EStatements

eStatements are electronic statements that are delivered to customers through their online banking accounts instead of receiving paper statements via mail.

Example #1

An eStatement provides a summary of your account activity, including transactions, balances, and any fees incurred.

Example #2

Instead of waiting for a physical paper statement in the mail, you can access your eStatement securely at any time through your online banking portal.

Misuse

Misuse of eStatements could involve unauthorized access to your online banking account by hackers or other malicious actors. This could lead to identity theft, fraudulent transactions, and unauthorized access to sensitive financial information. It's crucial to protect your online banking credentials, use secure networks, and enable additional security measures like two-factor authentication to prevent misuse of eStatements.

Benefits

One of the key benefits of eStatements is reducing paper waste and helping the environment by lessening the need for physical mailings. Additionally, eStatements are often more convenient as they are accessible anywhere with an internet connection, promoting better organization and timely monitoring of your financial transactions.

Conclusion

eStatements provide a digital alternative to traditional paper statements, offering convenience, accessibility, and environmental friendliness. Consumers can benefit from the ease of access and reduced clutter while also contributing to sustainability efforts by opting for electronic delivery of their financial statements.

Related Terms

Online BankingTwo-Factor Authentication