Are you still receiving your financial statements in the mail? Many financial institutions are offering a paperless alternative. Paperless banking is convenient, accessible and safe. Here is why you should sign up for paperless statements.

24/7 access to your account

Once your online account is set up, you can log in at any time to check your balance, review recent transactions and pay your bills online.

Being able to access your account at any time makes managing your finances more convenient and will help you stick to your budget.

Reliable archives

Keeping track of paper statements can be challenging. You can declutter your home by switching to electronic statements.

Banks and other financial institutions will keep an archive of your past statements. You can easily access previous statements by logging into your account. Whether you want to check a transaction or need to track your spending, retrieval of past statements only takes a few seconds.

Personal data safety

Having paper statements sent to your home is a potential safety concern because they could be lost or stolen in transit.

Paperless banking is safer because your account is protected by a password and safety questions. Being able to check your balance 24/7 also makes it easier to spot unauthorized transactions and unusual activity, so you can take the necessary steps faster to protect a compromised account.

Online bill pay

Another advantage of online banking is that you can log into your account and pay your bills. If you have a credit line, you can log into your account at any time to see when your next payment is due or schedule a payment making you less likely to miss a payment deadline.

Greener

Did you know that 69 million tons of paper products are used each year in the U.S.? Going paperless will help reduce your environmental footprint.

If you are still receiving paper statements in the mail, the paper those statements are printed on could be contributing to deforestation. Producing this paper and its delivery to your home are also contributing to harmful emissions.

Self-service options

Using online banking gives you access to several customer service features. Depending on the features offered by your bank, you might be able to apply for additional services such as increased credit lines or adding authorized users to your account.

You might also be able to submit an online report if you notice unusual activity on your account, report a card as lost or stolen, or chat with a representative if you have questions.

Most financial institutions also offer online resources designed to help you learn about their products or managing your finances.

Going paperless is easy. All you have to do is log into your online banking account and access your statement preferences.