the paper piles that tend to accumulate on hallway tables and kitchen counters.
Reason #3: Better Security for Personal Information
Per The Balance contributor Latoya Irby, going paperless is a better way to protect your personal information from identity theft. All it takes is for one paper statement to fall into the wrong hands or arrive at the wrong address for a stranger to access personal data.
Electronic banking usually involves multifactor authentication for a user to access their financial account. Many financial institutions also use a high level of encryption to protect your online ID and password from hackers, making digital communications often safer than hard copies.
More Ways to Reduce Paper Usage
Reducing the amount of paper you go through isn’t just better for the environment and safer – it can also help you save money.
Try a few of these tips from the World Wide Fund for Nature to cut the amount of paper you use and feel good that you’re making a smart choice.
- • Decide if you really need to print something. Most emails – especially very short ones – don’t need to be printed out. And if they do, see if you can print on both sides or fit several sheets onto one.
- • Re-use the paper you do print on. If you only printed on one side, use the other side for notes or scratch paper.
- • Buy recycled paper products. This reduces the number of trees being cut down to produce new paper. At work, see if it’s possible to start buying recycled products.
- • Think beyond printer paper and remember the other paper products you use every day – like disposable coffee cups, napkins and paper towels, tissues, and more. Try to limit your use of these items by switching to more sustainable products.
Start Banking Online with Minster Bank
By adopting electronic banking statements and finding other ways to reduce paper usage, you can do your part to help reduce the carbon footprint. You’ll also experience the peace of mind that comes from less paper waste in your home and increased security for your personal information.
Get started with online and mobile banking through Minster Bank today – it’s easy. You’ll be able to check your account balances, deposit checks, set up automatic bill payments and more, wherever you are.
Published by Minster Bank
Includes copyrighted material of IMakeNews, Inc. and its suppliers.