CBA aims for paper cuts
(14 March 2008 – Australia) CBA will offer electronic statements in replacement of paper statements to reduce paper usage by 20 percent.
The current usage of paper statements is 175 million sheets of paper per year, which would stretch around the world 1.3 times, according to the CBA statement.
Ross McEwan, group executive, Retail Banking Services emphasised the importance of reducing CBA’s impact on the environment.
McEwan said that their research has shown that customers will find electronic statements popular; however CBA will not force all customers to move to electronic banking, considering the varying needs of customers.
He also said customers will be able to view up to seven years of past statements electronically.
CBA will initially offer the option of stopping paper statements on more than 25 products across retail and business banking, including transaction and savings accounts.
Ross McEwan, group executive, Retail Banking Services emphasised the importance of reducing CBA’s impact on the environment.
McEwan said that their research has shown that customers will find electronic statements popular; however CBA will not force all customers to move to electronic banking, considering the varying needs of customers.
He also said customers will be able to view up to seven years of past statements electronically.
CBA will initially offer the option of stopping paper statements on more than 25 products across retail and business banking, including transaction and savings accounts.
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