Managing your bank accounts requires time and attention to detail. It involves monitoring transactions, reviewing balances, checking that all expenses are accounted for, and ensuring that you have sufficient funds. Additionally, it's essential to pay your bills on time to avoid late fees. One way to simplify these tasks and stay informed about your financial standing is by switching to electronic statements (E-statements). 

What are E-statements? 

E-statements are digital versions of bank statements that are delivered to you online rather than through traditional mail. Available within your secure online banking account or app, e-statements feature the same essential information as traditional paper statements. This includes a comprehensive account history, current balances, and detailed transaction records over a specified period. 

E-statements are available for checking, savings, and loans—including both personal and business accounts—offering a comprehensive view of all account activity. Electronic tax documents are also available, which can be helpful during the busy tax season. 

1. Reduces the risk of mail fraud and theft. 

The risk of falling victim to mail check fraud is a nationwide concern. The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) reported that check fraud related to mail theft totaled over $688 million in just six months in 2023.¹ By using e-statements, there is no physical delivery of sensitive personal and financial information to your mailbox. This reduces the chances of unauthorized access or interception, making e-statements a more secure alternative for managing personal finances. 

2. Offers convenience and accessibility. 

With e-statements, the days of waiting for your financial documents to arrive in your mailbox are over. Now, you can access your statements at your convenience, whether you're at home, on the go, or anywhere with a secure Internet connection. This means you can enjoy peace of mind knowing that your statements won't get lost, delayed, or stolen in the mail. They are conveniently available at your fingertips whenever you need them. 
 

3. Streamlines record-keeping. 

Keeping track of financial records with paper-based files and documents can be cumbersome, especially with multiple accounts and a large number of transactions and transfers. The clutter of physical papers makes it challenging to stay organized and increases the risk of misplacing important documents. This isn't the case with e-statements, which offer a streamlined solution. You can view your e-statements by date through your online banking account or app. Lastly, you can download and print your statements when needed. 

4. Improved budgeting 

When you don’t have real-time access to your current financial situation, budgeting effectively can be challenging, making it all too easy to fall into the trap of overspending. With e-statements, you can see a clear picture of your finances anytime, such as your bank balances, bills, and purchase history. This clarity helps you manage your budget more effectively. For example, knowing your available balance may prompt you to transfer funds between accounts before making a big purchase or paying a bill. Additionally, you can track where your money is going and pinpoint areas where you can reduce spending. 

5. Helps with Tax Preparation 

Preparing your tax return is an involved process requiring many different forms and documents. E-statements can accelerate and simplify the process of tax preparation. They are often available sooner than paper statements, which means you can begin gathering your tax documents earlier. Additionally, e-statements provide a clear and organized overview of your financial transactions, with neatly categorized entries that make it easier to locate and reference the information needed for your tax return. This digital format saves time and reduces the hassle of searching through piles of financial paperwork, providing a more efficient and stress-free tax preparation experience. 

6. Better for the Environment. 

By choosing e-statements, you will do your part to protect the environment. Digital documents reduce the demand for paper, thereby helping to preserve our forests and ecosystems. Additionally, they reduce the carbon footprint associated with the entire lifecycle of paper manufacturing—this includes everything from harvesting trees and the processes of production and printing to the emissions generated during mailing. In summary, switching to e-statements is a conscious choice that helps contribute to a more sustainable future today and for future generations. 

7. Enrolling is simple. 

Enrolling for e-statements with Ameris Bank is a straightforward process. With just a few clicks through your online bank account or app, you can transition from traditional paper statements to digital ones, allowing you to access your account information securely and conveniently online. Additionally, most banks provide e-statements to their customers at no cost, making it a cost-effective choice for managing your finances. 

Make the switch 

If you have a deposit account with Ameris Bank, you can get set up for e-statements in a matter of minutes for free. Once you are enrolled, you can access electronic statements anytime, 24/7, with a secure Internet connection. This eliminates the need to visit a physical bank location or wait for statements to arrive in the mail. 


Sources: 
¹ https://www.fincen.gov/news/news-releases/fincen-issues-depth-analysis-check-fraud-related-mail-theft 

 
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank is not affiliated with nor endorses the U.S. Financial Crimes Enforcement Network (FinCEN).