Banks even have different policies depending on the type of account in question.Īt Citibank, for example, customers have access to three months of statements for checking accounts and 12 months of statements for credit cards. The answer varies depending on the company. If you keep detailed financial records, one concern with going paperless is how long electronic statements will be accessible online. LastPass is free and RoboForm costs about $30.
These programs store user names and passwords on your computer and automatically fill out login pages.
Bank paperless statements download#
One way to avoid this is to download a program such as Last Pass or RoboForm. So if you feel that a paper statement on the kitchen counter helps you remember to pay a bill, consider sticking with the strategy for those accounts until you're more comfortable managing finances online. With important bills such as mortgages, on the other hand, there are steep late fees for missed payments.
So before agreeing to go paperless, consider the account in question and what type of action it requires from you.įor example, there likely won't be any repercussions if you fail to check an online statement for a savings account. One reason for the slackened oversight is that routine notifications that a statement is ready can be easy to ignore, particularly if you get a high volume of emails. When considering a switch to e-statements, the primary concern is how it will affect your vigilance about paying and reviewing bills. If you're thinking of going paperless, here are three tips to consider: Bank of America says about a third of checking and savings account customers are signed up for e-statements, but other companies cite far lower numbers. It's not clear how widespread paperless statements are because many companies don't disclose their figures.
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