Are you curious to know what is an e statement? You have come to the right place as I am going to tell you everything about an e statement in a very simple explanation. Without further discussion let’s begin to know what is an e statement?
What Is An E-Statement?
An e-statement, also known as an electronic statement, is a digital version of a paper statement that is typically sent to a customer via email. E-statements are becoming increasingly popular as more and more individuals and businesses are turning to digital methods of communication.
E-statements are typically used for financial statements, such as bank account statements, credit card statements, and investment account statements. They contain the same information as a paper statement, including account balances, transactions, and fees.
One of the main benefits of e-statements is that they are more environmentally friendly than paper statements. They do not require the use of paper, ink, or energy to print and mail, which can help to reduce the carbon footprint of an individual or business.
Additionally, e-statements are more convenient and secure than paper statements. They can be accessed from anywhere, at any time, and can be easily saved and archived for future reference. E-statements are also less likely to be lost or stolen in the mail.
To receive e-statements, customers typically need to sign up for the service through their bank or financial institution’s website. Once signed up, the customer will receive an email notification when a new statement is available, and can access it by logging into their account.
In summary, e-statements are digital versions of paper statements that are sent via email. They are more environmentally friendly, convenient, and secure than paper statements. They contain the same information as a paper statement, including account balances, transactions, and fees. To receive e-statements, customers typically need to sign up for the service through their bank or financial institution’s website.
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FAQ
What Is E-Statement Used For?
An electronic version of a bank statement is known as an electronic statement or e-statement and allows account holders to access their statements online where they can download or print them.
What Is An Estatement?
eStatements, or ‘electronic statements’, are simply your monthly or quarterly statements in a format that is viewed online via Internet Banking, rather than on paper via the mail.
What Are E-Statements From The Bank?
eStatements are electronic versions of the monthly paper statements you currently receive. They include transactions from a set period of time (a statement cycle) and do not include any pending transactions.
How Do I Get My E-Statement?
How to Access Your Bank Statements Online
- Log in to your account through the bank’s website or app. …
- Find where your bank houses its electronic statements. …
- Select the statement period you want to view.
- Review the statement on your computer, tablet, or phone — or download your statement as a PDF.
Is An E-Statement Necessary?
These electronic documents replace and improve your paper statements with added convenience and security benefits—which means less worry for you. “E-Statements provide fast, safe, and secure delivery and storage,” says Lori Tiede, E-Services Specialist Lead at Plains Commerce Bank.
Can A Bank Require E Statements?
Under the federal Electronic Signatures in Global and National Commerce Act (E-Sign), if the law requires that a statement or other disclosure be made in writing, financial institutions can substitute electronic statements for paper ones only with the customer’s explicit consent (opt-in).
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