Since the late 1990s, banks have encouraged customers to receive statements electronically. The switch normally requires express customer consent, which is typically obtained through an online banking system. Producing electronic statements saves financial institutions the significant cost of printing statements, folding them into envelopes and postage. In addition, customers could receive statements more promptly, and not be dependent on the postal delivery service. The customer could print the statement at their premisesHow do I print my statement in Online Banking? if they needed one, or have access to historic statements on the institution's website as needed. Other parties may be authorized to have access to the customer's financial information on the institution's website.
