Should i get paperless statements

Another benefit of paperless billing is the fact that it can potentially protect users from becoming victims of identity theft. Some users believe that online billing makes it easier to miss payments since there is no physical bill to remind them that their payment is due. Putting your card issuer on your list of approved senders can prevent this problem from happening. Another possible issue could come from not reading your online statements as carefully as you would read a paper statement.

Measure content performance. Develop and improve products. List of Partners vendors. By LaToya Irby. LaToya Irby is a credit expert who has been covering credit and debt management for The Balance for more than a dozen years. Learn about our editorial policies.

Reviewed by Erika Rasure. Article Reviewed November 27, Erika Rasure, Ph. She has spent the past six years teaching and has included FinTech in personal finance courses and curriculum since , including cryptocurrencies and blockchain. Learn about our Financial Review Board. Article Fact Checked July 22, Article Sources. Your Privacy Rights. Aside from the paper itself, traditional statements require a constant supply of printing materials, postage, and manual labor. Paper statements also require business arrangements and regular correspondence with postal or shipping services.

In contrast, e-billing can help businesses cut back on recurring expenses and improve the bottom line. Accelerated Operations and Payments. Sending paper statements in the mail is a significant administrative function that requires many dedicated hours each month. Paper statements require printing, fulfillment, and postage for every recipient. On the other hand, paperless billing streamlines the process and gives employees more time to focus on strategic tasks.

Much is left up to the customer when paper statements are sent in the mail. Customers may also make payments sooner, especially if they are given a variety of payment options and empowered to submit payments online. So what is paperless billing, and when was this option first offered? Paperless billing definition: Also known as electronic billing or e-billing for short, in simple terms, paperless billing means receiving an electronic version of a bill instead of a paper bill.

The paperless option usually provides the opportunity to pay bills online or set up automatic payments. The availability of computers and digital information systems transformed the way businesses functioned. As a result, the earliest phases of e-billing in the ss involved replacing handwritten or typewriter-generated bills with invoices created on a computer.

In the true sense of the definition, fully digitized e-billing and e-payments started in the late 20th century.