Here at Systematic Savings Bank, we are proud to announce that we have new product offerings for our customers. The one I’m particularly excited about is our greener banking option. With our new online banking program you can view your account balance, history, statements or you can pay bills at your convenience with a click of the mouse. Systematic Savings Bank is a Member FDIC.
In this short blog I’d like to focus on the advantages and disadvantages to paper vs. online statements. It’s important to be aware of the pros and cons so that you can make more knowledgeable banking decisions and can choose what’s really best for you and your situation.
I found these pros and cons on ehow.com for your review!
Paper Bank Statements
Pros
· Easy to file in a filing cabinet
· You have a tangible copy
· Power outages have no effect on access to your files
Cons
· Environmental impact
· Vulnerable to tampering and identity theft through mail
· Some banks may charge a fee to have your statements mailed to you
· Potential for clutter
Online Bank Statements
Pros
· Convenient and easily accessible anywhere
· Extremely easy to save on your computer
· You can save multiple copies in multiple formats for extra safe-keeping
· Lessens your carbon footprint
Cons
· You may lose information to a computer glitch or power outage
· If you have inadequate security protection installed on your computer, information can be stolen through phishing or hacking
If you have any questions or comments about this week's blog, don't hesitate to reply below or contact Systematic Savings Bank! Also, don't forget to stop by the square tomorrow anytime from 7 p.m. - 9 p.m. for Sounds on the Square.
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