Q&A with Becky Franklin
Online banking saves paper, time
Q: For those who don't use online banking, what are e-statements?
A: An e-statement is a paperless monthly bank account statement that can be accessed online. The information contained in the e-statement is no different from an account statement that comes to you via mail. The only difference is that you control when you receive the statement. You simply log in to a secure online banking site to view your account activity. An alert is typically emailed to you monthly, letting you know your statement is ready for viewing.
Q: Do you see a trend in consumers moving to e-statements and other online banking tools?
A: Absolutely. Not only are more people concerned with the environment and decreasing paper use, but also consumers enjoy the convenience of online banking. From smartphones to laptops, we all access the Internet multiple times a day, allowing us to view our banking statements from anywhere and at any time. By simply snapping a photo of a check using their smartphones, consumers now can deposit checks without ever visiting a bank.
Q: What are some other benefits of switching from paper statements to e-statements?
A: E-statements are cost-effective and arrive days before traditional paper statements. But most importantly, they're safe and secure. Accessing e-statements online eliminates the risk of personal financial information being lost or stolen in the mail, and account information is protected by the latest security measures through secure account logins. With the tax season upon us, now is the ideal time to make the switch.
PAULA BURKES, BUSINESS WRITER