Almost everything in our lives has gone digital. Bank and financial documents are accessed online instead of by paper statements. If you get paper statements but pay online, the banks eventually remove the return payment envelope. I don’t mind this since I don’t need to keep my credit card statements like I used to. All of my information can be accessed online within seconds or maybe 1 day, depending on how far back I want to look.
Less paper means fewer trees cut down and less energy used to print my statement and fuel to deliver that envelope to my home.
While banks will say that it’s a “green” move for you to sign up for electronic statements, it’s also cheaper for them to email you than to mail you a statement.
There’s no time better than Earth Day for banks to shame you into getting e-statements. They’ll even throw in a small bonus if you give up on paper. Barclays is offering me 500 points to go paperless. 
You better believe I took them up on the offer. Sure, it’s only $5-$7 in points, but that’s more than I would get if I signed up when applying for the card. Which makes you think, why shouldn’t banks offer the points when you sign up if they care about the environment that much? It’s because many people will sign up for paperless statements for free, saving the banks money and points.
I’m not heartless towards the environment. I bring my refillable water bottle when we travel instead of buying plastic bottles. I recycle when I can and love when there’s a selection of where to dispose of my items (although too many choices can become confusing.)
I select paper statements for new accounts for several reasons.
- Getting a paper statement helps me keep track of meeting spending requirements
- I have a physical reminder to pay my bill on time until I learn the due date
- Banks will offer points to switch to paperless
Sure, I’m selfish and will sacrifice the environment for 500 points. Fine. I also sent multiple postcards to IHG for a contest for extra points. Others drive around buying gift cards at malls and office supply stores, then go to Walmart to cash them out for money orders. Even more, people buy things on sale only to resell them, resulting in the items being shipped twice. Every action has a cost and I can live with the harm to the environment of receiving a paper statement for 6 months.
At least I recycle the paper from the statement after blacking out all my personal information. 🙂
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1 comment
I just switched to paperless. Sure, it’s better for the environment, but now I also have less mail to sort through and less mail waiting for me when I come home from traveling. I do save pdf’s of statements on a “Financial Documents” folder on my laptop, for easy reference. I put a reminder on my calendar so that I remember to pay a card card bill. The transition to paperless is easier than I imagined, and I’m happy I made the switch.