Q: Are e-statements and online banking really safe?

A: It’s understandable why some might still be hesitant to switch to e-statements and online banking. We hear reports about online fraud nearly every day. But according to local law enforcement, using online banking and e-statements, is actually statistically safer than conventional paper checks and statements.

When paying bills online, you are less vulnerable to check fraud, often brought about by bills being left in the mailbox for pick-up. A fraudster will look for mailboxes with red flags, to signify outgoing mail. Once your bills are stolen, the checks will be taken out and chemically altered to readdress the check to someone other than your original bill. Another option would be for the fraudster to steal your bank’s routing number and your account number from the check, then print additional checks right from their home printer, on check-paper sold at every office supply s tore. Online bill pay eliminates that exposure to your account.

E-statements work much the same way. Instead of your credit union statement sitting in your mailbox all afternoon, ready for a fraudster to steal, your e-statement is mailed to the email address you designate. Another bonus is most e-statements allow you the option to go in to print several previous months. With your paper statement, if you lose it, it’s gone, until you request a replacement.

Environmentally, e-statements and online banking are smart. Both save paper, by eliminating the paper statement, checks, envelopes and stamps. Looks like it’s win-win for e-statements and online banking all around!