6 reasons to switch to paperless banking

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6 reasons to switch to paperless banking

Do you feel more secure with a stack of paper bills in hand to sort and file? Is mailing bill payments a monthly ritual you’ve never questioned? Switching to electronic banking and billing can streamline your financial life. Not merely an alternate method, e-banking will save you time, money and effort while adding security to your banking routines.

Many people stick to tried-and-true paper bookkeeping because they believe it’s the only certain way to keep track of financial details, not only for themselves but for the oft-feared IRS audit, future loan applications and more. Let us show you how e-banking and e-billing not only invalidate that theory but give you plenty of other benefits, too.

  1. Get rid of the clutter. It’s absolutely unnecessary to stuff your desk and file cabinets with reams of bill and bank account statements. When your records are electronic, you can access them online at any time.
  2. Find what you need more quickly than ever. Even if you’ve got your filing system down pat, we’re betting an online search can put your finger on that statement you need even more quickly. Electronic records also allow you to customize your search; look for transactions within a certain date range, search for keywords, or find specific dollar amounts.
  3. Safeguard the security of your personal data. All it takes to destroy the security of your banking and billing records is a thief who swipes your mail right out of the mailbox—or plucks statements out of the trash once you’re done with them. Online banking, mobile banking, and electronic bill payments bring you a whole new level of security; including passwords, safety images, challenge questions, and top-rung encryption.
  4. Retrieve your records even after loss or disaster. Nobody wants to think about fire, flood or theft, but all three can destroy your financial records unless they’re stored safely online. Double down with redundant security by backing up your records in cloud storage or on a hard drive.
  5. Go easy on the environment. Less paper and fewer resources spent creating, mailing, and delivering bills and statements mean a lower impact on the environment.
  6. Save on mailing costs. Your bank and creditors save money when they don’t have to mail endless statements and bills to you. You save on postage and envelopes, checks, and trips to the post office when you don’t have to mail checks back to them.

The tangible benefits of electronic banking and billing mean more convenience and less cost and hassle for you—benefits you can bank on.

 

Posted in: Personal Finance, Saving Money

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