eStatements According to Christy Baker, Chief Operations Officer

Many banks will encourage you go “Go Green” and “Save the Planet” by signing up for eStatements. These are valid benefits and worth noting but not the main focus of my blog today. In the spirit of full disclosure, I am willing to admit that eStatements benefit the bank in the form of reduced paper costs, fewer hours spent stuffing statements and fewer papercuts. Band-Aids are getting expensive!

One main benefit our clients can take advantage of is timely delivery of statements. EStatements are normally ready to download on the business day following the normal statement day while printed statements can take three to four days, depending on distance and mail service. Do you have days when you are so excited to balance your checkbook and you just can’t wait for it to come in the mail? Well, maybe not, but if you ever do, your statement will be available next day.

Another great benefit to eStatements is organization. Electronic filing is a big help at year end when I sit down to do my taxes. I am definitely in the right job because I love to organize my financial paperwork but I have limited room in our den to save several years’ worth of bank statements for tax purposes. Either I needed to build a new filing cabinet or I needed to start filing my eStatements electronically on my personal home computer. Since I shouldn’t use power tools, I decided on the electronic filing route.

Security is a big factor in receiving eStatements. Physical mail can be lost or stolen from your mailbox without your knowledge. The Bank of Tioga does not deliver or “push” eStatements to an email address. We post them in our secure online banking portal and ask clients to login to The Bank of Tioga Online to access and download the most current statement.

Depending on the account type you currently have, you may not be receiving check images back with your paper statements. These images are available within online banking, and in conjunction with my favorite subject of organization, it is always easier to have all of your documentation in one place when taxes roll around. Signing up for eStatements includes receiving a copy of all check images toward the end of your statement. Keep in mind when you initially sign up for eStatements that you will not be able to view prior eStatements. You will only be able to view statements that have been generated since you signed up for eStatements.

For assistance, please feel free to call at (701) 664.3388. The Bank of Tioga is more than happy to walk you through the process of signing up for eStatements so you too can enjoy the feeling of being organized and excited to file your taxes!