Paperless and Powerful: Why eStatements Are the Smart Choice

Paperless banking is increasingly popular, with more people turning to eStatements for the convenience and security they offer. They can also reduce your risk of fraud and your cost of banking. Mail theft is a common way for scammers to gain access to financial information. They use that information to attempt to steal identities and funds. 

The use of paper itself is on the decline in an increasingly digital world. A report by the Federal Reserve Bank of Atlanta last year revealed that more than 90% of consumers preferred paying their bills using something other than a paper check in 2024. Consumers also rated checks poorly for security, with only cash rated as a riskier form of payment.

A survey by the American Bankers Association last year reported that American consumers are increasingly using secure digital banking tools to manage their accounts, with 54% of bank customers using an app on their phone or some other mobile device as their top banking option, with 22% banking online using a computer.

What Are eStatements?

Paperless bank statements, also known as eStatements, are bank statements that are sent electronically to your email address, usually in the form of a PDF.

Why Paperless Statements Make Banking Easier

One of the key benefits of online banking statements is you can download them to a computer, leave them stored in your email account, or view them online whenever you need to review your accounts.

Faster Access to Account Information

Another advantage to eStatements is you can log in to your Flanagan State Bank account and pull them as soon as they’re available, rather than waiting for them to arrive via snail mail.

Less Paper Clutter

In the old days, people would keep their bank statements and other financial documents for three to seven years as recommended by the IRS. That creates a significant amount of clutter and inconvenience as you’ll have to find a secure place to keep them. eStatements take up just a small amount of space on your computer and you can access them online whenever you need. It also means you won’t have any paper bank statements you have to shred before throwing them away.

Added Security and Convenience

Mail theft is a top way for scammers to gain access to your financial information that they can use to try and steal your funds and your identity. Electronic bank statements are sent securely to your email address. Of course, you’ll need to take proactive measures for digital security to protect your online and email accounts but they can be much more secure than a statement sent by snail mail or sitting in your mailbox.

How to Enroll in eStatements

It’s easy to enroll in eStatements through our secure digital banking portal. Simply log in to your online banking account, click “Documents” on the left-hand menu, select your account, click “Apply” and review and accept the terms and conditions.

Enroll in eStatements through Online Banking

Sign up for eStatements through our online banking portal and discover the convenience and security that online banking statements provide. You can also contact us, or stop by one of our convenient branch locations to learn more.