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Money Matters Blog

Tuesday, August 31, 2021

Six Reasons to Switch to eStatements

Are you constantly dealing with a barrage of junk mail that clogs up your mailbox? Drowning in papers needing sifted through? Are you always afraid to throw out any paper from your financial institution, fearful that you’ll be throwing sensitive material into the trash and making it an easy steal for would-be scammers?

If this sounds familiar, you may benefit from switching to electronic account statements.

Electronic statements (eStatements) are similar to paper statements, except for the fact that they’re delivered electronically. At the end of each statement period, which is generally monthly for checking accounts and quarterly for basic savings accounts, you’ll receive a notification informing you that your statement is ready to view through the online banking portal or app. Once you access the eStatement, you’ll find it has all the information you’re used to receiving in your paper statements. You can also access your eStatement by logging into the Community Financial eBanking or app at anytime, anywhere.

Quick, convenient and clutter-free, eStatements are the way of the future. Here are six reasons to consider switching to eStatements today!

1.      Check your accounts at a glance

With eStatements, there’s no need to wait for your monthly statement to arrive in the mail. Just a few clicks and you get your account statement using the mobile device of your choice. Community Financial even offers members the option of signing up for financial alerts through eBanking and Mobile Banking. These can warn you when your account is running low, when a new transfer is coming in or out, when your account is in danger of being overdrawn, and more. With eStatements and other eServices, managing your accounts is easy.

2.      Clear out the clutter

Why bother with piles of paperwork when you can access your accounts online? It’s neater, cleaner, and helps cut down on the correspondence you have flooding your mailbox. You’ll also save time sorting through papers when you can find your last account cycle balance with just a few quick swipes.

3.      Keep your information safer

No matter how careful you are with papers containing sensitive data, there’s always a chance you can miss something and it’ll end up in the wrong hands. It can also be a pain to keep track of every incoming piece of snail mail and to dispose of it properly. With eStatements, you’ll never have to worry about losing a paper that contains confidential banking information, or mistakenly tossing it into the trash where it can be easily accessed by identity thieves.

Some people are wary about sending sensitive information online and are fearful that an eStatement can easily be hacked. However, you can access your account online with confidence, knowing that Community Financial uses several layers of protection to keep your information safe, including multi-factor authentication, encryption, and more.

4.      Monitor your accounts for fraud or overdrafts

When you have instant access to your eStatements, it’s easier to monitor your account for signs of fraud or overdrafts. Also, when you access your account through eBanking or the mobile app, you have the ability to set alerts on your account, allowing you to monitor your finances closer than ever before. Transfer money instantly from your savings and checking accounts on the Community Financial app or through eBanking, covering any unexpected expenses as they occur.

5.      Eco-friendly

When you choose to receive your monthly account statements electronically, you’ll be doing the environment a favor. Not only will you not have to worry about shredding your confidential documents, less paper statements means less paper waste and fewer trees getting felled for something that will ultimately be tossed. Research even shows that approximately 1 billion trees worth of paper are thrown away every year in just the U.S. alone. Go green for the environment with eStatements!

6.      Safe and secure storage

With eStatements, you’ll never stress about misplacing your account statements again. Your online banking portal or app acts as a convenient and secure filing cabinet, storing your account statements for you to access as needed.

Ready to make the switch to eStatements? Signing up is easy! Just follow the instructions on our mobile app, or click on this link to get started. Hello, convenience!

 

Your Turn: What do you like best about eStatements? Tell us about it in the comments.

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