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#126423 - 10/29/03 02:42 PM Statement cost?
Richard Insley Offline
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Richard Insley
Joined: Oct 2000
Posts: 9,999
Toano, VA
Does anyone have estimates of the cost of sending statements in the traditional paper form? How about the savings that are possible if you switch customers from paper to electrons--has anyone come up with an estimate of the monthly cost reduction?
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#126424 - 10/30/03 09:23 PM Re: Statement cost?
Tisa Offline
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Tisa
Joined: Jun 2003
Posts: 938
Do you know the way to ...
I believe we were told it saves us $1 per statement (printing & postage costs) when the customer signs up for electronic statements.

So that's $12 / year for a checking account, and another $12 / year for their credit card account.

Multiply that by the 20,000 people we've gotten to sign up, and we've saved quite a bit so far. But we're always looking to save more!
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#126425 - 10/30/03 09:58 PM Re: Statement cost?
Richard Insley Offline
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Richard Insley
Joined: Oct 2000
Posts: 9,999
Toano, VA
So you're looking at half a million per year in savings?
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#126426 - 10/31/03 01:06 PM Re: Statement cost?
waldensouth Offline
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waldensouth
Joined: Nov 2001
Posts: 7,973
FINALLY ABOVE the gnat line
We are in process of establishing electronic deposit statements. We estimate that it will save around $1.00 per statement.
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